National Savings Bank is the only bank in Sri Lanka backed by a 100% Government Guarantee on deposits, a distinction that has made it a symbol of stability and security for generations of savers. Established to encourage thrift, financial discipline and economic empowerment, NSB has earned that confidence over nearly two centuries. Today, that trust is being rebuilt for a digital economy. NSB has migrated to the Temenos T24 core banking platform, expanded digital channels through NSB Pay and NSB Digital Drive, and applied AI to fraud detection, data analytics and risk management. With over 10 million customer relationships, a branch and postal banking network reaching every part of the country, and a fast-growing digital footprint, NSB is rebuilding what a national savings bank looks like without abandoning what it was built on. That transformation extends to sustainable finance. NSB’s green lending portfolio has been recognised with the WSBI Climate Finance Leadership Award, serving the next generation of customers while continuing its traditional role as a trusted financial partner. Dr. Harsha Cabral, PC, Chairman at National Savings Bank, and Rohana Bandara Weerakoon, General Manager/Chief Executive Officer at National Savings Bank, share their perspectives on NSB’s heritage, transformation journey and vision for the future.
With a legacy spanning nearly 200 years, how does NSB leverage its rich history to define its identity as a modern savings bank?
Dr. Harsha Cabral: NSB’s heritage is not merely a matter of history. It represents a responsibility that generations of Sri Lankans have entrusted to us. The institution we represent today rests on a long tradition of encouraging savings, financial responsibility and economic empowerment. Over nearly two centuries, the concept of savings has remained deeply connected to the aspirations of individuals and families who seek security, stability and a better future.
When I look at our history, I do not see it as something that belongs only to the past. I see it as a foundation upon which we continue to build. The greatest strength of NSB has always been trust. Technology, products and banking methods may change over time, but the fundamental relationship between a customer and a bank still rests on confidence. As a national institution, we carry a unique responsibility. Our mandate extends beyond conventional banking. We have historically played an important role in promoting saving among school children, supporting families, encouraging financial discipline and extending banking access to communities across the country. This contribution to national development remains central to our purpose.
The modern banking environment requires institutions to adapt continuously. However, transformation does not mean abandoning our heritage. It means using our heritage as a source of strength while we embrace innovation. The values that built NSB, trust, security, inclusivity and responsibility, remain equally relevant in a digital world. Today’s customers may interact with us through mobile applications, digital platforms and self-service channels rather than only through traditional branches. Nevertheless, our underlying promise remains unchanged: NSB will continue to be a trusted financial partner that protects customer interests and supports their aspirations.
Our vision is to become a truly modern savings bank, one that combines the emotional connection of a trusted national institution, the efficiency, convenience and innovation that customers expect from a contemporary financial services organisation.
Rohana Bandara Weerakoon: NSB’s greatest competitive advantage is the trust we have accumulated over generations. Many of our customers connect with NSB through family relationships: grandparents, parents and children who have all experienced the value of saving through our institution. This intergenerational relationship reflects the strength of our brand.
However, maintaining relevance requires continuous evolution. A bank cannot rely only on its history; it must constantly create value for customers in the present and prepare for the future. Our transformation journey follows a simple principle: preserve the trust, enhance the experience. Our customers continue to value the stability and security they associate with NSB, but their expectations have changed significantly. They expect banking services to be faster, simpler and accessible anytime and anywhere. So, we have focused on creating a seamless connection between our physical network and our digital ecosystem.
Initiatives such as NSB Digital Drive reflect our commitment to making digital banking accessible, not only to technologically advanced customers but also to communities that are beginning their digital journey. We believe digital transformation does not replace human interaction; it enhances customer empowerment. Our extensive branch network, postal banking presence and digital platforms complement each other, so customers can choose the banking method that best suits their lifestyle.
