CDB is currently disrupting the delivery method for its products while revolutionising the financial services industry in Sri Lanka. Through radical technological innovations, CDB has transformed the way financial services are conducted, providing cutting-edge solutions.

CDB’s tech disruption strategy is centered around enhancing resource efficiency by integrating digital channels and decreasing reliance on conventional brick-and-mortar distribution methods. By embracing a David vs Goliath mindset as a tech disruptor, the Company gains a competitive edge. Leveraging technology, CDB disrupts traditional time-based financial practices and enables the direct delivery of solutions to customers’ doorsteps, even in remote rural areas. This approach allows CDB to act as a conduit, reaching out to underserved markets and ensuring financial inclusion for all with the overarching goal to achieve the widest possible reach throughout Sri Lanka.

CDB’s evolution from traditional business to Fintech involved the pivotal shift from a traditional, technology-enabled financial institution to a technology-driven organisation that leverages its advanced technological capabilities to provide innovative financial products and services. This ongoing transformation has entailed embracing cutting-edge technology, developing its ICT infrastructure, enhancing digital channels, leveraging data and emerging technologies, expanding its ecosystems by engaging in partnerships, offering integrated services, focusing on customer-centricity, ensuring security and compliance, and most importantly, training its team members to embrace the new ethos and work-style.

While furthering its transformation to a TechFin company, CDB continues to use its tech capabilities and strategy to advance its sustainability agenda and reduce its dependence on brick-and-mortar channels for reaching out to customers. The Company aims to be a leader in technology-driven efficiency, and a carbon-neutral organisation, by expanding its capacity exponentially through technological disruption and creating a virtual presence without opening any new physical branches. This has resulted in lowering its carbon footprint, saving on capital expenditure, and reducing the use of human and material resources, as well as vastly improving efficiency and customer satisfaction without impacting its business processes and financial outcomes.

Furthermore, through the widespread adoption of process automation, team members who were engaged in manual processes have been redeployed to value-adding job roles that entail greater engagement with customers across multiple channels. This allows the centralised team to strengthen the branch operation in terms of capacity management, irrespective of changes in manpower requirements and volume, thereby increasing overall efficiency and productivity.