SLT PEO TV and Union Bank launch TV banking

By Shanuka Tissera

The new direction of the banking sector in Sri Lanka has been announced. Union Bank, one of Sri Lanka’s fastest growing banks, which was also the pioneer of internet banking in Sri Lanka, partnered with SLT PEO TV at Galle Face Hotel yesterday.

SLT PEO TV paved a new path in the pay TV industry by introducing IPTV (Internet Protocol Television) technology to Sri Lanka and is well positioned in the market thanks to its ever-increasing range of possibilities for its customers.

Union Bank Colombo Director/CEO Anil Amarasuriya announced: “We are proud to be the pioneering partner in this groundbreaking initiative. This service offers customers unmatched convenience and we anticipate that it will prove to be extremely popular. PEO TV shares Union Bank’s vision of a nation in which people have many options and conveniences available to them thus making their lives easier. This initiative brings Sri Lanka closer to the global standard of services offered in the banking sector.”

Services included within this TV banking service are balance inquiry, utility bill payments (including SLT, CEB, LECO, Nation Water Board, mobile and insurance), internal fund transfers between a customer’s account and third parties of Union Bank or any other bank, view their assets and liabilities, fixed deposit detail and password changes.

“There is a strong and increasing demand for PEO TV thanks to its megaline service,” SLT CEO Greg Young mentioned. He went on to share the plan that SLT has initiated. Through I-Sri Lanka, they wish to have 20mb broadband capability available for 90% of their customers by 2013.

“Sri Lanka Telecom, the flagship telecommunication provider has turned a new leaf in the Pay Television industry with PEO TV and its unique features.

Today with this pioneering initiative, banking services will be revolutionised adding even more value to banks and their customers.”

This novel banking portal facilitates online banking services using the TV as an interface, any of PEO TV’s 55,000 plus customers, who also bank with Union Bank can now benefit from this extremely convenient service. In an age where efficiency has become the ‘Holy Grail’ of business, this service is most definitely set to ripple out and catch the eye of competitors.

This is all undertaken through a secure link that has been thoroughly tested and verified by independent sources. Its philosophy is the idea to offer convenience in the first of its kind by adding another layer of value.

Customers now have 24/7, all year round account accessibility, facilitating day to day banking transactions from the comfort of their own home. No more queuing at the bank, instead they can worry about what to watch or the dinner menu before paying a utility bill. The birth of this powerful partnership will change the shape and mentality of the nation of Sri Lanka.

SLT PEO TV and Rainbow Pages CEO Malraj Balapitiya said: “We will not restrict ourselves to provide channels and infotainment content, but we will continue to be the first to offer the best to your home TV screen. Today we offer you with TV banking and more innovative options in the future. We want to make this a fully personalised and interactive experience.”

Union Bank Assistant VP – IT Rajiv Munasinghe stated that Union Bank was synonymous for launching technology driven products to the banking industry in Sri Lanka.

“UBS pioneered internet banking and several award winning products including electronic cheques. The collaboration of two strong teams, PEO TV and UBS has enabled us to develop yet another innovative concept, further strengthening our promise on superior service delivery to our customers.”