Pan Asia bank recruits IBM for digital bank infrastructure upgrade
0
This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author.
Banks in Sri Lanka are undergoing major transformations to meet the needs of new and existing customers seeking personalized product experiences, transparency, and security, all in real time. To support future growth and 24/7 banking operations, Pan Asia Bank upgraded its technology infrastructure with advanced servers, AI-powered observability for application monitoring and scalable data storage. These helped the bank enhance cloud readiness and provide real-time visibility into application performance— reducing downtime and improving customer experience.
Working with its business partner South Asian Technologies (SAT), IBM deployed the latest AI and hybrid cloud solutions including IBM Power10 servers, IBM FlashSystem storage and IBM Instana for real-time, full-stack observability for application performance monitoring.
The transformation has already delivered strong results:
40% boost in application performance
50% faster deployment of new services
Improved uptime and lowered operational costs
With this modernization, Pan Asia Bank is better positioned to meet the evolving needs of Sri Lankan customers and drive digital innovation in the banking sector.
'As part of our commitment to deliver impactful, innovative, and responsible banking solutions to our customers and stakeholders, refreshing our technology systems that power our services was critical,' said Kanchana Devasurendra, Chief Information Officer, Pan Asia Bank. 'With their proven track record of helping banking institutions around the world digitally transform, it was a natural choice for us to adopt these solutions from IBM. We believe that this transformation will help us strengthen our customer relationships through better service delivery and accelerate our innovation capability.'
Speaking on the collaboration, Sandip Patel, Managing Director, IBM India & South Asia said, 'Sri Lanka presents tremendous opportunities for digital transformation, and we're proud to collaborate with forward-thinking institutions like Pan Asia Bank in harnessing the power of AI and hybrid cloud. By combining the right system, software, and services with the local expertise of our ecosystem partners, we're helping Sri Lankan enterprises tackle complex challenges, unlock new possibilities, and drive measurable business outcomes — ultimately contributing to country's broader economic growth.'
Recognizing the unique needs of the Sri Lankan market, IBM continues to foster strategic collaborations and co-create tailored solutions that help local businesses drive efficiency, boost productivity, and achieve sustainable growth across industries.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Independent
9 minutes ago
- The Independent
Terror laws watchdog warns of risk posed by extremists using AI
Terrorists will use artificial intelligence (AI) to promote their ideologies and plan atrocities, with 'chatbot radicalisation' a problem that needs to be countered, a watchdog has warned. Jonathan Hall KC said generative AI could be used for propaganda purposes, attack planning and spreading disinformation which may trigger acts of terrorist violence. Mr Hall, the independent reviewer of terrorism legislation, suggested new laws should be brought in to ban the creation or possession of computer programmes designed to stir up racial or religious hatred. Terrorist chatbots already exist 'presented as fun and satirical models' but given the right prompts they are willing to promote terrorism, he said in his annual report. Mr Hall said: 'The popularity of sex-chatbots is a warning that terrorist chatbots could provide a new radicalisation dynamic, with all the legal difficulties that follow in pinning liability on machines and their creators.' The watchdog highlighted the case of Jaswant Singh Chail, who climbed into the grounds of Windsor Castle in 2021 armed with a crossbow after conversing with a chatbot called Sarai about planning the attack. More widely, Mr Hall said 'generative artificial intelligence's ability to create text, images and sounds will be exploited by terrorists'. Groups such as al Qaida could avoid the technology because of their belief in 'authentic messages' from senior leaders but it could be 'boom time for extreme right wing forums, antisemites and conspiracy theorists who revel in creative nastiness'. Terrorist groups could use AI to generate propaganda images or translate text into multiple languages. The technology could be used to produce deepfakes to bring 'terrorist leaders or notorious killers back from the dead' to spread their message again. Generative AI could be used to provide technical advice on avoiding surveillance, or make knife-strikes more lethal – reducing the need for would-be terrorists to receive training from other people. But he said that current safeguards may deter attack planners from using AI models until offline versions were readily available. He noted it had also been argued that in certain circumstances AI could be used to extend the way attacks are carried out, by potentially helping to create biological or chemical weapons or generating code for cyber attacks. Warning about the spread of disinformation online, Mr Hall said the storming of the US Capitol on January 6 2021 emerged from a 'soup of online conspiracy and a history of anti-government militarism that had been supercharged by the internet'.