We have a strong foundation in financial inclusion. Products such as Hapan Children’s Savings, Sthree Women’s Savings and solutions designed for senior citizens demonstrate our commitment to supporting customers throughout every stage of life. The modern NSB, therefore, combines tradition and technology. We remain the trusted savings bank that Sri Lankans have known for generations, while we become a digitally enabled institution prepared to meet the expectations of tomorrow. Our ambition is clear: we want future generations to look back at NSB and recognise not only a bank with a remarkable history, but a bank that successfully transformed itself for the future.
The 100% Government Guarantee has long been the reason millions of savers chose NSB. As digital channels replace the branch counter for many customers, how does that promise of security carry through into the modern banking experience?
Dr. Harsha: The foundation of banking is trust. Technology can improve speed, convenience and accessibility, but trust remains the most valuable asset a financial institution can possess. The 100% Government Guarantee on deposits is a unique strength that differentiates NSB. It gives our customers a clear assurance that their savings are protected and shows that we stand firmly behind our responsibility to safeguard public confidence.
In today’s environment, security must extend beyond the traditional understanding of protecting physical deposits. Digital transformation has introduced new dimensions of responsibility, including cybersecurity, data protection, operational resilience and customer awareness. Our commitment, therefore, is to carry the same confidence customers have experienced at our counters for decades into every digital interaction. A customer using a digital platform should feel the same level of security as a customer visiting a branch. This requires us to invest in technology infrastructure, governance frameworks, risk management practices and continuous improvement.
As a state institution, we carry a broader responsibility to promote confidence in the financial system. Encouraging people to adopt digital banking requires more than providing the technology; we must also ensure that customers understand how to use digital services safely. The future of banking will be increasingly digital, but the principles of responsible banking remain timeless. Security, transparency and customer protection will continue to guide NSB’s journey.
Rohana: The transition towards digital banking has changed how customers interact with financial institutions. They still expect reliability, security and trust. Our approach to digital transformation has always been customer focused. We are not simply introducing digital platforms; we are building a secure ecosystem where customers can confidently manage their financial needs.
Our modern technology infrastructure has strengthened our ability to deliver reliable services. Enhanced system capabilities, real-time processing and improved integration allow us to provide faster and more convenient banking experiences. At the same time, we recognise that digital adoption requires confidence. Through initiatives such as NSB Digital Drive, we focus on digital awareness and education, so that customers understand how digital banking can benefit them and how they can use it securely.
We carry a particularly significant responsibility here, because NSB serves a diverse customer base, including urban digital users as well as communities where digital banking adoption is still developing. So, we have built our strategy on inclusion, ensuring that technology becomes an enabler rather than a barrier. The NSB brand has always represented security and dependability. As we move towards a more digital future, our objective is to keep these values unchanged while we deliver a more convenient, intelligent and personalised banking experience.
The migration to the Temenos T24 core banking platform brought 99.98% system uptime and realtime data integration across 263 branches. What has the new infrastructure made possible that the old one couldn’t?
Dr. Harsha: The transformation of a financial institution is ultimately a transformation of its ability to serve people. Technology is an important enabler of that transformation, but we measure its true value by the improvements it creates for customers, employees and the communities we serve. Implementing a modern core banking platform marks a significant milestone in NSB’s journey towards becoming a futureready financial institution. A banking system is the foundation upon which all customer interactions, operational processes and service innovations are built. Strengthening this foundation was therefore essential to ensure that NSB remains competitive and relevant in an increasingly digital financial environment.
For decades, NSB has grown alongside Sri Lanka’s economic development. As our customer base expanded and banking expectations evolved, we recognized the importance of investing in infrastructure capable of supporting the future requirements of our customers. A modern core banking environment gives us greater integration, improved operational efficiency, enhanced data management and the ability to introduce innovative products and services more effectively. It gives the Bank the agility we need to respond to changing customer needs while we maintain the reliability and security that NSB has always represented.
“Through our extensive branch network and postal banking service points, we have built relationships with communities across Sri Lanka, including areas where access to conventional banking facilities may have historically been challenging.”
