history

LankaClear's inception can be traced to the former Sri Lanka Automated Clearing House (SLACH) owned by the Central Bank of Sri Lanka (CBSL). In 2002 the CBSL took a policy decision to divest the activities of the SLACH and together with all licensed commercial banks operating in Sri Lanka, CBSL took shares to launch LankaClear (Pvt) Ltd.

LankaClear was incorporated on 8th February 2002 and commenced operations on the 1st of April in the same year.

2002

  • LankaClear was incorporated under the guidance and supervision of the Central Bank on 8th February 2002
  • Commenced operations on the 1st of April in the same year.

2006

  • Nationwide T + 1 cheque clearing
  • Launch of CITS - 1st in South Asia and 2nd in the world

2008

  • Fully functioned DR site for LankaClear payment systems

2009

  • Launch of ‘LankaSign’ - The only commercially operating Certification Authority in Sri Lanka

2010

  • Commenced all bank CD submission mode for CITS, ending physical cheque submission.
  • Nationwide same day electronic fund transfer (SLIPS), - 1st to implement in South Asia

2011

  • Introduced the direct connectivity mode for all banks for CITS settlement clearing with digital certificates for greater security
  • Due to efficiency enhancements of the CITS main clearing, CD (cheque) submission time extended from 6:30 pm to 7:30 pm
  • Inward return delivery time advanced from 2 pm to 1:30 pm, to reduce the cheque realisation time and greater convenience to the customers

2013

  • Launch of ‘LankaPay’ Common ATM Network
  • Outward (cheque) clearing cutoff time extended from 7.30 to 8.00 pm for customer convenience.
  • Implemented Help Desk call monitoring and tracking system

2014

  • Launch of BankCSIRT (Computer Security Incident Response Team) – A pioneering initiative in South Asia (renamed in 2015 as FinCSIRT)
  • Amalgamation of Sri Lanka Rupee Drafts into CIT System on 1st of July 2014.
  • CITS frontend hardware migrated to VM infrastructure for better performance and cost reduction.

2015

  • Launch of LankaPay Common Electronic Fund Transfer Switch (CEFTS) for real-time payments
  • Launch of LankaPay Shared ATM Switch (SAS) and LankaPay Card Management System (Cortex), thereby providing a hosted solution for ATM switching and Card Management
  • Launch of LankaPay Common POS Switch (CPS) & Common Mobile Switch
  • Launch of Online USD Payment System

2016

  • Launch of CITS Online Image Transfer Solution
  • Launch of “JustPay” via CEFTS
  • Upgrading CITS System Software

2017

  • Deployment of LankaPay Online Payment Platform in Primary/Standby/DR
  • Became the first entity in Sri Lanka to obtain the certification of PCI-DSS version 3.2
  • Launch of Customs Online Payment Platform in partnership with Sri Lanka Customs
  • Kicks off LankaPay Technnovation awards, the first ever payment technology innovation awards in Sri Lanka that aims at showcasing banks and financial institutions who have championed and pioneered payment technology innovations in the country
  • LankaSign upgrades system to be on par with Web trust 2.0, the latest international security standards and technology. Progressed to issue digital certificates in real time to any automated system including Android, iOS and other Smart mobile devices
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