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Epic Lanka unveils digitalization strategy beyond 25 years with 20 innovative products


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Epic Lanka, a wholly Sri Lankan-owned fintech and digital transformation solutions provider with a quarter-century of experience in the IT industry, recently marked the momentous occasion of their 25th anniversary. 

This milestone underscores their enduring commitment to excellence and their significant contributions to the field of financial technology. Evolving from its roots as a project-driven entity, Epic now boasts a remarkable portfolio of 20 unique Intellectual Properties (IPs). 

Positioning itself as a formidable player in the global IT arena, these IPs will be promoted in foreign markets through strategic partnerships with other leading software brands, further solidifying Sri Lanka’s reputation as an IT knowledge and solutions hub. 

Over the past 25 years, Epic has employed a workforce of more than 6,000 employees, predominantly consisting of local IT graduates, while also providing opportunities to over 3,000 interns. 

The industry leader of domain expertise, innovative solutions by Epic have modernized state enterprises, transformed the payments landscape. Considering the scope and influence, it’s estimated that Epic’s solutions and innovations have a direct or indirect impact on the daily lives of all  Sri Lankans.

Moreover, Epic’s expansion into East Asia has seen the company provide its cutting-edge solutions to foreign clients, reinforcing its position as a global leader in the industry. In recognition of its outstanding contributions, Epic was adjudged as the best ICT solutions company in Sri Lanka and also won Sri Lanka’s first-ever Gold award at the Asia Pacific ICT Alliance (APICTA) Awards. These accolades underscore the company’s commitment to excellence and innovation.

Epic’s product solutions portfolio encompasses a range of impressive offerings, each catering to specific business needs. For instance, PreveNET NAC stands out as a multifunctional and dependable solution, assisting organizations in their transition from hardware-based Network Access Controllers (NACs) to a more versatile software-based alternative. Meanwhile, Collectmate provides a comprehensive and holistic approach to managing end-to-end tasks and processes within the realm of debt collections and recoveries. Doxmate, on the other hand, offers an enterprise content management and business process automation solution, featuring document management systems and workflow solutions. Paytect is a fully-fledged card management system that facilitates the entire spectrum of card issuing, acquiring, and transaction processing functions while Digiface emerges as a digital onboarding eKYC and vKYC solution, developed by Epic, offering a comprehensive approach to streamline digital onboarding processes across various banking products while ensuring compliance with pertinent regulations. These solutions collectively contribute to enhancing operational efficiency and addressing the evolving needs of businesses in today’s digital landscape.

For a quarter-century, Epic has been at the forefront of technological innovation in Sri Lanka. Dr. Nayana Dehigama, Epic Technology Group Founder and Executive Chairman reflects on this remarkable journey, stating, ” We recently commemorated the 25th anniversary of Epic as it embarks on a transformative journey. From humble beginnings, we have now emerged as a leading force in enterprise digital transformation. This milestone is a result of the dedication, passion, and expertise of our exceptionally talented team, who consistently push the boundaries of what can be achieved. They have enabled us to deliver cutting-edge solutions that have positively impacted the lives of Sri Lankans.

“Epic Lanka Managing Director and Chief Executive Officer, Viraj Mudalige, shares his vision, stating, “Our Research and Development centre in Sri Lanka that is equipped with advanced technology has played a key role in nurturing an innovative culture, leading to the development of cutting-edge solutions that have earned us many national and international awards.”Looking ahead, Epic remains committed to pushing the boundaries of innovation and delivering exceptional value to its stakeholders. Mudalige elaborates, “We are actively pursuing opportunities to expand our global presence and introduce our outstanding solutions to markets beyond Asia. Our primary objective is to maintain our influence in shaping the future of the global fintech industry. With 20 proprietary products in our portfolio, we are transitioning from project-based ventures to building a comprehensive suite of cutting-edge software solutions. As we look ahead to the next financial year, Epic envisions forging strategic partnerships with software companies and nations worldwide to bring our ambitious goals to fruition. Epic Lanka is set to redefine the IT landscape, both in Sri Lanka and on the global stage.

