The technology firm recently entered into a Memorandum of Understanding with Mercantile Investments in implementing the full suite of its dynamic, core financial platform – eFinancials.
Implemented by over 25 financial service providers, including non-banking financial institutions and banks, the solution has gathered an unmatched reputation both here and overseas, making it one of the most successful, integrated financial platforms in the market.
Designed as a comprehensive software solution, eFinancials is the ideal core technology platform that integrates all main functions and processes related to financial services and transactions.
The eFinancials suite of modules and solutions offers the latest features and functionalities for the origination and management of varying loan schemes, savings and fixed deposits, leasing and mobile banking (eWallet), along with the ability to integrate modules for back-end operations such as collections and recoveries, general ledger, treasury and financial management.
The possibilities of the solution are wide-ranging, as it incorporates a flexible and configurable back-end architecture, which gives SCIENTER the versatility to adapt the platform to the requirements of the financial service provider.
Moreover, it can be configured to suit the service levels of various departments and personnel.
Commenting on the new partnership, Managing Director of SCIENTER Technologies, Mr. Rajiva Witharana notes that ‘It is an absolute pleasure to tie up with Mercantile Investments due to its leading position within the financial services sector.
Now, in the implementation process, we have adapted the e-Financials platform to seamlessly integrate MI’s core functions into a single operational platform; this was done while keeping in mind their operational and process requirements.
eFinancials provides an extensive range of modules, catering to numerous needs, apart from the most basic functions.
Our team is constantly finding new avenues in expanding the suite of capabilities and has succeeded in creating separate modules to manage mobile banking functionalities and exposures to money laundering activities.
These are just a few examples of its full capacity, which are absolute requirements to accountable and growth-oriented financial service providers.”
Commenting on the partnership, the COO/Director Non-Board of Mercantile Investments, Mr. Dhanushka Fonseka, stated that the level of service delivered to a client is a critical factor for any organisation to succeed; and that the partnership with SCIENTER and the eFinancials platform will unquestionably enable MI to fill potential gaps and deliver a unique experience to all stakeholders.
Remarking on the industry position of SCIENTER, Mr. Deva Anthony – CFO/Director Non-Board of Mercantile Investments added,
“We have seen SCIENTER Technologies evolving and making a mark in technology solutions, especially for the Finance Industry.
Mercantile Investments is happy to tie up with SCIENTER to acquire their tailored IT system solutions to enhance the company’s long-term IT strategy towards future business competitive advantage.”
Moreover, according to Mr. Prasad Indika, AGM Information Technology at MI, the company is confident in the system’s advanced features and therein its ability to accommodate user needs while trusting that SCIENTER’s experienced and capable staff will enable Mercantile Investment to fulfil their technology needs, to a large extent.
MillenniumIT ESP is overseeing the project management aspect of the implementation, with their team providing an end-to-end management approach.
The teams of all three parties will work cohesively to make the turnaround time for implementation as effective and efficient as possible.
SCIENTER Technologies (Private) Ltd. is one of Sri Lanka’s prominent tech solutions providers in enterprise applications and business software solutions - with a journey of over 26 years in the industry.
SCIENTER’s portfolio complements the operational requisites of diverse business segments including the financial sector and the hospitality industry (hotels and restaurants), in addition to membership clubs and other commercial segments.
Its flagship solution, eFinancials, offers an extensive range of key modules that complement multiple areas such as leasing, loans, recovery, fixed deposits, savings, treasury and internet banking alongside novel and advanced functions such as CRIB management, mobile banking (eWallet), anti-money laundering, audit application, recovery app, recovery call centre, and lead management.