Colombo, May 17th, 2021: Sampath Bank PLC entered into a Memorandum of Understanding (MOU) with the Department for Registration of Persons (DRP) to facilitate customer identification and verification through the DRP interface. This will enable Sampath Bank to onboard customers digitally, without them having to physically visit the Bank, by verifying and confirming their identity via the DRP database. Digitalizing the mandatory KYC (Know Your Customer) process, this partnership is testament to Sampath Bank’s commitment to leveraging technology and rolling out innovative solutions that deliver greater value to the nation.
Ajith Salgado, Group Chief Information Officer, Sampath Bank PLC, and P. Viyani Gunathilake, Commissioner General, Department for Registration of Persons signed the MoU at the Department for Registration of Persons Head Office in the presence of representatives from the Department for Registration of Persons and Sampath Bank, recently.
“Right from our inception, we at Sampath Bank have always strived to harness the power of technology and develop market relevant innovative solutions that transform the country’s financial services landscape and offer greater value to our stakeholders. In line with this, we are delighted to partner with the Department for Registration of Persons on digitalizing the KYC process – a mandatory process which plays a pivotal role in protecting customers as well as the banking system. We invite all Sri Lankans to avail themselves of the added convenience and security offered by this facility and look forward to welcoming them onboard Sampath Bank, digitally,” said Ajith Salgado, Group Chief Information Officer, Sampath Bank PLC.
Customers can currently use the digital onboarding service and open a new account with Sampath Bank even during extended hours, at any Sampath Virtual Teller Machine (VTM) located at selected branches. The Bank is actively working on integrating the digital onboarding process into its other digital platforms by enabling the digital KYC process for all accounts opening operations as a step-by-step approach.
Customers visiting a Sampath Bank VTM will be connected to a Customer Service Executive from the Bank over a real-time live video conference to help them open an account. The Executive will request them to upload their NIC and other supporting documents through the VTM and seek their consent to verify their identity using the DRP database. Upon successful verification, the account will be opened immediately. Customers simply need to digitally sign the mandate displayed on the screen and make the initial deposit to complete the account opening process. They can also obtain activated debit cards and the SMS Alertz facility instantly.
Sampath Bank is a 100% local bank that has deeply rooted itself in the lives of the people of Sri Lanka. Established in 1987, the bank has become a state-of-the-art financial institution that continues to be a market leader today due to its constant innovation and customer focused approach to business. VTMs with digital KYC integration is yet another ‘first in the banking industry,’ introduced by Sampath Bank among several other innovations launched since its inception. The Bank continues to steadily transform itself into a technology-driven financial services provider while upholding our traditions and values.