Business Partner Capital

The strong and long standing partnerships DFCC Bank has created and continues to maintain with its many international and local business partners are a key factor for the Bank to be identified as a credible financial institution, with an impeccable track record.


Multilateral and Bilateral Institutions

The Bank’s credible financial stewardship and ingrained ethics in conducting its core business has paved the way for DFCC to be among the top ten banks in Sri Lanka, through which the Government of Sri Lanka and multilateral and bilateral financial institutions including the Asian Development Bank (ADB) disburse funding to the end – users of such facilities. DFCC, therefore, manages many projects where credit and grant funding is administered towards market development and capacity building. In addition, the Bank continues in its partnership with worldwide institutions as listed below, managing many credit programs that benefit the people of Sri Lanka.

  • Asian Development Bank (ADB)
  • BlueOrchard Microfinance Fund – Luxembourg
  • Commerzbank Aktiengesellschaft
  • Commerzbank Finance & Covered Bond S.A.
  • Deutsche Investitions-und Entwicklungsgesellschaft (DEG), a subsidiary of KfW – Germany
  • European Investment Bank (EIB)
  • Kreditanstalt fur Wiederaufbau (KfW) – Germany
  • NederlandseFinancierings – MaatschappijvoorOntwikkelingslanden N.V. (FMO) – The Netherlands
  • Proparco, a subsidiary of Agence Française de Développement (AFD) – France
  • RAKBANK, also known as the National Bank of Ras Al Khaimah – United Arab Emirates
  • The World Bank
  • U.S. International Development Finance Corporation (DFC)

Notwithstanding the country’s dire economic situation and depressed prospects worldwide, the Investment Banking Unit relentlessly sought viable means of expanding the Bank’s funding avenues, by actively engaging in partner relationships as well as exploring other markets, to add to its Business Partner portfolio.

Correspondent Banks

The Bank maintains approximately 200 global Correspondent Banking relationships that are vital to international trade, while the following institutions act as the Bank’s nostro agents in their respective countries.

The following entities act as the Bank’s nostro agents in their respective countries:

Bank Currency Country
Bank of Ceylon (UK) Limited GBP UK
Bank of Ceylon ACU $ India
Bank of Ceylon ACU $ Maldives
Bank of China CNY Sri Lanka
Commerzbank AG CAD Germany
Commerzbank AG EUR Germany
HDFC Bank ACU $ India
JPMorgan Chase Bank USD USA
JPMorgan Chase Bank AUD Australia
Kookmin Bank USD South Korea
Mashreq Bank PSC ACU $ India
Mashreq Bank PSC AED UAE
Mashreq Bank PSC USD USA
Standard Chartered Bank (Pakistan) Limited ACU $ Pakistan
Standard Chartered Bank ACU $ Bangladesh
Standard Chartered Bank ACU $ India
Standard Chartered Bank AUD Singapore
Standard Chartered Bank EUR Germany
Standard Chartered Bank GBP UK
Standard Chartered Bank SGD Singapore
Standard Chartered Bank USD USA
Sumitomo Mitsui Banking Corporation JPY Japan
Uni Credit Bank AG EUR Germany
ZurcherKantonal Bank CHF Switzerland

Supply Chain Management and Procurement Policy

Over the years, the procurement procedure has undergone strict adherence to a transparent and rigorous policy framework. All registered vendors and on-boarding vendors are brought into a uniform platform which ensures an equal opportunity is provided to them to cater to the many needs of the Bank. Chaired by a Senior Vice President, the Procurement Committee ensures the supplies are sourced in a cost-efficient manner and mostly from domestic suppliers.

Suppliers are subjected to an exhaustive evaluation as to their business standing, quality of products, adherence to delivery timelines, pricing, and post-sale support. They are re-evaluated every two years and the decision to retain them in the Bank’s supply chain will depend on their performance during those two years. The Bank, on principle, prefers to source its needs from local suppliers as a commitment to the community it serves and the registered suppliers have access to advice on their financial and business issues, as a support service from the Bank.

High priced IT related procurement is routed through the IT Steering Committee (ITSC) while capital investments in specialised items may further be subjected to scrutiny by independent parties, where necessary.

Partners for Service Delivery

As a reputed and long standing financial institution that is customer-centric in its business approach, the Bank has created and nurtured a number of service delivery channels, primarily geared to afford its customers the premium service they expect from the Bank. These include, agency banking to create easy access to the customers, cash management, transport of security items belonging to the customers and ensuring that all its ATMs are well stocked with cash for customers to access their funds, when they need it.

