Pine Labs deploys full-stack card platform at Pan Asia Bank

By Vriti Gothi

Pine Labs has partnered with Pan Asia Banking Corporation (PABC) to implement an end-to-end card issuing and processing platform, marking a further expansion of the FinTech’s presence in Sri Lanka.

Under the agreement, Pine Labs will deploy its full-stack Credit+ card management system to support Pan Asia Bank’s credit card operations. The platform will manage the entire card lifecycle, including issuance, activation, billing, payment processing, reconciliation and settlement. It is designed to support high transaction concurrency and uptime, while enabling flexible product configurations as volumes scale.

Pine Labs’ Credit+ platform is built on a cloud-native, API-first architecture and will integrate with the bank’s core banking system and payment networks. The system enables rule-based controls and configurable limits via APIs, allowing the bank to introduce new card products, modify controls in real time, and respond to regulatory or market changes without significant alterations to its core infrastructure.

B Amrish Rau, CEO of Pine Labs, said, “The engagement centres on modernising the bank’s credit card management capabilities. Our engagement with Pan Asia Bank is around the implementation of a modern credit card management platform using our cloud-native and API-first card management technology. Our platform will help the bank handle the entire card lifecycle, giving them complete control over configurations, limits, and program logic as volumes scale,” he said.

Naleen Edirisinghe, Director and Chief Executive Officer of Pan Asia Bank, described, “This partnership with Pine Labs marks an important milestone in our digital transformation journey as it further strengthens our ability to deliver faster, smarter and more secure card services to our customers, while building the scalable infrastructure required to support our long-term growth and innovation agenda,” he said.

The deployment reflects a broader regional trend of banks transitioning from legacy card management systems to modular, API-driven platforms to improve speed-to-market and operational agility. For mid-sized and regional banks, modern card-issuing infrastructure is increasingly viewed as critical to competing on product innovation, real-time processing capabilities, and regulatory adaptability.

This marks Pine Labs’ second major banking client win in Sri Lanka within a few months, signalling growing demand among local financial institutions for outsourced, technology-led card issuing and processing solutions.