Crowned as the National Winner for the Most Innovative Global Business
Service/BPM
Pioneering lending process automation project secures win for Financial Services
giant
In line with its constant strive to innovate and stay relevant to its valuable customers,
Citizens Development Business Finance PLC (CDB) was recently crowned as the
National Winner for the ‘Most Innovative Global Business Service/BPM’ at the National
Ingenuity Awards 2022, hosted by Sri Lanka Association for Software and Services
Companies (SLASSCOM).
CDB’s pioneering lending process automation project was the initiative that won at the
awards ceremony, which was held on the 1st of July 2022. The launch of this
revolutionary initiative made headway in the financial services industry in Sri Lanka as
an end-to-end credit facility granting process became automated with limited human
intervention.
Speaking on this achievement, Mr. Dave De Silva, Executive Director of CDB’s
Business Operations said, “We at CDB highly value and encourage thinking beyond
traditional boundaries and embracing change. The fact that we secured this title stands
as a testament to the success of our efforts. Due to this process automation, we have
bypassed the entire branch network and given our team to work from anywhere and any
day of the year, thereby, giving our valued customers a superior service while adhering
to all compliance guidelines. Granting a quick and accurate credit decision is our goal
and with the lending process automation project, over 70% of our credit decisions are
granted at machine speed. This has enabled us to redeploy resources including excess
staff for process within the organisation, created a paperless working environment to a
great extent and limit the movement of our sales team to the branches which
contributes towards our tech disruption and sustainability strategy”.
