Founded in 2004, LOLC Technologies is a fully owned subsidiary of LOLC Group, a diversified Sri Lankan conglomerate. Today, as a fully-fledged Independent Software Vendor (ISV), LOLC Technologies develops software solutions for external customers alongside its mother company’s 100+ direct and indirect subsidiaries. Its core offerings include fintech solutions covering secure data exchanges, payment and transaction gateways, and automated workflows.
LOLC Technologies’ flagship product, FusionX, was developed to fill a clear gap within the greater LOLC Group. Instead of depending on external vendors for banking solutions, LOLC Technologies saw the potential for a home-grown solution that could keep up with the group’s fast-growing needs. FusionX has expanded from core banking processes into lending, leasing, and loans over the last few years. Today, the solution is utilised in 26 countries and is one of the main drivers behind LOLC Group’s expansive presence in Asia and Africa as a micro-financier.
Despite this success, limited Azure maturity services and a lack of go-to-market (GTM) support from its previous cloud partner kept FusionX from fully realising its international growth potential. LOLC Technologies needed a cloud provider that could offer both cost efficiency and market reach so it could take FusionX to a broader market.
While Microsoft offered the right mix of technical expertise, affordability, security, and global reach, LOLC Technologies required a delivery partner that could offer the strategic support needed to take FusionX to the next level.
This was where Crayon entered the picture. Collaborating closely with Microsoft, Crayon helped secure LOLC Technologies as a Microsoft customer and became the missing piece LOLC Technologies needed to embrace Microsoft solutions. Through the ISV Innovation Hub, Crayon provided the ISV with tailored support across four pillars: Grow, Modernise, Monetise, and Scale.
The first step in the Crayon team’s cloud adoption framework was conducting evaluations to understand LOLC Technologies’ requirements on a granular level. This included an in-depth assessment of existing IT infrastructure and familiarising themselves with its internal developers, security teams, deployment teams, and architects. The Crayon team also took the time to understand the FusionX solution, which allowed them to develop a strategic migration plan and make informed suggestions, customisation options, and referral architectures.
This thorough approach fostered trust and confidence, ultimately positioning Crayon as a strong technology ally—one with the expertise and capacity to meet LOLC Technologies’ evolving needs.
With Crayon’s support, LOLC Technologies was able to facilitate FusionX’s migration to Azure. This was followed by moving the company’s remaining applications and systems to the cloud, including the recently acquired Lipton Tea brand. As of mid-2025, 70% of LOLC Technologies’ cloud migration has been completed.
To control increasing licensing costs that were limiting the app’s growth, Crayon helped LOLC Technologies optimise its IT spend. Crayon provided access to Microsoft funding, allowing LOLC Technologies to extract the best value from its Azure investment.
LOLC Technologies also reaped the advantages of being a part of Crayon’s ISV Innovation Hub. As the sole program aligned with Microsoft’s ISV Success Program, Crayon’s ISV Innovation Hub taps into a range of exclusive benefits, including Azure credits, specialised GTM resources, and access to developer tools. This, combined with Crayon’s hands-on technical support and decades of experience, helped list FusionX on the Azure marketplace swiftly. Through the Sell With programme and Crayon’s ISV network, the app gained wider visibility across multiple markets.
In Sri Lanka, the app was also promoted locally within Crayon’s partner and ISV networks. At Crayon’s 2025 Partner Summit, FusionX took centre stage, with LOLC Technologies highlighting its successful journey with Microsoft and Crayon during the event.
FusionX stands out as a core banking solution because of its unique combination of low-code/no-code capabilities and modular composable architecture – a feature that allows banks to quickly build and adapt workflows without disrupting existing core systems. Under Crayon’s guidance, FusionX’s app performance and user experience were further optimised. Financial institutions deploying FusionX for its customers no longer need to offer separate reports, since users can easily source this information for themselves.
Crayon will continue to support LOLC Technologies on its digital transformation journey. By fostering an environment of continuous innovation and providing strategic guidance, Crayon and Microsoft are empowering LOLC Technologies to further expand FusionX’s global footprint, driving financial inclusion and digital advancement across new markets.
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