ComBank Digital integrates with CSE’s Central Depository System for IPO settlements

Thursday, 6 February 2025 00:41 - - {{hitsCtrl.values.hits}}

The Commercial Bank of Ceylon has announced that ComBank Digital, the bank’s digital banking platform, is now linked with the Central Depository System (CDS) of the Colombo Stock Exchange (CSE), enabling the bank’s account holders to make IPO settlements directly from their accounts.

Made possible by the integration of the CDS with the LankaPay Government Payment Platform (LPOPP), this feature now facilitates participation in Initial Public Offerings for Commercial Bank customers by enabling them to pay for their initial shares via the bank’s online banking channels.

“The option of buying shares offered via IPOs is an important addition to ComBank Digital, and will be welcomed by many of our customers looking to diversify their investments,” Commercial Bank Assistant General Manager – Digital Banking Pradeep Banduwansa said. “It further enhances the versatility of the platform and supports the popularisation of share ownership among the masses, which is an important national cause.”

Commenting on the latest feature of ComBank Digital, LankaPay Deputy CEO Dinuka Perera said: “It is with great delight that we join forces with Commercial Bank to facilitate online payments to the CSE via the LankaPay Government Payment Platform, marking another milestone in our journey toward a less-cash society. With ComBank Digital as our partner, the integration of the CDS will add immense value to ComBank customers and CSE operations, enhancing the efficient functioning of the economy.”

Driven by Commercial Bank’s ‘Digital by Default’ business model, ComBank Digital currently processes more than 5 million transactions a month, with a digital penetration of 45% and 48 million customer interactions, and processes transactions averaging Rs 400 billion in value per month. The award-winning platform continues to lead digital transformation in Sri Lanka’s banking sector as the most widely used digital channel that serves retail, SME and corporate clients.

Discover Kapruka, the leading online shopping platform in Sri Lanka, where you can conveniently send Gifts and Flowers to your loved ones for any event including Valentine ’s Day. Explore a wide range of popular Shopping Categories on Kapruka, including Toys, Groceries, Electronics, Birthday Cakes, Fruits, Chocolates, Flower Bouquets, Clothing, Watches, Lingerie, Gift Sets and Jewellery. Also if you’re interested in selling with Kapruka, Partner Central by Kapruka is the best solution to start with. Moreover, through Kapruka Global Shop, you can also enjoy the convenience of purchasing products from renowned platforms like Amazon and eBay and have them delivered to Sri Lanka.