However, technology transformation is not only about systems. It is also about changing the way an organisation thinks and operates. A modern platform creates opportunities for better decision-making through improved analytics, stronger risk management and more personalised customer engagement. For a bank with a national responsibility, technology also plays a critical role in advancing financial inclusion. By strengthening our digital capabilities, we can extend quality banking services beyond traditional locations and reach customers who previously faced barriers to accessing financial services.
The future of banking will belong to institutions that can successfully combine technology with trust. Our investment in modern infrastructure reflects our commitment to ensuring that our customers receive services that match international standards, while we preserve the confidence they have placed in us for generations.
Rohana: The transition to a modern core banking platform was one of the most significant transformation initiatives we have undertaken at NSB. It was not simply a technology upgrade; it was a strategic investment in the future capability of the bank. A core banking system is the central nervous system of a financial institution. It determines how effectively a bank can manage transactions, understand customer requirements, develop products and deliver services. The new infrastructure has created several opportunities that we could not achieve within the limitations of our traditional systems.
Firstly, it gives us greater real-time processing capability. Customers today expect immediate access to their financial information and seamless service experiences across different channels. A modern platform meets this expectation by enabling faster and more connected banking services. Secondly, it strengthens our ability to use data effectively. Banking is increasingly becoming data-driven. Understanding customer behaviour, identifying service improvements and developing relevant solutions require accurate and timely information. Our enhanced infrastructure gives us a stronger foundation for analytics and customer-centric decision-making. Thirdly, it enables greater innovation. We can develop new digital products, improved customer journeys, automated processes and integrated services more efficiently when we support them with a flexible technology environment.
The transformation also supports our vision of creating an interconnected banking ecosystem, where branches, digital channels, payment platforms and customer service functions operate together seamlessly. For NSB, digital transformation is not about technology alone. It is about improving the overall customer experience. Whether a customer visits a branch, uses NSB Pay, interacts through digital channels or accesses services through our extended network, they should experience consistency, convenience and reliability.
Successfully implementing this transformation required significant collaboration among our employees, technology partners and stakeholders. It reflects NSB’s ability to embrace change while we maintain operational excellence. Going forward, this foundation will support our continued journey towards becoming a smarter, more agile and more customer-focused bank.
NSB has identified AI as a strategic enabler, currently deployed in fraud detection, data analytics, and risk management. For a state institution managing over 10 million accounts, what does responsible AI adoption look like in practice?
Dr. Harsha: Artificial Intelligence represents one of the most significant technological developments shaping the future of financial services. However, technology must always remain guided by principles of responsibility, ethics and customer protection. For an institution such as NSB, which serves millions of Sri Lankans and manages relationships built over generations, we must approach AI adoption carefully and strategically.
Responsible AI adoption begins with recognising that technology should enhance human decision-making. We see the purpose of AI as improving efficiency, strengthening security, identifying opportunities and providing better services to customers. Areas such as fraud prevention, risk assessment and data analysis matter in particular, because they directly protect our customers and strengthen the stability of the financial system. At the same time, governance becomes increasingly important. We need strong frameworks to ensure transparency, accountability, data privacy and appropriate oversight. Financial institutions must always maintain customer confidence while they adopt new technologies.
“By integrating digital capabilities into this established network, initiatives such as e-POST create new opportunities for us to bring modern financial services closer to people.”
AI also presents opportunities for greater financial inclusion. By analysing patterns and understanding customer needs more effectively, we can design more relevant products and services for different segments of society. For NSB, technology adoption will always align with our broader purpose: empowering Sri Lankans through secure, accessible and responsible financial services. The future of banking will not be defined by technology alone, but by how responsibly institutions use technology to create value for people.
Rohana: Artificial Intelligence is becoming an important component of modern banking, and we view it as a strategic capability that can strengthen customer experience, operational efficiency and risk management. Our approach is based on practical value creation. We focus on areas where AI can deliver meaningful benefits while we maintain strong governance standards.