The Guardian
20 minutes ago
- The Guardian
Trump permits Nvidia to sell advanced chips in China, CEO says
Nvidia's CEO, Jensen Huang, says the chipmaker has won approval from the Trump administration to sell its advanced computer chips used to develop artificial intelligence to China. 'Today, I'm announcing that the US government has approved for us filing licenses to start shipping H20s,' Huang told reporters in Beijing. The news came in a company blog post late on Monday. 'The US government has assured Nvidia that licenses will be granted, and Nvidia hopes to start deliveries soon,' the post said. Huang also spoke about the coup on China's state-run CGTN television network in remarks shown on X. Chinese buyers have lined up to buy the semiconductors in response to the news, according to early reports. 'It's so innovative and dynamic here in China that it's really important that American companies are able to compete and serve the market,' he said. He noted that half of the world's AI researchers are in China. Huang recently met with Donald Trump and other US policymakers and this week is in Beijing to attend a supply chain conference and speak with Chinese officials. The broadcast showed the executive meeting with Ren Hongbin, the head of the China Council for Promotion of International Trade, host of the China International Supply Chain Expo, which Huang was attending. Nvidia is an exhibitor. Nvidia has profited enormously from rapid adoption of AI, becoming the first company to have its market value surpass $4tn last week. However, the trade rivalry between the US and China has been weighing heavily on the company and the industry writ large. Sign up to TechScape A weekly dive in to how technology is shaping our lives after newsletter promotion Washington has been tightening controls on exports of advanced technology to China for years, citing concerns that knowhow meant for civilian use could be deployed for military purposes. The emergence of China's DeepSeek AI chatbot in January renewed concerns over how China might use the advanced chips to help develop its own AI capabilities that would compete with those from the US. In January, before Trump began his second term in office, the Biden administration launched a new framework for exporting advanced computer chips used to develop artificial intelligence, an attempt to balance national security concerns about the technology with the economic interests of producers and other countries. Then in April, Trump's White House announced that it would restrict sales of Nvidia's H20 chips and AMD's MI308 chips to China. Nvidia had said the tighter export controls would cost the company an extra $5.5bn, and Huang and other technology leaders have been lobbying Trump to reverse the restrictions. They argue that such limits hinder US competition in a leading-edge sector in one of the world's largest markets for technology. They've also warned that US export controls could end up pushing other countries toward China's AI technology.
Reuters
29 minutes ago
- Reuters
Broadcom launches new Tomahawk Ultra networking chip in AI battle against Nvidia
SAN FRANCISCO, July 15 (Reuters) - Broadcom's (AVGO.O), opens new tab chip unit unveiled on Tuesday a new networking processor that aims to speed artificial intelligence data crunching, which requires stringing together hundreds of chips that work together. The new chip is the latest piece of hardware that Broadcom has brought to bear against rival AI giant Nvidia (NVDA.O), opens new tab. Broadcom helps Alphabet's Google (GOOGL.O), opens new tab produce its AI chips, which are perceived by developers and industry experts as one of the few viable alternatives to Nvidia's powerful graphics processors (GPUs). Dubbed the Tomahawk Ultra, Broadcom's chip acts as a traffic controller for data whizzing between dozens or hundreds of chips that sit relatively closely together inside a data center, such as inside a single server rack. The chip aims to compete with Nvidia's NVLink Switch chip which has a similar purpose, but the Tomahawk Ultra can tie together four times the number of chips, Ram Velaga, a Broadcom senior vice president, told Reuters in an interview. And instead of a proprietary protocol to move the data, it uses a boosted-for-speed version of ethernet. Both companies' chips help data center builders and others tie as many chips as possible together within a few feet of each other, a technique the industry calls "scale-up" computing. By ensuring close-by chips can communicate with each other quickly, software developers can summon the computing horsepower necessary for AI. Taiwan Semiconductor Manufacturing ( opens new tab will manufacture the Ultra line of processors with its five nano-meter process, Velaga said. The processor is now shipping. It took Broadcom's teams of engineers roughly three years to develop the design, which was originally built for a segment of the market known as high-performance computing. But as generative AI boomed, Broadcom adapted the chip for use by AI companies because it is suited to scaling up.
