Ideahub drives HNB’s digital strategy

Introduction

Ideahub, the primary digital partner of HNB, Sri Lanka’s largest private-sector commercial bank, has successfully completed years of collaboration with HNB in driving and supporting the bank’s digital transformation in the retail business. Since its appointment in 2019, ideahub has played a crucial role in implementing key customer touchpoints and driving HNB’s digital strategy. The partnership between HNB and ideahub has resulted in the delivery of unique and exceptional services to customers, leading HNB to win the prestigious LankaPay Technnovation Award 2023 for Bank of the Year for Excellence in Customer.

Symphony powers digitalisation of HNB

HNB’s retail banking segment operates on Symphony, ideahub’s fully integrated, secure, and customizable platform. Symphony combines various domains such as PayTech, Banktech, LifeTech, and Reward Tech to create a comprehensive and robust solution. HNB’s SOLO Digital Wallet, Internet Banking, and Mobile Banking platforms are all components of Symphony, designed specifically for HNB. Symphony has been developed over a span of 10 years with inputs from industry-leading customers in the South Asia region and Australia, including HNB, Dialog Axiata, and PiPay of Cambodia.

Symphony acts as the final painting to HNB’s digital strategy, transforming the bank’s retail banking operations and making them faster, more secure, simpler, and more reliable. The digital platform has been instrumental in the opening of more than 50% of Fixed Deposits at HNB, showcasing its success in driving the digitalization of the bank’s services.

A holistic platform for Banks, FinTech, and Telcos

Symphony’s ecosystem offers a wide range of applications that cater to the primary aspects of business in the financial and telecom industries. Through the digital touchpoints provided by Symphony, users can easily access their accounts, make purchases from merchants, pay utility bills, and connect to payment gateways using credit and debit card services. Additionally, users can engage in chat conversations, send and receive digital gifts, while merchants can showcase their product catalogues and provide exclusive offers and discounts. The unique customer loyalty plugin available on Symphony sets it apart from its international competition. Financial institutions can leverage Symphony to deliver line-of-business and additional services to their retail customers, all at a fraction of the cost compared to other competitive products in the market.

ConnectTech – Seamless Integration with SpiderCraft middleware

Symphony’s seamless integration with various industry-standard interfaces and systems is made possible by ideahub’s proprietary middleware, SpiderCraft. SpiderCraft acts as a state-of-the-art integration solution, allowing Symphony to interoperate with new and legacy payment interfaces used by client organizations. The pre-configured connectors provided by Symphony facilitate easy and speedy integration, ensuring a seamless user experience for all platform users.

SecureTech – Industry-standard security

Security is at the core of Symphony’s platform, with features such as secure identification, authentication, fraud management, role definition, and permission management. Symphony complies with the widely accepted PCI DSS security standard in the industry, ensuring robust protection for user data. The platform has been designed and implemented with enterprise-grade security standards at each tier of its architecture. Both data at rest and in transit are encrypted using enterprise-grade Hardware Secure Modules, guaranteeing the highest level of security for HNB and its customers.

Predictive capability and machine learning led revenue opportunities

Symphony’s cross-functionality and coordination, combined with its data mining and analytical tools, provide the client organization with valuable revenue opportunities from multiple channels. The platform’s machine learning capabilities enable it to offer users an intuitive and user-centric experience, eliminating frustrations commonly associated with other technology platforms. Symphony’s versatility makes it a valuable asset not only for banks but