MillenniumIT ESP launches BankVision – an Integrated Approach to Digital Banking

MillenniumIT ESP – Sri Lanka’s leading IT Solutions provider – recently launched
BankVision, a web and mobile enabled digital platform designed to connect Banks
with new customers for remote identity verification, digital onboarding and
Electronic Know Your Customer (e-KYC) processes. Its built-in digital
technologies, including Artificial Intelligence (AI) based video analysis, image
recognition and automation technologies, improve the efficiency of the processes
with the added flexibility of facilitating manual overrides when required.
BankVision also provides functionalities to maintain a continuous engagement
with bank customers and facilitate the otherwise tedious processes and
regulatory demands of Customer Due Diligence (CDD). As an enhanced feature,
the e-KYC process is optimized with an AI based OCR supported by a rating engine
to ascertain risks, while CDD is augmented with a rules engine to notify
customers and maintain up-to-date data.
“BankVision is designed as a real-time platform to solve the challenge of meeting
new customers amidst the limitations and restrictions brought about by the
COVID-19 pandemic. At times such as these, it is critical that financial
organizations are able to establish and retain contact with their customers, in
order to enable business growth while managing associated risks and boosting
customer confidence. The use of digital technologies, such as AI and Analytics,
coupled with Automation will also vastly help to reduce the overall costs both to
Banks and their customers,” stated Shevan Goonetilleke, Director/Chief Executive
Officer, MillenniumIT ESP.
AI optimized image and video-based verification service can authenticate the
identity of new customers against their digital identity. Moreover, the platform
permits for seamless digital on-boarding and CDD, automating the customer
screening process without human intervention.
“The COVID-19 pandemic has transformed the entire world, creating a paradigm
shift into the way we think, act and respond. The new normal has paved way for
many opportunities for smart and flexible systems allowing for remote e-
Solutions,” added Rahal Jayawardene, Head of Technology Alliances & Innovation,
MillenniumIT ESP.
The launch of BankVision, will enable communities and businesses across the
country to access their banking needs from the safe confines of their homes and
workplaces, eliminating the unnecessary risk of travel. The all new BankVision

app facilitates remote screening and includes a customizable self-service
workflow engine. This enables organizations to be agile and meet the ever-
changing customer and regulatory demands, whilst easily integrating the solution
to their existing digital channels. Other solution features include video
conferencing and customer profile rating.
MillenniumIT ESP is a subsidiary of Ambeon Holdings PLC, a conglomerate
reputed for its market dominance in the areas of financial services,
manufacturing, real estate, technology and strategic investments. The company is
one of Sri Lanka’s leading Information Systems solution providers delivering IT
solutions to several industries; including Banks and Finance Companies,
Telecommunications, Apparel and Manufacturing, Healthcare, Leisure,
Construction, Transport, Agriculture, Government, Public Sector and other
leading conglomerates. Solutions provided by MillenniumIT ESP include Core
Infrastructure, Enterprise Applications, Cyber Security, Smart Buildings and
Operations, Managed Services, Intelligent Automation and Data, and Cloud. The
company has built several global partnerships with leading firms including Oracle,
Microsoft, IBM, Dell, Hitachi, Cisco and Infosys. It has also received numerous
excellences, innovation and performance-based awards across various markets
for its services around the globe. For more information, visit

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