Consulting with IT proficient partners is another aspect where the Bank ensures its technological and digital platforms are functioning at a high efficiency in a well secured manner protecting customer data and the Bank’s access channels.

Many other back office operations such as payroll and audit functions, document storage and archival, legal advisory, maintenance of equipment are also outsourced to our partners, to ensure a smooth operation of the Bank’s many operational aspects.

Name of the vendor Description of outsourced activity
AB Securitas (Pvt) Ltd. Cash transport, cash sorting vault operation, agency banking and cash loading for
off site ATM/CRMs
Aegis Services Lanka (Pvt) Ltd. Recruiting staff on an outsourced basis for the Contact Centre
Aegis Services Lanka (Pvt) Ltd. Data capture function for credit card application process (application screening and rectification has been given as an additional function)
Aegis Services Lanka (Pvt) Ltd. Credit Card data entry and hard copy validation and archiving
Aegis Services Lanka (Pvt) Ltd. Data entry operators for data capture function of credit card application process and
loan approval process in WF system attached to the PFS Hub
Aiken (Pvt) Ltd. POS terminals deployment and maintenance
Aiken (Pvt) Ltd. Supply and maintenance of cash counting machines
Aramex (Pvt) Ltd. Local card courier services
Aspire Systems Consulting (Pvt) Ltd. Temenos Infinity support and development
Certis Lanka Secure Logistics (Pvt) Ltd. Cash transport, cash sorting, vault operations and agency banking
Ceylon Business Appliances (Pvt) Ltd. Purchase of pawning dencimeters and maintenance
Ceylon Business Appliances (Pvt) Ltd. Payroll processing
CyberGate Services (Pvt) Ltd. Recovery of untraceable non-performing lease assets
D.K.K. Susil Samantha Recovery of debts
Domestic Express (Pvt) Ltd. Central archival operation (lodgement, new carton issuance, retrieval and collection)
EPIC Lanka (Pvt) Ltd. Credit Card management system maintenance activities (CR and Value Additions)
EPIC Lanka (Pvt) Ltd. POS terminals deployment and maintenance
Ernst & Young Sri Lanka Audit on payroll function
Fortuna Global (Pvt) Ltd. Website development and management
Ingenuous – Intuition Card transactions fraud monitoring system.
Innovation Quotient (Pvt) Ltd. Developing Innovation Road Map/Capacity Building
K & D Management Services (Pvt) Ltd. Service provider for Debt Recoveries
Lake House Printers & Publishers Printing cheque books
Loops Digital (Pvt) Ltd. Chatbot development and management
M J Holdings (Pvt) Ltd. Purchase of Pawning Dencimeters and maintenance
Management Systems Ltd. Payroll processing
Master Recovery Services (Pvt) Ltd. Recovery of untraceable non-performing lease assets
MCS Computer Systems (Pvt) Ltd. Cheque Deposit Machine deployment, maintenance and 1st level support
Mega Pay (Pvt) Ltd. Operating and deploying the megapay reload machine
Mobitel (Pvt) Ltd. mCash is an aggregator platform which allows payments to be done for various entities.
N-able (Pvt) Ltd. Managing the virtualised environment
Novustech Transact Lanka (Pvt) Ltd. Providing the ATM Switch and the Debit Card Management System.
Novustech Transact Lanka (Pvt) Ltd. ATM/CRM deployment maintenance, 1st level support, add new machines and replace machines, switch management and integrations
Novustech Transact Lanka (Pvt) Ltd. ATM Reconciliation
Panel and retained lawyers Title checking and security document execution and registration
Pronto Lanka (Pvt) Ltd. Local card courier services
Rimacve Management Services (Pvt) Ltd. Service provider for Missing NP Lease Asset Recoveries
Rimacve Management Services (Pvt) Ltd. Service provider for Debt Recoveries
Sensus BPO Services (Pvt) Ltd. Recovery of debts
Synapsys Limited Database administration, application support service, system administration, daily operations and other support services
Synapsys Limited Application service delivery, and other banking services
Sysenact (Pvt) Ltd. L3 support and developments for Temenos 24
TechCert Consultancy services for vulnerability assessment and penetration testing
Temenos Singapore Temenos T24 L1&L2 onsite support (FLS)
Thoolawie Consultancy Services (Pvt) Ltd. Registration of the mortgages and its connected documents for its due registration
and return
Toppan Forms (Colombo) Ltd. Printing and dispatching cheque books, cheques and pay orders, bank statements,
credit card statements.
Transnational Lanka (Pvt) Ltd. Central Archival Operation (lodgement, new carton issuance, retrieval and collection)
WM Group (Pvt) Ltd. Purchase and licence renewal and service of Pawning Scales

Strategic Alliances

The DFCC Group comprises several subsidiaries, joint ventures and associate companies adding bandwidth to its strategic focus.

