The Commercial Bank of Ceylon was honoured with five awards at the LankaPay Technnovation Awards 2019, Sri Lanka’s only payment technology innovation awards presented for the third consecutive year.
The Bank won two Gold awards for ‘Best Acquirer on LankaPay Online Payment Platform’ and ‘Payment Application of the Year,’ a Bronze award for ‘Excellence in Interbank Payments’ and two Merit awards for ‘Bank of the Year2 for Financial Inclusivity under category A’ and ‘Bank of the Year for Excellence in Customer Convenience under category A.’
The Gold award for Best Acquirer on the LankaPay Online Payment Platform was based on the highest transaction acquiring volume and aggressiveness in the joining process. This was the second consecutive year that Commercial Bank won this award.
The Gold award for ‘Payment Application of the Year’ was presented in respect of ComBank Online, the Bank’s comprehensive and user-friendly Online Banking platform and was in recognition of the highest number of interbank transactions processed through the application.
The award for Financial Inclusivity was for the highest aggregate growth volume increase compared to the previous year on the common ATM switch, as well asreal time/non-real time interbank transactions and cheque payments.
The award for Excellence in Customer Convenience was based on the highest combined product-wise growth percentage compared to the previous year for electronic fund transfer products.
The Bank said with more and more millennials and other customers focused on convenience, it has embraced all digital and mobile technologies and continues to invest in these channels. As a result, the Bank’s systems were upgraded and new technological aspects were introduced together with innovative digital platforms and services such as Online Banking, Mobile Banking, e-passbook, Cash Deposit machines, Cash Recycle Machines, Self Banking Kiosks and the Flash Digital Bank Account among others.
With the continuous improvements to its digital platform, a high percentage of customers now perform their banking activities such as viewing their account details, investments, payments and settlements, fund transfers and applying for loans via the Bank’s Online and Mobile banking platforms. ComBank Online offers a versatile service to both personal and corporate customers and is one of the most popular online platforms in the country.
The Bank’s latest digital innovation is the Flash digital account with trilingual capability which enables opening of accounts digitally, as well as versatile and flexible payments, investments, savings, budgeting, payment requests, group payments, receiving of actionable alerts, online health insurance and 24X7 banking through mobile phones to suit generations X & Y and the elderly segment that cannot visit the bank physically for banking activities.
Commercial Bank won five awards and three awards respectively, at the LankaPay Technnovation Awards held in 2018 and at the inaugural event in 2017.
The LankaPay Technnovation Awards presentation is organised by Lanka Clear (Pvt) Ltd., the operator of LankaPay national payment network.
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