StanChart modernises, harmonises tech architecture

Key members of group implementation team including Country Technology Manager Ajanthan Sivathas, ATLAS Country Project Lead Hareendra Jayasundara and Sri Lanka CEO Bingumal Thewarathanthri

Standard Chartered Sri Lanka recently announced a key milestone achievement in its technological transformation journey, with the implementation of ‘Project ATLAS’, a modernised core banking application in cloud. 
The ATLAS Project harmonises various versions of core banking across markets into one single version, which standardises interfaces to reduce the overall application development, support and maintenance cost for the bank. 

Over the past 20 years, Standard Chartered Sri Lanka was served by its own homegrown core banking application known as eBBS. Hosted in the global data centre owned by Standard Chartered, eBBS was incrementally built across many markets and had evolved in terms of functionality. This resulted in multiple versions of the core banking application being present across regions, based on various local business and regulatory demands.
With the participation of over 100+ users across all departments, along with project leads across functions and geographies, Standard Chartered Sri Lanka came together as one team to ensure the successful launch of project ATLAS. The project was executed with absolute precision to ensure a smooth go-live with minimal to no impact to clients.

One of the key outcomes of project ATLAS is to have standardised processes across all Standard Chartered markets with one harmonised version of its core banking application that will enable better speed to market, where functionalities developed can be rolled out to all countries at once. The new version will also unlock value, where products developed for one market can be enabled for others to have a competitive advantage and promote linear scalability and elasticity to meet business volume spikes using cloud computing. The project also aims to have a robust technology platform and at the same time embraces the latest technology trends to reduce costs leveraging on the cloud computing benefits of pay for what is used and to have much higher efficiency in output to clients.