HatchX, Sri Lanka’s first fintech startup accelerator programme, recently concluded its demo day with its first cohort of 7 promising local fintech startups graduating from the programme and getting connected with several industry stakeholders. The goal of HatchX is to help local fintech startups find success by offering them the necessary support to grow and expand their businesses beyond Sri Lanka. The seven startups accepted were DirectPay, Smart Insure, Fipbox.com, HeliosP2P, iLoan, Algoredge, and OGO Pay.
An initiative by Hatch in partnership with the Lankan Angel Network and funded by the Ford Foundation, HatchX was the first virtual startup accelerator programme in South Asia and was launched in April 2020, during the lockdown period.
The startups were selected based on their business maturity, positive traction and each of their abilities to be a viable business both commercially and as an investment potential. HatchX offered an intensive 4-month curriculum geared towards three primary components of business support, education, and investor-readiness through a programme structure,
Sri Lanka Telecom recently signed a partnership with LOLC Finance PLC to enable SLT bill payments through the mobile app, iPay. This venture will make the process of bill payments more convenient to all SLT customers.
The MoU was signed by Mr. Kiththi Perera, CEO of SLT and Mr. Conrad Dias – Director/CEO of LOLC Finance PLC.
iPay, a trilingual mobile app caters to the demands of digitalization and mobility in the modern day. It further reduces inconveniences resulting in cash and card transactions, and allows users to make financial transactions any time, from any location. A majority of the leading local banks are partnered with iPay, adding to the ease of the process.
As such, SLT customers can pay their bills to their Sri Lanka Telecom account at the click of a button and enjoy the uninterrupted service. The system provides bill notifications where customers can view the due amount and due date, and receive smart payment reminders from the app. The real time transaction ensures that default and late payments are reduced, giving SLT an opportunity to curtail temporary disconnections and provide enhanced services to its clientele.
Speaking about the partnership, Mr. Conrad Dias – Director/CEO of LOLC Finance PLC said, “We are pleased to tie up with SLT, the National telecommunication service provider that has set benchmarks in the industry. This tie up aims to encourage SLT customers to convert to digital payments through iPay whilst providing them an option that is safe, seamless, quick, and convenient.