One important area is fraud detection. As banking becomes increasingly digital, we must continuously strengthen our ability to identify and prevent suspicious activities. AI-based solutions help us analyse patterns, identify unusual behaviour and support faster responses.
Another important area is data analytics. With millions of customer relationships, we have access to valuable insights that help us better understand customer needs. Using this data responsibly allows us to create more personalised solutions and improve service delivery. AI also supports our risk management by giving us enhanced analytical capabilities, enabling better decision-making and stronger operational resilience. However, successful AI adoption depends on more than technology. It requires skilled employees, proper governance and a culture that understands both the opportunities and responsibilities that come with advanced technologies. At NSB, we believe technology should make banking more human, not less human. AI should free our employees to focus on higher-value interactions while improving the convenience and quality of the services we provide to customers. Our objective is to build a digitally intelligent bank that remains deeply connected to the trust and values that define NSB.
From Hapan for children to Gaurawa for senior citizens, NSB has products for Sri Lankans at every stage of life. How does the bank design products that genuinely reflect the financial behaviours of the communities it serves?
Dr. Harsha: One of NSB’s greatest strengths is our understanding that banking is ultimately about people and their aspirations. Financial needs change throughout a person’s lifetime. A child’s first savings account represents the beginning of financial awareness. A young person’s savings journey supports education and future ambitions. Families seek security and investment opportunities, while senior citizens require solutions that provide stability and confidence. NSB has always designed products with this life-cycle approach in mind.
Our responsibility goes beyond offering financial products. We aim to encourage positive financial habits and support people in achieving their personal goals. Products such as Hapan have played an important role in introducing children to the value of saving from an early age. Similarly, the products we have designed for women, professionals, families and senior citizens reflect our commitment to serving diverse customer groups. Understanding communities requires us to listen to them. We base our product development on customer insights, changing lifestyles and evolving economic realities. As Sri Lanka continues to transform, NSB will continue developing solutions that support financial inclusion, economic participation and personal financial wellbeing.
Rohana: Customer-centricity sits at the heart of our product development philosophy. We do not create a successful banking product simply because we spot a market opportunity; we create it because it addresses a genuine customer need. NSB holds a unique advantage because of our long-standing relationship with communities across Sri Lanka. Through our branches, postal network and digital channels, we continuously gather insights about customer expectations and challenges.
We therefore design our products around different stages of life. For children, we focus on building savings discipline and financial awareness. For women, we focus on empowerment and financial independence. For families, we provide solutions that support long-term aspirations. For senior citizens, we develop products that provide security and peace of mind. The future of product development will increasingly involve technology, data analytics and personalised solutions. By combining our understanding of customers with digital capabilities, we aim to create more relevant and convenient financial experiences. Our goal is simple: to ensure that NSB remains a trusted financial companion throughout every stage of a customer’s journey.
NSB’s over 4,000 postal service points have long extended the bank’s reach into remote communities. With e-POST bringing digital banking capabilities to these locations, how do you see technology empowering these communities?
Dr. Harsha: Financial inclusion has always been at the heart of NSB’s purpose. From our earliest days, we have recognised that access to financial services should not depend on geography, economic circumstances or social barriers. One of NSB’s most distinctive strengths is our ability to combine a nationwide physical presence with modern digital capabilities. Through our extensive branch network and postal banking service points, we have built relationships with communities across Sri Lanka, including areas where access to conventional banking facilities may have historically been challenging.
The postal network represents a unique national asset. It connects communities, families and individuals throughout the country. By integrating digital capabilities into this established network, initiatives such as e-POST create new opportunities for us to bring modern financial services closer to people. Technology should not create a divide between those who are digitally advanced and those who are still beginning their digital journey. Instead, it should become a bridge that enables greater participation in the formal financial system. For many Sri Lankans, especially in rural communities, the combination of trusted human interaction and digital convenience provides the most effective pathway towards financial inclusion. A customer may initially seek assistance through a postal banking point, gradually build confidence in digital transactions and eventually enjoy the full benefits of digital banking.
