Sri Lanka’s fourth largest NBFI, Citizens Development Business Finance PLC (CDB) reiterated its presence as a pioneering fin-tech with a triumphant win at the Digital Trust Awards 2024 as the Technology Resilient Company of the Year in the Financial Sector. The awards ceremony which was organized by Information Systems Audit and Control Association (ISACA) Sri Lanka evidences CDB’s proven quest to foster digital trust through a robust foundation in technology resilience. It recognizes CDB’s excellence in infrastructure, effective cybersecurity and comprehensive recovery initiatives that will safeguard and ensure continuity of operations in the event of disruption.

The award illustrates a commitment to innovation, adaptability and proactive risk management in navigating the evolving landscape of technology. With CDB being ISO 27001 certified for 6 consecutive years is a testament for this award. The award augments the Company’s excellence in technology resilience and its mission to transform the digital innovation landscape in the financial services industry in Sri Lanka and this win is a reason behind CDB optimizing in the areas of Governance & Risk Management, collaboration and innovation, empowering culture of inclusivity, investing in infrastructure and business continuity.

Celebrating the prestigious win, Chief Information Security Officer of CDB, Shavindra Fernando noted, “This Digital Trust Award exemplifies CDB’s excellence in technology resilience and in ensuring a secure and resilient technological environment. Given that our business is built on customer confidence, digital trust is a vital component in financial transactions as it demonstrates strong cybersecurity measures and underscores our compliance with governance, risk and privacy regulations.”

Over its 29-year journey, CDB has striven to transform the digital innovation landscape in the financial service industry in Sri Lanka. CDB’s Technological Disruption Strategy has two verticals – Deliberate which focuses on redefining conventional business lines through tech disruptions and Emergent which involves crowdsourcing based on its platform ecosystem. The Company continues to strengthen its focus on innovation, enhancing and integrating solutions on its digital platforms to ensure secure and seamless end-to-end customer experiences. While investing continually to accelerate the development of digital capabilities, aggressive automation frameworks has been the crucial tool to tech disruption, making space for CDB to form a strong tech-driven financial institution.

Fernando also mentions that CDB began its third decade with the business model and strategy driven by a strong digital transformation by embracing sustainability and tech disruption where the Company has developed a solid foundation on very strong technological advancements building tech solutions designed for a more resilient future.

From Left to right: Mr. Vinod Jayaweera (Manager – IT Infrastructure), Mr. Tharanga Udawaththa (Head of Network and Security) -CDB, Ms. Madhusha Silva ( Deputy Manager –IT Risk), Mr. Ashen Jaysekera (Vice President – ISACA Sri Lanka Chapter), Dr. Dharmasri Kumaratunge (Secretary) -Ministry of Technology and Chairman of the Telecommunications Regulatory Commission of Sri Lanka, Mr. Shavindra Fernando (Chief Information Security Officer) CDB, Mr. Subash Chandra Bowse ( Country Director Sri Lanka and Maldives -BPC Banking Technologies, Mr. Lakmal Embuldeniya – President ISACA Sri Lanka Chapter, Mr. Rizvi Kareem (Deputy General Manager- IT) CDB, Mr. Adharshaan Devraj (IT Governance) CDB