LB Finance adopts Snowflake to transform into an AI-powered financial institution

LB Finance Chief Information Officer Chethana Kahandugoda with Snowflake and Altria Consulting team

Snowflake, the AI data cloud company, announced that LB Finance PLC, one of Sri Lanka’s A- (lka) Fitch-rated non-bank financial institutions, has adopted Snowflake as the data foundation to accelerate its digital transformation journey. 

By modernising and unifying its data ecosystem on the Snowflake platform, LB Finance has evolved its hybrid business model to offer a seamless experience for modern app and digital-first customers as they transition from physical branches to accessing financial services digitally.

As digital adoption expanded, LB Finance identified opportunities to enhance its on-premises data architecture to better support real-time analytics, AI workloads and the increasing performance demands of its digital channels. The tightly coupled nature of compute and storage limited scalability and delayed access to timely insights, increasing reliance on IT teams for analytics. Scaling compute-intensive AI infrastructure also became increasingly complex and costly, highlighting the need for a modern, cloud-native platform.

In response to these evolving requirements, LB Finance selected Snowflake’s AI Data Cloud platform for its security, governance and scalability, establishing a unified and future-ready data foundation. This approach has enabled the organisation to operate as a real-time, insight-driven financial services provider, supporting AI-powered personalisation and improved digital customer experiences.

Snowflake now serves as LB Finance’s single source of truth, providing enterprise-grade security, governance and scalability across its data ecosystem. Altria Consulting, the implementation partner, helped LB Finance transition to Snowflake to run a broad range of workloads on a single, unified platform and eliminate silos between reporting, analytics and AI. 

“Snowflake has significantly strengthened our data foundation at LB Finance, enabling us to operate with greater speed, scalability, and governance in a fast-evolving financial services environment,” said LB Finance Chief Information Officer Chethana Kahandugoda.

“Snowflake’s unified platform is enabling LB Finance to operationalize AI at scale, unlock predictive insights, accelerate decision-making, boost operational efficiency, and evolve how they engage with customers, while innovating securely to drive business transformation,” said Snowflake Managing Director India Vijayant Rai.