This approach aligns strongly with NSB’s national responsibility. We are not simply introducing technology; we are using technology as a tool for empowerment. The future of banking will require institutions to think beyond traditional boundaries. Financial inclusion will depend on creating ecosystems where physical accessibility, digital innovation and customer education work together. As a national savings institution, NSB will continue to play a leading role in ensuring that the benefits of modern banking reach every segment of society.
Rohana: NSB’s postal banking network is one of our strongest foundations for advancing financial inclusion. It gives us a unique opportunity to combine our trusted physical presence with the convenience of digital banking. Sri Lanka has a diverse customer base. While many customers are comfortable using mobile applications and digital platforms, others prefer guided support when they adopt new technologies. Our approach recognises this diversity.
Through initiatives such as e-POST and our broader digital transformation agenda, we aim to build a connected banking ecosystem where customers can access services through multiple channels according to their comfort level. Digital transformation, for us, is not about moving customers away from physical locations; it is about expanding their choices. A customer in a rural community should have access to the same quality of banking services as a customer in an urban area. Technology allows us to reduce geographical limitations and provide more efficient services across the country.
However, successful digital inclusion requires more than infrastructure. It requires awareness, education and confidence. That is why NSB Digital Drive initiatives focus strongly on customer engagement, digital literacy and assisted adoption. Our employees and postal banking partners play a critical role in this journey. They act as facilitators who help customers understand and adopt digital services. The combination of our trusted human network and advanced technology creates a powerful model for inclusive banking. Our vision is to ensure that every Sri Lankan, regardless of location or background, has the opportunity to participate in the digital financial economy.
Digital transformation is as much about people as it is about technology. How is NSB empowering its employees to grow alongside the bank’s evolution, and what does that culture of continuous development look like?
Dr. Harsha: An organisation’s greatest asset is its people. Technology can provide tools and platforms, but it is our employees who create meaningful experiences for customers and bring our institution’s vision to life. As NSB transforms into a modern digital bank, employee development has become a strategic priority. Transformation requires not only new systems but also new capabilities, new ways of thinking and a culture that embraces continuous learning.
Our employees have served generations of Sri Lankans, building relationships based on trust and personal connection. As banking evolves, we must empower them with the knowledge and skills they need to succeed in a changing environment. Continuous development, for us, means strengthening digital capabilities, improving customer experience skills, enhancing analytical thinking and encouraging innovation. Importantly, transformation should not create uncertainty among our employees; it should create opportunities. Digital tools can free employees to move beyond routine processes and focus on more meaningful customer engagement and advisory roles.
At NSB, we believe a future-ready organisation is one where employees grow together with the institution. Our responsibility as leadership is to build an environment where learning, adaptability and innovation become part of the organisational culture. We will ultimately measure the success of NSB’s transformation not only by our technology adoption, but by how effectively our people use those capabilities to serve customers better.
Rohana: Digital transformation is fundamentally a people transformation. When we introduced new technologies and digital initiatives, we recognised that employee readiness would be one of the most important success factors. We have focused our approach on building capabilities through structured training, knowledge sharing and practical exposure. Employees across different levels of the organisation need to understand not only how technology works but also why transformation matters and how it improves customer service.
We are building a culture where we encourage innovation, strengthen collaboration and empower employees to contribute ideas. The role of banking professionals is also changing. In the past, banking centred largely around transactions. Today, it increasingly centres around relationships, advice, problem-solving and creating value. Technology frees our employees to spend more time on these higher-value activities. Our investment in people complements our investment in technology. A world-class system requires skilled and motivated people to maximise its potential. At NSB, we build our transformation journey on the belief that employees are not passengers in this journey; they are the drivers of change.
NSB received the WSBI Climate Finance Leadership Award in 2025, having built a green lending portfolio worth $13.7 million in 2024 through several initiatives. As NSB deepens its sustainability commitment, what does the bank’s green finance ambition look like at scale?
