About
Outdated systems, static features, and slow adoption were constraining growth in an increasingly competitive fintech market. Arimac FinSpace stepped in as a strategic partner to consult, design, and deliver ‘People’s Pay’ a fully integrated digital wallet and mobile banking solution. Purpose-built for scale and real-time engagement, the app enabled seamless money movement, frictionless onboarding, and a seamless mobile-first experience for 1.2M+ users running 200K+ daily transactions.
Challenges
Existing digital channels were unable to keep pace with the fast-changing fintech landscape. Customers expected seamless, mobile-first banking experiences, but legacy systems and fragmented platforms made it difficult to deliver. The result was slow adoption, limited engagement, and missed opportunities to scale.
Key challenges included:
- Legacy infrastructure that restricted agility and innovation.
- Manual onboarding processes that slowed down customer acquisition.
- Fragmented services that created disjointed user experiences.
- Limited scalability for handling real-time, high-volume transactions.
Solution
A full-fledged mobile banking and wallet solution, architected to scale and built for real-time financial engagement. The app’s foundation was API-first and cloud-ready, ensuring agility and resilience.
Key solutions included:
- Instant money transfers with capacity to handle 1,000+ TPS (transactions per second).
- Automated eKYC onboarding, reducing verification from days to minutes.
- An optimized multilingual UI/UX, designed for seamless adoption.
- Payment and merchant integrations, enabling everyday financial journeys.
- Instant QR-based payments for cashless convenience.
- In-app digital receipts & notifications to build trust and transparency.
- Usage analytics & segmentation tools, giving the bank actionable intelligence.
- AI-powered fraud detection & predictive insights, enabling safer, smarter, and hyper-personalized banking experiences.
Impact
With Sri Lanka’s No.1 Fintech applications, People’s Pay created a turning point in the digital banking journey of People’s Bank. By combining technology, scalability, and customer-centric design, Arimac FinSpace created the bridge to close the gap between legacy infrastructure and modern fintech standards. The result? A benchmark for mobile-first financial services, setting new standards in customer experience, convenience, and reliability for banking on-the-go.
Active users
1.2M+
Transactions processed daily
200K+
Customers onboarded monthly
1,000+
Transactions now made digital
90%+
App rating on the Apple App store
4.6
App rating on the Google Play store
4.7
They have successfully developed the wallet app solution for People's Bank and is currently engaged in various projects including developing of the online account opening solution for People's Bank. It is observed that the said company employs a dynamic architecture and multi-functional capabilities and has succeeded in delivering a comprehensive set of services throughout the project to ensure the fruitful and effective delivery of the projects.
Mangala Kariyawasam
Chief Digital Officer
People’s Bank