“Founded in 1998, Epic Technology Group is an award-winning regional technology leader in adopting and delivering modern technology across the Banking, Financial Services, and Government sectors in local and international markets. Equipped with ISO 9001:2015, ISO 27001:2013, PCI3DS, and CMMi Level 3 certification, Epic has more than 25 years of experience in Fintech, information system security, enterprise digitalization, mobile applications, e-payment application development, e-government solutions, and document management systems. .

For more information, please visit www.epictechnology.lk.

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End of parate relief for large SMEs

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The grace period granted to small and medium-sized enterprises (SMEs) under Sri Lanka’s Parate Execution Law officially ended midnight yesterday (June 30) for businesses with loans exceeding Rs. 50 million.

The Parate Law grants banks the authority to seize properties pledged as collateral without court proceedings. Although its implementation had been suspended for three months by the current administration—and for six months earlier under former President Ranil Wickremesinghe—it has now been reinstated, triggering serious concern among entrepreneurs.

Deputy Minister of Economic Development – Dr. Anil Jayantha Fernando  has stated that the government intends to hold discussions with all relevant parties in the coming days to address the issues linked to the law’s reimplementation.

Meanwhile, Opposition Leader – Sajith Premadasa has warned that the re-implementation of the Parate Execution Law could lead to the rapid auctioning of assets from small, medium, and micro businesses, putting them at risk.

In a statement yesterday (June 30), he emphasized that these businesses contribute over 50% to Sri Lanka’s Gross Domestic Production (GDP) and employ over 04 million people.

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Special FD scheme for senior citizens introduced

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The Ministry of Finance has officially launched the special fixed deposit scheme for senior citizens.

Proposed in the Budget 2025, the scheme which is open to resident Sri Lankan citizens aged 60 years and above, comes into effect from today (July 01).

Eligible fixed deposits can be opened between July 01, 2025, and December 31, 2025, and must have a 12-month tenure.

The scheme will be implemented through the 17 licensed commercial banks; five (05) government banks and twelve (12) private banks that have confirmed participation. As part of the process, customers are required to provide a declaration confirming that the funds deposited are their own, their monthly income is less than Rs. 150,000, consenting to the sharing of relevant information with the Ministry of Finance, Planning and Economic Development for verification purposes, agreeing that any false information provided will result in disqualification from receiving the interest subsidy.

The government has allocated Rs. 30 billion to cover interest subsidies under this initiative.

Key features of the scheme:
– Deposit Period: 12 months (1 year)

– Deposit Limit: Maximum of Rs. 1 million

– Interest Benefit: Depositors will receive either

  • An additional 3% over the Average Weighted Fixed Deposit Rate (AWFDR), or
  • An additional 3% over the declared fixed deposit rate—whichever yields a higher return.

Senior citizens interested in availing themselves of the benefits are encouraged to visit the nearest bank branch starting today. Applicants must provide valid documentation, including their National Identity Card (NIC) and Taxpayer Identification Number (TIN) issued by the Inland Revenue Department (IRD).

This scheme aims to support the financial security of senior citizens by offering them a safer and higher-yielding savings option.

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LP Gas prices to remain unchanged for July

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Litro Gas Lanka Limited and Laugfs Gas PLC  have said that LP gas prices will remain unchanged for the month of July.

Accordingly, the prices of Litro Gas cylinders are as follows;

  • 12.5kg – Rs. 3,690
  • 5kg – Rs. 1,482
  • 2.3kg – Rs. 694

The current district-wise prices are as follows; https://www.litrogas.com/price-list/ 

Meanwhile, prices of Laugfs Gas cylinders are as follows;

  • 12.5 kg – Rs. 4,100
  • 5kg – Rs. 1,645
  • 2kg – Rs. 658

The current district-wise prices are as follows; https://www.laugfsgas.lk/pricelist.php 

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