Axonect and Commercial Bank Showcase ODA Deployment for Fintech Modernization

LONDON, UK, July 16th, 2026

Axonect and Commercial Bank showcased a deployment of TM Forum’s Open Digital Architecture, or ODA, for financial services at DTW Ignite, demonstrating how an architecture originally developed for the telecommunications sector can be applied to modern banking transformation.

Presented at TM Forum’s DTW Ignite in Copenhagen, the showcase featured Anthony Rodrigo, CEO of Axonect, and Sumudu Gunawardhana, CIO of Commercial Bank. The presentation explained how ODA can support a composable banking model by helping financial institutions modernize complex legacy environments while maintaining governance, resilience, security, and regulatory control.

The deployment at Commercial Bank, facilitated by Axonect, positions ODA as a practical framework for banks seeking to simplify integration, support digital operations and create more flexible technology environments.

TM Forum noted that, having already earned the trust of the telecommunications industry, ODA is now demonstrating its value across sectors where connectivity drives growth. The organisation highlighted Axonect and Commercial Bank as examples of how a common, open architecture can bridge the telecommunications and financial services industries, enabling new opportunities for innovation and collaboration. According to TM Forum, this reinforces the role of open architectures in helping organisations scale AI, simplify integration and support emerging business models.

Commercial Bank has used Axonect’s ODA-aligned platforms to support modernization across its technology ecosystem. According to the companies, the implementation extends beyond traditional middleware by providing a structured enterprise operating model for financial modernization.

Commercial Bank stated that Axonect’s ODA-aligned platforms have helped strengthen and modernise its core technology ecosystem, transforming traditional telecommunications middleware into an enterprise-grade turnkey operating system for financial modernisation. According to the bank, the platform provides the agility, scalability and innovation capabilities associated with public cloud environments while maintaining the data sovereignty, security and operational control required by a leading financial institution.

According to the companies, the ODA deployment at Commercial Bank has supported measurable operational improvements, including 30–43% core efficiency gains, a reduction in OpEx footprint from 70% to 33%, more than 40 live microservices across BIAN-compliant domains, more than 200 active APIs, 99.99% availability, secure cryptographic boundaries, policy-driven compliance and live operations across three countries.

The companies also said the implementation supported Commercial Bank’s Google Pay deployment and PayPal cross-border remittance clearing capabilities. These results were presented as part of the broader DTW Ignite discussion on how open digital architectures can support banking modernization.

Axonect stated that ODA was originally developed to help the telecommunications industry improve the organisation, agility and scalability of complex digital ecosystems. The company said its collaboration with Commercial Bank demonstrates how the same architectural framework can support the modernisation of financial institutions. According to Axonect, as agentic AI, APIs, sovereign data and cloud operating models continue to converge, ODA has the potential to serve as a common blueprint for secure, intelligent and future-ready enterprise transformation.

The deployment represents an important milestone for both Axonect and Commercial Bank, while also demonstrating how architecture-led modernization can be applied beyond the telecommunications industry.

For Commercial Bank, the next phase will focus on advancing from composable banking to secure agentic banking. Axonect Fabric is expected to support a more autonomous, AI-native software delivery lifecycle, from business requirement discovery through API development, quality assurance, CI/CD and production.

Built around agentic security, sovereign governance and auditable AI principles, the next phase is intended to support broader open finance ecosystem development, governed AI use cases in banking and scalable adoption across new markets and sectors.

With the ODA Fintech Playbook now live, Axonect said it is helping define how ODA can move from telecom architecture into fintech execution and broader industry impact.

More information about TM Forum is available at https://www.tmforum.org.

More information about Commercial Bank of Ceylon PLC is available at https://www.combank.lk.

Technology and Financial Services Information Notice

This release is for informational purposes only and does not provide financial, investment, banking, regulatory, legal, cybersecurity, technology implementation or compliance advice. References to Open Digital Architecture, ODA, Axonect Fabric, APIs, AI, agentic AI, cloud operating models, microservices, sovereign data governance, security, availability, efficiency gains, deployment timelines, operational performance and modernization outcomes are based on company-provided information and may vary by institution, system environment, regulatory requirements, implementation scope, infrastructure, vendor configuration and operational conditions.

No statement in this release should be interpreted as a guarantee of future performance, cost savings, security outcomes, regulatory approval, deployment speed, technology adoption, system availability, business results or financial outcomes. Organizations should conduct independent technical, legal, compliance, cybersecurity and operational reviews before making technology or banking modernization decisions.

About Axonect

Axonect provides ODA-aligned digital platforms and enterprise technology solutions designed to support modernization, integration, API-driven operations and digital transformation across complex enterprise environments. The company works with organizations seeking to modernize legacy systems, support scalable digital operations and apply open architecture principles across sectors including telecommunications and financial services.

About TM Forum

TM Forum is an alliance of more than 800 organizations across the global connectivity ecosystem, including communication service providers, hyperscalers, network equipment providers, vendors, consultancies and system integrators. The organization provides a collaborative platform for members to innovate, develop open standards and support digital transformation across connectivity and related industries.

Users can visit https://www.tmforum.org.

About Commercial Bank of Ceylon PLC

Commercial Bank of Ceylon PLC operates more than 270 strategically located branches and an extensive network of automated machines. The bank has an international footprint that includes 21 branches in Bangladesh, a Tier I bank presence in the Maldives, a microfinance company in Myanmar and a representative office in the Dubai International Financial Centre. Its subsidiaries, CBC Finance PLC and Commercial Insurance Brokers (Pvt) Limited, also provide financial services through their branch networks.

Users can visit https://www.combank.lk.

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