DFCC Consulting (Pvt) Ltd. (Subsidiary)

Lanka Industrial Estates Ltd. (Subsidiary)

Synapsys Ltd. (Subsidiary)

Acuity Partners (Pvt) Ltd. (Joint venture)

National Asset Management Ltd. (Associate)

DFCC Consulting (Pvt) Ltd.

DFCC Consulting (Pvt) Ltd. is a fully-owned subsidiary involved in consultancy, advisory services and related areas since 2004. The company has undertaken local and international consultancy assignments in diverse fields such as programme management, engineering, environment and renewable energy for a wide variety of customers including the World Bank and the ADB. The company draws a pool of knowledge and expertise from DFCC Bank’s own staff and from external consultants, and where necessary, partners with overseas experts and firms.

Lanka Industrial Estates Ltd.

Lanka Industrial Estates Ltd (LINDEL), is a subsidiary that was established in 1992 as a public-private partnership with the Government of Sri Lanka to convert the remaining facilities of the defunct State Fertiliser Manufacturing Corporation plant at Sapugaskanda into an industrial estate and to operate and manage thereafter. LINDEL provides superior infrastructure and allied services to its tenants who are from a variety of sectors including chemical, construction material, diversified engineering, fertiliser, FMCG, metal fabrication and packaging.

Negotiations with the Ministry of Industries are ongoing as part of expansion efforts to setup and develop a second industrial estate. Plans to list on the CSE have been postponed, as the economic conditions in the country are not conducive at present.

Synapsys Ltd.

Synapsys Ltd., a fully owned subsidiary, is an innovative technology company leveraging a 16-plus year track record of client service across banks, capital markets, insurance and retail payments across Asia-Pacific and the UK. Synapsys focuses on financial inclusion, disruptive financial services - “Bank Different!” and alternative low cost payment networks. Synapsys forges trusted partnerships to build and operate cloud ready Fintech platforms by capitalising on domain expertise in the SME, Micro and Agri-finance areas. A multi-disciplinary team of professionals ranging from software engineers, banking consultants, payment solution experts, IT operations experts to operations management teams drive success.

Acuity Partners (Pvt) Ltd.

Acuity Partners (Pvt) Ltd. is a joint venture of DFCC Bank and Hatton National Bank created to consolidate all investment banking related activities of the two banks under a common platform. The Acuity Group, comprising of Acuity Partners (Pvt) Ltd., Acuity Securities Ltd., Acuity Stockbrokers (Pvt) Ltd., and Lanka Ventures PLC, offers a comprehensive suite of products and services in Corporate Finance, Fixed Income Securities, Stock Brokering, Margin Trading and Venture Capital Financing.

National Asset Management Limited

National Asset Management Ltd. (NAMAL), an associate company of DFCC Bank is Sri Lanka’s pioneer unit trust management company. On its founding in 1991, NAMAL launched Sri Lanka’s first ever unit trust – the National Equity Fund. NAMAL currently operates four unit trusts and provides fund management services and private wealth management solutions. NAMAL is resourced by qualified and experienced professionals in the financial industry.

Membership in Industry Associations

As the Bank’s footprint is spread among various business sectors, it maintains links in a number of business and professional associations such as;

  • American Chamber of Commerce in Sri Lanka
  • Association of Compliance Officers of Banks Sri Lanka
  • Association of Development Financing Institutions in Asia and the Pacific
  • Association of Professional Bankers Sri Lanka
  • Colombo Stock Exchange
  • Galle District Chamber of Commerce and Industry
  • International Chamber of Commerce Sri Lanka
  • Matara District Chamber of Commerce and Industry
  • Payment Card Industry Association of Sri Lanka
  • Securities and Exchange Commission of Sri Lanka
  • Sri Lanka Forex Association
  • The Ceylon Chamber of Commerce
  • The Ceylon National Chamber of Industries
  • The Employers’ Federation of Ceylon
  • The European Chamber of Commerce of Sri Lanka
  • The Financial Ombudsman Sri Lanka (Guarantee) Limited
  • The Institute of Chartered Accountants of Sri Lanka
  • The Mercantile Service Provident Society
  • The National Chamber of Commerce of Sri Lanka
  • The Sri Lanka Banks’ Association (Guarantee) Limited

As a premier Bank of repute and standing in Sri Lanka, the Bank places great value on its Business Partners as it believes strong partnerships contribute towards sustainable business growth to serve the community in an impactful manner.