Sri Lanka-based financial institution LB Finance has partnered with Huawei to revolutionise its core banking infrastructure. This strategic collaboration is set to elevate LB Finance’s extensive suite of services, including digital wallets, digital banking, loans, leasing, savings and deposits, microfinance, and payment cards, leveraging Huawei’s next-gen technology.

Accelerating digital transformation The main focus of this partnership has been LB Finance’s integration of Huawei’s OceanStor Dorado 5000 All-Flash storage systems. These cloud-ready systems are designed to handle high-speed transactions, large-scale data processing, and real-time monitoring, ensuring the integrity and performance of critical data operations. In November 2023, LB Finance upgraded its storage infrastructure to the Huawei OceanStor Dorado system in just three weeks, even during a peak period.

Since then, they have been moving their production services, data, and tools to the new platform. This transition has led to major improvements in performance, stability, and response times, easing operational pressures and enhancing customer satisfaction. This partnership is a testament to LB Finance’s commitment to digital transformation.

The company is dedicated to continuously enhancing its technological capabilities to deliver augmented financial services. By adopting cutting-edge solutions, LB Finance aims to stay ahead in a rapidly evolving digital landscape, ensuring its customers benefit from the latest innovations in fintech. Commenting on this collaboration, representatives from Huawei said they are happy to partner with LB Finance on their digital transformation journey.

This partnership underscores their dedication to providing solutions that enhance efficiency and support future growth. Together, they aim to enable LB Finance to introduce pioneering digital products. .