Dr. Harsha: Sustainability is no longer an option for responsible institutions; it is a fundamental responsibility. Banks play a critical role in shaping economic development because financial decisions influence how resources are allocated across society. Responsible banking must therefore consider not only financial returns but also environmental and social impact.
NSB’s sustainability journey connects closely with our national responsibility. As a state financial institution, we recognise our role in supporting Sri Lanka’s transition towards a more sustainable economy. Our green finance initiatives demonstrate our commitment to supporting environmentally responsible projects, renewable energy, sustainable agriculture and climate-conscious investments. The recognition we have received from international organisations such as WSBI reflects the progress we have made, but it also reminds us of the responsibility that lies ahead.
Our ambition is to expand sustainability across all areas of banking, from lending practices and operational efficiency to customer awareness and community engagement. Sustainability is ultimately about creating long-term value. A financially strong society must also be environmentally resilient and socially inclusive. NSB will continue strengthening its role as a responsible financial institution that contributes positively to Sri Lanka’s sustainable development journey.
Rohana: Green finance represents a significant growth opportunity while it fulfils our responsibility towards future generations. We aim to integrate sustainability into our core business strategy rather than treat it as a separate initiative. Through green lending programmes and sustainable financing solutions, we support customers and businesses that contribute towards environmentally responsible development.
We also recognise that sustainability extends beyond lending. It includes improving our operational efficiency, reducing our environmental impact, promoting digital solutions and encouraging responsible financial behaviour among our customers. Technology also supports our sustainability efforts by reducing paperbased processes, improving efficiency and enabling smarter resource management. Going forward, we aim to further strengthen our ESG framework and expand sustainable financial solutions that support individuals, businesses and national development priorities. Our vision is to become not only a trusted savings bank but also a responsible institution contributing towards a greener and more sustainable Sri Lanka.
“Technology can improve speed, convenience and accessibility, but trust remains the most valuable asset a financial institution can possess. The 100% Government Guarantee on deposits is a unique strength that differentiates NSB. It gives our customers a clear assurance that their savings are protected and shows that we stand firmly behind our responsibility to safeguard public confidence.”
Today, NSB has a robust digital infrastructure, a vast branch network, and over 10 million active accounts. Looking ahead, how does the bank plan to build on its legacy to drive financial inclusion for the next generation of rural and underserved communities?
Dr. Harsha: The future of NSB rests on a simple principle: remaining relevant while remaining true to our purpose. For nearly two centuries, NSB has served as a trusted financial partner for Sri Lankans. The next chapter of our journey is about extending that trust into the digital era. Financial inclusion will continue to be one of our most important priorities. Millions of Sri Lankans still need greater access to financial knowledge, digital services and opportunities for economic participation. We have built our strategy, therefore, around accessibility, innovation and empowerment. We will continue strengthening our physical presence while we expand digital solutions that let customers access services conveniently and securely.
The next generation of customers will expect banking to be personalised, instant and technology driven. At the same time, they will continue to value institutions that demonstrate trust, responsibility and stability. NSB’s opportunity is to combine both worlds: the confidence of a national institution with the innovation of a modern financial services provider. Our vision is to build a savings bank for the next century, one that supports individuals, families, entrepreneurs and communities while it contributes to national economic progress.
Rohana: Our future strategy centres around becoming a more connected, intelligent and customer-focused bank. Our digital transformation journey, including initiatives such as NSB Digital Drive, reflects our commitment to making banking simpler, faster and more accessible. However, our vision extends beyond digital transactions. We want to create meaningful financial experiences. This includes using technology to provide personalised solutions, expand digital literacy, strengthen customer engagement and create opportunities for underserved communities.
Our extensive branch network, postal banking ecosystem and digital platforms give us a unique advantage. Few institutions can combine this level of national reach with modern technology capability. Going forward, we will continue investing in innovation, sustainability and customer-centric solutions while we preserve the trust that has defined NSB for generations. The NSB of tomorrow will be a bank where tradition and technology work together, where every Sri Lankan can access opportunities, manage their finances confidently and build a better future.