MI partners with SITS to transform digital journey

From left seated: SITS CEO Mangala Rodrigo, MI Director/COO Dhanushka Fonseka and MI CFO Deva Anthony
From left standing: SITS Manager QA Miranga Senaratne, SITS Manager Implementation and Client Support Dixor Danial, SITS Practice Head Software Pali Jayasekara, SITS Chief Sales and Marketing Officer Varnika Soysa and MI Senior Manager Gold Loans Ranjan Asiriwardan

Sampath IT Solutions (SITS), a fully-owned subsidiary of Sampath Bank Group of Companies announced the strategic partnership with Mercantile Investments & Finance PLC (MI) for the implementation of the ‘PRIME’ platform. 

The software solution is expected to further enhance the user experience and financial asset management for pawning and gold
loan business.

The users of the PRIME platform will be able to work autonomously and remotely, with complete control over their assets. The solution provides parameterised configuration, dual authorised master data management, auction processes and user-friendly design thinking
incorporated interfaces. 

In addition, PRIME provides easier customer on-boarding and payments, payment reversals, ticket reversals and backdated payment management and will be one of the first platforms in the industry to offer ‘non- performing asset maintenance’ as well as many other unique
business benefits.  

Sampath Information Technology Solutions CEO Managala Rodrigo stated, “Convenience is a critical factor for success in today’s business and industry climate, with the ongoing digital disruption. To retain valuable customers, organisations in the service industry find it imperative to exceed customer expectations. SITS being one of the top systems integrator in the industry, having diverse expertise and proven track record in the fintec domain, we always priorities customer convenience, quality, integrity and effectiveness. Our business development is elevated by the high-quality of delivery, coupled with customer feedback, to maintain our leadership status in a highly competitive market. As such, SITS is committed to deliver effective and innovative solutions by simplifying digital disruption, which in a nutshell is what users at MI may expect of the
end-product.”

Commenting on the new partnership, MI COO/Director Dhanushka Fonseka noted, “Identifying the potential gaps and implementing solutions to make the user experience better is key to any business. We are pleased to partner with SITS at this juncture and look forward to a fruitful journey with SITS, with the unveiling of the
PRIME platform.”

Operating for over 14 years, SITS is a fully-owned subsidiary of Sampath Bank PLC, specialising in providing end-to-end integration and consultancy services to transform businesses. MI (in operation for over 57 years) continues to be at the forefront of Sri Lanka’s financial services industry, specialising in a wide range of innovative financial solutions. The company’s total equity exceeded Rs.10 billion and the asset base exceeded over Rs.41 billion.