The Commercial Bank of Ceylon PLC has been recognised as the ‘Best Digital Bank’ in Sri Lanka and has been presented the award for the ‘Best Mobile Banking Application’ by the prestigious London-based ‘World Finance’ magazine celebrating achievement, innovation and brilliance at its annual awards for 2017.
These accolades recognise the giant strides the Bank has made in developing and popularising digital banking among a significantly large customer base.
They are based on an evaluation of the Bank’s strategy to mould the institution to be a next generation digital bank, the percentage of the Bank’s digital banking customers, the split between its online banking and mobile banking base, its digital products and services, its plans for future digitisation, its marketing strategy to convert customers to mobile banking and the Bank’s key focus areas for the year ahead.
Commenting on this recognition, Commercial Bank Managing Director/CEO Jegan Durairatnam said: “Technology is evolving at a rapid pace, and as a Bank that is driven by a commitment to enhancing access and convenience for customers, we are required to be constantly vigilant for opportunities to adopt new technology that can meaningfully add value. These awards affirm the success of these efforts.”
Notably, Commercial Bank’s online banking customer base for both the retail and corporate segments grew by 34% in 2016 over 2015, making the Bank’s online platform the most subscribed online banking facility in the country. The value of online financial transactions grew by 10% and the volume of financial transactions grew by 28% in 2016.