BOC-Peradeniya University to advance innovation and knowledge exchange

Bank of Ceylon (BOC) signed a landmark memorandum of understanding (MoU) with the University of Peradeniya, marking a significant step in bridging the gap between academia and the banking sector.

The agreement, signed on June 5, 2025, on the university premises, aims to foster innovation, technology transfer and collaborative knowledge sharing between the two institutions. This forward-thinking partnership is anchored on four key pillars: co-development of innovative banking technologies, joint academic and research programmes, structured internship opportunities for undergraduates and continuous consultation and knowledge exchange initiatives.

Representing the University of Peradeniya at the MoU signing were Vice Chancellor Prof. Terence Madhujith, Science Faculty Dean Prof. R.G.S.C. Rajapakse, Management Faculty Dean Prof. R.H. Kuruppuge, Engineering Faculty Dean Prof. B.G.L.T. Samaranayake, Peradeniya University Technology Transfer Office Director Prof. Roshan D. Yapa, Operations Management Department Head Dr. S. Maheshwaran and Acting Registrar K.A.B. Damunupola.

The BOC delegation was led by Deputy General Manager Product and Banking Development Y.A. Jayathilaka accompanied by Assistant General Manager Central Province D. Ekanayaka, Chief Manager Product Development and Innovations Thushani Ariyarathna and Manager Innovation Lab Thilanka Pathirana along with other officials from the bank’s Central province office.

Under the newly signed MoU, BOC and the University of Peradeniya will collaborate on developing next-generation banking solutions by leveraging the university’s advanced research capabilities and the bank’s industry expertise. The partnership will enable joint development projects, either proposed by the university or initiated at the bank’s request, to strengthen BOC’s digital infrastructure and service offerings. Additional initiatives under the agreement include technology transfer, joint consultancy, research and development, commercialisation efforts and co-organised conferences and workshops.

Furthermore, the MoU will create valuable hands - on learning opportunities for undergraduates at the University of Peradeniya through internships at BOC, in accordance with the bank’s internship recruitment framework. This collaboration exemplifies BOC’s commitment to nurturing innovation and talent while empowering the next generation of professionals. It also reflects the University of Peradeniya’s role as a catalyst for national development through academic excellence and industry partnerships.