‘ComBank Digital’ – Sri Lanka’s most-used digital banking platform – has significantly enhanced mass access by going trilingual, promoting greater inclusivity and even higher usage.
Announcing the development, the Commercial Bank of Ceylon said the platform’s multilingual capability is expected to expedite adoption of digital banking in rural areas and more traditional customer segments.
Commercial Bank’s Assistant General Manager – Digital Banking Mr Pradeep Banduwansa also expressed the hope that with its multilingual functionality, ComBank Digital would help extend access to financial services to the un-banked and under-banked, providing them the benefits of digital transformation.
“With 1.2 million users, ComBank Digital is already a significant element of our sustainability roadmap, but there are still demographic as well as geographic gaps in terms of usage, which we are addressing by providing users the option to choose to perform transactions in Sinhala or Tamil,” Mr Banduwansa said. “This will make usage easier for some customer segments and encourage larger numbers to register on the platform.”
He said the launch of the Sinhala and Tamil platforms can also be considered an early gift in anticipation of the upcoming Sinhala and Tamil New Year.
The Bank has also announced that ComBank Digital will offer an additional 1% on the interest rates applicable to 300-Day and One Year Fixed Deposits (Interest at maturity) opened on 14th and 15th April via the platform. Additionally, new users who successfully register on 14th April 2024, will receive a cash reward of Rs 250/- solely for their registration, the Bank said.
An integration of all online and mobile banking channels on a single omni-channel platform, ComBank Digital is offered via a responsive web application and three native mobile applications (iOS, Android and Huawei), enabling access across all devices such as desktop PCs, laptop computers, tabs and smart phones.
Commercial Bank customers enjoy the convenience of self-registration for ComBank Digital, gaining instant access to a banking platform that is secured with industry-level security standards to provide a convenient, swift, and safe digital 24×7 365-day banking experience, wherever they are in the world.
Enhancing user convenience, ComBank Digital features a range of built-in options that allow users to customise their digital banking preferences on their own without the assistance of a bank agent. They can increase the security level of ComBank Digital by enabling biometric login access, device registration for secure login and device management, selection of alerts with One Time Passwords (OTPs) and setting up of alert delivery methods via push notifications.
Designed to offer seamless and personalised banking experiences for Retail, SME and Corporate customers, ComBank Digital offers services such as checking balances of Current Accounts, Savings Accounts, Investments, Loans and Credit Card accounts and transactional activities such as applying for Fixed Deposits, instant payments to any account across the banking network, share trading settlements and more. ComBank Digital also supports bill payments to nearly 100 entities in nine categories such as Telephone, Electricity, Water, Credit Cards, Insurance, Pay TV, Education, Schools and Rates.
For corporate customers, ComBank Digital already enables payments to government authorities such as the Department of Commerce (DOC), Import and Export Control Department (IECD), the Inland Revenue Department (IRD), Sri Lanka Ports Authority (SLPA) for cargo, vessel, and entry permit payments, Sri Lanka Customs, Employees Provident Fund (EPF), Employees Trust Fund (ETF), Board of Investment of Sri Lanka (BOI), and the Sri Lanka Standards Institution (SLSI). These payments are routed through the LankaPay Online Payment Platform (LPPOP).
Commercial Bank has expanded its digital platform to include its overseas operations in Bangladesh and Maldives as well.
The largest private sector bank in Sri Lanka and the first Sri Lankan bank to be listed among the Top 1000 Banks of the World, Commercial Bank is the largest lender to Sri Lanka’s SME sector, and is a leader in digital innovation in the country’s Banking sector. Commercial Bank has the widest international footprint among Sri Lankan Banks, with 20 outlets in Bangladesh, a Microfinance company in Nay Pyi Taw, Myanmar, and a fully-fledged Tier I Bank with a majority stake in the Maldives.
