Pan Asia Bank, the nation’s Truly Sri Lankan Bank, has announced a strategic partnership with global fintech platform Pine Labs to enhance its card issuing and processing capabilities through the deployment of a state-of-the-art, end-to-end card management platform. Under this partnership, Pan Asia Bank will implement Pine Labs’ full-stack Credit Card Management System, enabling the Bank to manage the complete life-cycle of its credit card portfolio through a modern, cloud-native and API-first platform called Credit+. The solution will support high transaction volumes and up-time, while offering greater flexibility and scalability in product configurations to meet evolving customer needs.
Moreover, the platform will be utilized for end-to-end credit card issuance, covering key functions including activation, billing, payment processing, reconciliation and settlement. This transformation is expected to significantly enhance the Bank’s operational efficiency and overall customer experience.
Commenting on the partnership, Naleen Edirisinghe, Director/Chief Executive Officer of Pan Asia Bank said: “This collaboration with Pine Labs represents a significant step forward in Pan Asia Bank’s journey. By adopting a next-generation card issuing and processing platform, we are strengthening our ability to deliver seamless, secure and responsive card services, while building a robust and scalable technology foundation to support innovation and long-term growth.”
B Amrish Rau, CEO, Pine Labs, added: “Our engagement with Pan Asia Bank is around implementation of a modern credit card management platform using our cloud-native and API-first card management technology. Our platform will help the bank handle the entire card life-cycle giving them complete control over configurations, limits, and program logic as volumes scale.”
The Credit+ platform of Pine Labs will integrate seamlessly with Pan Asia Bank’s core banking system and payment networks, enabling real-time authorization, rule-based controls and configurable limits via APIs. The platform’s modular and customized architecture will allow the Bank to introduce new card products swiftly, modify controls in real time and respond efficiently to regulatory or market-driven changes, without the need for major alterations to its existing core infrastructure.
About Pan Asia Bank
Pan Asia Bank, the Truly Sri Lankan Bank, is one of the leading financial institutions in Sri Lanka, known for delivering world-class products and services. As a pioneer in Sri Lanka’s banking industry, Pan Asia Bank has many firsts to its credit across technology platforms, unique products and superlative service. The Bank has developed a unique reputation and culture of being ambitious, results-oriented, respectful and caring, and supportive of traditional values – a true testament to the brand’s positioning as a Truly Sri Lankan Bank. Pan Asia Bank’s spirit of innovation and growth, coupled with a prudent approach to risk management, has enabled it to perform strongly even during the most challenging periods in the banking industry.
Pan Asia Bank’s prosperity is inextricably linked to the communities it serves, helping them face challenges with confidence through financing sustainable projects and conducting meaningful Corporate Social Responsibility initiatives to uplift communities.