The panel discussion held by NDB senior executives on Digital Banking for SMEs

In its sustained efforts to support the digital transformation of small and medium-sized enterprises (SMEs), NDB Bank recently hosted a transformative event at the Solis Hotel, Ethul Kotte, on July 24th, 2024. Over 100 SME Business Banking customers from Colombo and the Greater Colombo regions were invited to explore the potential of NDB’s pioneering offering, the NEOSBIZ app, a digital banking solution tailored specifically for SMEs, and how digital banking applications such as these support SMEs to enable competitive advantage.

The event featured insightful sessions led by NDB's senior executives, including Deepa Edirisooriva, Chief Manager of Product Lifecycle Management, and Nilendra Vithanage, Chief Manager and Zonal Head of Business Banking. They introduced the NEOSBIZ app, highlighting its innovative features designed to streamline financial management, enhance security in digital transactions, and provide real-time business insights. This app, which is designed to revolutionise how SMEs manage their operations, offers a comprehensive tool for efficient and effective business management.

Following the introduction, a panel discussion provided deeper insights into the significance of digital banking for SMEs. Moderated by Nilendra Vithanage, the panel included prominent figures from the Bank, such as Indika Ranaweera, VP, SME, Middle Markets and Business Banking; Ashan Wikramanayake, Head of Card Centre/AVP; and Damitha Silva, AVP, Product Life Cycle Management. The panellists discussed how digital banking products like NEOSBIZ align with NDB’s strategic goals and the broader vision for supporting SME growth in Sri Lanka.

The discussion also covered the substantial investments NDB is making in digital banking, underscoring the bank's commitment to staying at the forefront of technological innovation despite the challenges. The panellists explored how digital solutions like NEOSBIZ can provide better value to customers, from facilitating seamless transactions to offering advanced tools for financial management.

A key topic was the future impact of AI and robotics on SME sectors, highlighting how these technologies could reshape business operations and create new opportunities. The panellists also shared insights on how to strategically leverage digital banking products to gain a competitive edge in a rapidly evolving market.

Furthermore, the panel addressed practical concerns of SMEs, such as controlling operational expenses like fuel and utility costs, which are often prone to theft and misuse. NDB's digital banking solutions, including NEOSBIZ and the Bank’s latest Corporate Credit/prepaid card, were presented as tools for monitoring and managing these expenses, ensuring transparency and financial control.

The event concluded with a lively Q&A session, where attendees had the opportunity to ask specific questions about NEOSBIZ and its applications. This interactive segment allowed for a deeper understanding of how the app can be tailored to meet the unique needs of each business, reinforcing NDB's commitment to personalised banking solutions.

NDB Bank continues to lead the way in supporting the SME sector, providing innovative digital tools and comprehensive support. The launch of NEOSBIZ is a testament to NDB’s dedication to empowering local businesses, helping them navigate the digital landscape and thrive in a competitive market. As SMEs play a crucial role in the economic landscape of Sri Lanka, NDB remains a steadfast partner in their journey towards growth and success.

NDB Bank is the fourth-largest listed commercial bank in Sri Lanka. The Bank was named the Retail Bank of the Year (Sri Lanka) at Asian Banking & Finance Retail Banking Awards 2023 and the Best Corporate Bank 2023 by Asiamoney and also emerged as the Most Awarded Corporate in Sri Lanka in 2022 for the second consecutive year, as per the annual rankings of Sri Lankan publication LMD. The Bank was adjudged the Best Bank in Sri Lanka 2022 by Global Finance USA and Euromoney in their annual best bank awards programmes. Additionally, The Bank was named one of the "Top 50 Best Workplaces in Sri Lanka 2022" by Great Place To Work, USA. NDB is the parent company of the NDB Group, comprising capital market subsidiary companies, together forming a unique banking and capital market services group. The Bank is committed to empowering the nation and its people through meaningful financial and advisory services powered by digital banking solutions.