LOLC Technologies Limited, a subsidiary of the LOLC Group, has entered into a collaborative agreement with Microsoft to integrate Azure cloud services into ‘FusionX’, its core banking platform designed to meet evolving customer needs.
This strategic move aims to upscale their operational architecture, enabling LOLC Technologies to harness the power of data and AI to expedite growth and success.
Through Azure, LOLC Technologies can harness cloud-native services to enhance FusionX by enabling scalability, agility and AI-driven efficiency. Azure serves as the foundation, empowering LOLC Technologies to achieve its evolving digital goalsby delivering tailored experiences that meet today’s unique banking demands.
Azure’s secure and easily deployable nature, along with its AI capabilities, enables existing functions to be updated without needing a complete rebuild, simplifying the process of rolling back updates. Azure provides FusionX with an additional layer of cybersecurity to counter potential threats and implement best security practices. Consequently, as the organization designs new banking solutions, they do so with a proactive stance against threats.
LOLC Technologies Ltd CIO, LOLC Holdings PLC, Deputy CEO Prasanna Siriwardena said; “This is not just a technological advancement, but a strategic transformation aimed at positioning LOLC Technologies at the forefront of digital banking solutions. By leveraging the unparallelled agility and resilience of Microsoft Azure, we are focused on redefining financial services. With this shift, we have empowered BFSIs to evolve rapidly while unlocking AI’s full potentialthrough a real-time analytics platform.”
Strategizing for international growth, the company aims to enhance its products’ capabilities by leveraging the cloud service architecture of Microsoft Azure to boost value addition. The Cloud Adoption Framework within Azure will assist LOLC Technologies and their teams in improving operational efficiencies and promptly closing feedback loops, allowing them to cleverly align their business goals, operations, and vision.
Microsoft Sri Lanka and the Maldives stated; “We are enthusiastic about supporting LOLC Technologies Country Manager Harsha Randeny break ground on their undertaking to elevate operations through AI automation. Not only are we looking forward to guiding LOLC Technologies through this transition, but we’re also keen on optimizing the organization’sleveraging of Microsoft AI Solutions at every level.”
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