LOLC Technologies Ltd, the information technology services arm of the LOLC group, in strategic partnership with Oracle Corporation Singapore PTE Ltd held an awareness session under the theme ‘Information Security, Threats and Opportunities’ among C-level corporate officers from banks and licenced finance companies in Sri Lanka, at Cinnamon Grand, recently.

This highlevel gathering included Central Bank Governor Ajith Nivard Cabraal as the honoured chief guest. The participants included the highest echelon of distinguished banking executives – chairpersons and chief executive officers - from renowned banks and financial establishments such as Hatton National Bank, Commercial Bank, People’s Bank, Bank of Ceylon and Union Bank among others.

LOLC Group Chairperson Rohini Nanayakkara, LOLC Group Group Managing Director Kapila Jayawardena and LOLC Technologies Ltd Managing Director/Chief Executive Officer Conrad Dias together with officials from the LOLC group and Oracle Corporation Singapore PTE Ltd were also present.

The aim of the programme was to create a broader discourse and an understanding in the financial services community about securing the integrity of information services within their organisations and the financial services sector, whilst taking measured responses against cyber threats and exploring opportunities.

Governor Cabraal shared his views in this regard, “As we prepare to reach US $ 4,000 per capita income and to fulfill the next phase of our country’s development, we have taken the necessary steps in all sectors of our economy to progress ahead seamlessly. In this endeavor, to sustain a resilient banking and financial services sector in Sri Lanka, we have taken timely measures to be ‘IT Ready’. All efforts in this regard are made to prepare and strengthen ourselves for the future and to progress forward.”

Providing an insight into the programme, Oracle Asia-Pacific Director Identity Management and Security Kenneth Hee explained as follows: “We see more targeted cyber-attacks on systems now where attackers have an understanding about their targets and their vulnerabilities. The key is not to view cyber-attacks in fear; as problems which require immediate technical solutions, but to approach them as opportunities to take measured steps to strengthen the existing systems and strategically prepare them well in advance.”

“The key is to identify vulnerabilities in your systems and strategically prepare them to mitigate threats from within. By adopting a Security Inside Out approach, you can understand how resilient your security structures are and thereby transform these threats into opportunities that create long term value for your business,” he concluded.