Sri Lanka’s National Savings Bank goes into system selection mode
The National Savings Bank (NSB) in Sri Lanka is calling for expressions of interest (EOI) as it looks to upgrade its core banking system.
It is now inviting bidders to supply, implement, rollout and maintain the new core banking system.
EOIs should be submitted on or before 19 September 2016. Once the EOIs have been evaluated, the process will move to a shortlist and the parties will be issued request for proposals (RFPs).
In terms of its present system, Banking Technology understands that NSB has been using a locally developed legacy core system. For its other systems, it has been using 3i Infotech’s Kastle Treasury for treasury and capital markets since 2004. For payments, the bank implemented ACI Worldwide’s Base24 in 2006 to provide ATM services for its 14 million customers across the country.
Last year, Aswin De Silva, chairman of the National Savings Bank, said it was investing and looking to revamp its infrastructure. He also said NSB was looking at external growth – namely the Maldives and Bangladesh – and wants to get into the trade finance business.
State-owned NSB is headquartered in the capital Colombo and was founded in 1971. It has 227 branches and also carries out postal banking with the co-operation of 643 post offices and 34,012 sub-post offices of the Sri Lanka Post. It is the country’s third largest bank in terms of deposits.
