Pine Labs Limited has announced a significant expansion of its operations into Sri Lanka through a strategic partnership with Pan Asia Banking Corporation (PABC). The fintech company will implement a comprehensive, API-first card management platform for Pan Asia Bank. This collaboration will see Pine Labs deploy its full-stack Credit Card Management System, named Credit+, to support the end-to-end issuance of credit cards. The platform is designed to handle high transaction volumes and ensure high uptime, offering flexible and scalable product configurations. Key functionalities include card issuance, activation, billing, payment processing, reconciliation, and settlement. Amrish Rau, CEO of Pine Labs, highlighted the platform's modern, cloud-native, and API-first technology, emphasizing its ability to provide banks with complete control over configurations, limits, and program logic as their operations scale. Naleen Edirisinghe, Director/CEO of Pan Asia Bank, stated that this partnership is a crucial step in their digital transformation, enhancing their ability to deliver faster, smarter, and more secure card services while building the necessary scalable infrastructure for future growth. The Credit+ platform will integrate seamlessly with the bank's existing core banking system and payment networks, enabling rule-based controls and configurable limits via APIs. This customized architecture will empower Pan Asia Bank to introduce new card products, provide real-time authorization, modify controls, and adapt swiftly to market changes without extensive modifications to its core infrastructure. This marks Pine Labs' second major banking client in Sri Lanka within a few months, positioning the company as a key technology partner for financial institutions in the region seeking agile alternatives to legacy card systems. Pine Labs offers its Credit+ platform in India, Sri Lanka, the Middle East, Africa, and Southeast Asia.
