The Commercial Bank of Ceylon has become the first bank in Sri Lanka to enable online payments to the Sri Lanka Standards Institution (SLSI) by linking the institution to ‘ComBank Digital,’ making it possible for customers to pay their fees to SLSI from anywhere and at any time.
The Bank has enabled real-time online payments to the SLSI for both its retail and business customers who can access www.combankdigital.com and its iOS, Android or Huawei mobile applications for this purpose.
The platform is secured with industry-level security standards to provide a swift and safe digital banking experience to customers. As this is a paperless process that does not require customers to visit a bank branch or the SLSI office, it further contributes to the ‘green’ initiatives of the Bank and also enables customers to be more environment-friendly, the Bank said.
To use this online payment option, customers simply have to visit the ‘Billers’ section on the platform, select the desired biller and make the payment. Once the payment has been successfully completed, the customer can download a cyber receipt as payment confirmation.
Commenting on this collaboration with SLSI, Commercial Bank’s Group Chief Marketing Officer Mr Hasrath Munasinghe said: “The SLSI is the latest government institution to be connected to ComBank Digital. The Bank has been exploring every possibility offered by technology and consistently enhancing its digital banking capabilities to facilitate convenience and encourage its customers to manage their day-to-day banking activities in a timely and hassle-free manner from their personal devices.”
ComBank Digital already enables payments to government authorities such as the 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), and the Board of Investment of Sri Lanka (BOI). These payments are routed through the LankaPay Online Payment Platform (LPPOP).
One of the top five financial apps in use in Sri Lanka, ‘ComBank Digital’ was launched in 2020, has since undergone enhancements, and is now enabled for the Bank’s business clientele too. Positioned as the Bank’s single omni-channel digital banking platform, it is powered by Fiserv, the US-based global provider of financial services technology.
Sri Lanka’s first 100% carbon neutral bank, the first Sri Lankan bank to be listed among the Top 1000 Banks of the World and the only Sri Lankan bank to be so listed for 11 years consecutively, Commercial Bank operates a network of 268 branches and 938 automated machines in Sri Lanka. 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. The Bank’s overseas operations encompass Bangladesh, where the Bank operates 19 outlets; Myanmar, where it has a Microfinance company in Nay Pyi Taw; and the Maldives, where the Bank has a fully-fledged Tier I Bank with a majority stake.
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