LONDON, UK
Axonect and Commercial Bank showcased a global industry-first deployment of TM Forum’s Open Digital Architecture (ODA) in Fintech at DTW Ignite, demonstrating how a telco-grade architecture can be applied successfully to modern banking transformation.
Presented at TM Forum’s DTW Ignite in Copenhagen, Anthony Rodrigo, CEO of Axonect and Sumudu Gunawardhana, CIO of Commercial Bank demonstrated how ODA, originally deployed within the telecom industry, can be applied to financial services as a foundation for modern composable banking. The successful deployment at Commercial Bank facilitated by Axonect, positions ODA as a practical architecture for banks seeking to modernize complex legacy environments while maintaining governance, resilience, and regulatory control.
“Already trusted by the telecom industry, ODA is now proving its relevance wherever connectivity is a driver of growth. Axonect and Commercial Bank are demonstrating how a common, open architecture can bridge telecom and financial services, creating new opportunities for innovation and collaboration,” said Willie Stegmann, EVP, Composable IT & Ecosystems, TM Forum. “It reinforces the role of open architectures in helping organizations scale AI, simplify integration, and support new business models.”
“Axonect’s ODA-aligned platforms have enabled Commercial Bank to strengthen and modernize its core technology ecosystem, evolving beyond traditional telco middleware into an enterprise-grade turnkey operating system for financial modernization. This gives banks the agility, scalability, and innovation speed of a public cloud environment, while maintaining the sovereign data governance, security, and operational control required by a leading financial institution,” said Sumudu Gunawardhana, CIO of Commercial Bank, speaking at DTW Ignite.
This ODA deployment at Commercial Bank, Sri Lanka’s largest private bank, has delivered real, measurable value, including 30–43% core efficiency gains, a reduction in OpEx footprint from 70% to 33%, the fastest Google Pay deployment globally, instant PayPal cross-border remittance clearing, 40+ live microservices across BIAN-compliant domains, 200+ active APIs, 99.99% availability, secure cryptographic boundaries, policy-driven compliance, and live operations across three countries.
“ODA was created to help the telco industry bring order, agility, and scale to complex digital ecosystems. What we have proven with Commercial Bank is that the same architectural discipline can now help reimagine how banks modernize,” said Anthony Rodrigo, CEO of Axonect. “As agentic AI, APIs, sovereign data, and cloud operating models converge, ODA has the potential to become a common blueprint for secure, intelligent, and future-ready enterprise transformation. This global industry-first is more than a milestone for Commercial Bank and Axonect; it is a signal that enterprises across industries can modernize with precision, confidence, and impact.”
For Commercial Bank, the next phase of the journey is about advancing from composable banking to secure agentic banking — with Axonect Fabric enabling a more autonomous, AI-native software delivery lifecycle from business requirement discovery through API development, QA, CI/CD, and production. Built with agentic security, sovereign governance, and auditable AI at its core, this evolution also opens the path for broader open finance ecosystem expansion, governed AI across banking use cases, and scalable adoption across new markets and sectors.
With the ODA Fintech Playbook now live, Axonect is helping define how ODA can move from telecom architecture into fintech execution and industry-wide impact.
About TM Forum
TM Forum is an alliance of over 800 organizations spanning the global connectivity ecosystem, including the world’s top ten Communication Service Providers (CSPs), top three hyperscalers and Network Equipment Providers (NEPs), vendors, consultancies and system integrators, large and small.
We provide a place for our Members to collaborate, innovate, and deliver lasting change. Together, we are building a sustainable future for the industry in connectivity and beyond.
To find out more, visit: www.tmforum.org
About Commercial Bank of Ceylon PLC
Commercial Bank operates more than 270 strategically-located branches and an extensive network of automated machines island-wide, and has the widest international footprint among Sri Lankan banks, with 21 branches in Bangladesh, a fully-fledged Tier I Bank with a majority stake in the Maldives, a microfinance company in Myanmar, and a representative office in the Dubai
International Financial Centre (DIFC). The Bank’s fully-owned subsidiaries, CBC Finance PLC and Commercial Insurance Brokers (Pvt) Limited, also deliver a range of financial services via their own branch networks.
To find out more, visit: www.combank.lk
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Last modified: July 14, 2026
