A Memorandum of Understanding was signed between the Bank of Ceylon and the University of Kelaniya on the 9^th of March 2023. The ceremony was held in the senate room of the University of Kelaniya.

Mr. K. A. Ajith Karunarathna, Deputy General Manager (Product and Banking Development), and Mr. H. K. Rajapakse, Head of IT (Actg.), Bank of Ceylon signed the MoU representing the bank while Senior Prof. Nilanthi de Silva, Vice-Chancellor of the University of Kelaniya and the registrar Mr. K. K. K. Dharmathilaka signed on behalf of the university.

The main objective of this MoU is to continue the joint efforts of the Bank of Ceylon & the University of Kelaniya for building a long-term and strategic partnership between the university and the bank.

The signed MoU will pave way for developing New and Innovative Banking Technologies, Innovative solutions based on requests of the Bank with mutual prior consent, or Solutions proposed by the University deemed fit for the Bank and agreed upon by BOC. Moreover, jointly implementing any program or activity in the areas of common interest, assigning university undergraduates as internship trainees at BOC and consulting each other and exchanging views on matters and activities of mutual interest in their respective areas of operations, especially on new banking technologies or any other innovative concepts, applications, and models were also fall under the scope of this signed MoU.

The collaborative partnership was thus initiated to promote the advancement mutually and more effectively of one of the applications of the nationally and internationally patent filed, and patent granted technology which is based on a system and method developed for the addressable data communication with or without internet.

The momentous signing ceremony was dignified with the presence of the representatives from the Bank of Ceylon, Mr. M. T. S. A. Perera, Assistant General Manager (Product Development and Business Process Re-Engineering Project), Mr. P. K. T. P. Ariyarathna, Chief Manager (Product Development/Innovations) and the Senior Professor S. R. D. Kalingamudali, Dean, Faculty of Science and the Lead supervisor of the Research, Innovation and commercialization grant, AHEAD Project, the Head of the Department, Department of Physics & Electronics, Professor. L. B. D. R. P. Wijesundera, the Principal Investigator and the coordinator of the Research, innovation and commercialization grant, AHEAD Project, and the coordinator of the Electronics Design and Innovation Center, Professor. Aruna Ranaweera, the deputy coordinator of the Research, innovation and commercialization grant, AHEAD Project, Professor. Charith Jayathilaka, Supervisors of the research team, Dr. Jehan Seneviratna, Dr. Kasun Piyumal, the Director, of the University Business Linkage Cell, Dr. Pradeep Samarasekere, the research team members, Mr. Tharindu Niroshan Gurusinghe, Mr. Pubudu Sanjuka Jayasekara, Ms. Hiruni Eranga Wijesooriya, Mr. Ishara Udayantha Rajapaksha and the Manager, University Business Linkage Cell, Ms. Chamodhi Prabodhya.