First Capital revolutionises T-Bill and Bond auctions with bidding through WhatsApp integration

First Capital Treasuries PLC, a pioneering force in the investment sector in Sri Lanka, has revolutionised the way customers bid at Treasury Bill (T-Bill) and Treasury Bond (T-Bond) auctions by introducing a seamless solution via the widely popular WhatsApp platform. 

In collaboration with Yenasys, First Capital has successfully integrated this innovative system, providing its clients with an easy, secure, and highly efficient method to participate in the auctions.

Traditionally, customers send their bids via email, which are then manually entered into a “bid sheet”. With WhatsApp integration, bids are automatically added to the bid sheet, ensuring greater accuracy and efficiency by eliminating manual data entry. The primary benefit of this service is that customers can place bids through their preferred messaging platform, following a simple, structured process provided by the WhatsApp bot. Additionally, WhatsApp’s widespread familiarity makes it a convenient channel for reaching a broader audience, offering easier access to government securities.

This shift not only simplifies the auction process for customers but also introduces significant efficiency gains. Early estimates suggest that the new system can reduce lead times by up to 50%, while cutting down on human involvement in the process by the same margin. By automating the data capture through WhatsApp, the company also ensures that the auction instructions are submitted with greater accuracy. This system eliminates the potential for manual errors, allowing for near-perfect precision in the data input, which leads to higher quality transactions. Customers can trust that their instructions are received and processed correctly, enhancing the overall reliability of the process.

WhatsApp’s robust security features were a key consideration in the integration. As one of the most widely used and trusted messaging platforms, WhatsApp offers end-to-end encryptions for all communications, providing a secure environment for conversations. This encryption guarantees that all auction instructions, whether submitted by a client or processed by First Capital, are safeguarded from external threats. This security ensures that clients can confidently participate in the auction process, knowing that their information is being transmitted through one of the most secure platforms available.

The parent company, First Capital Holdings is the undisputed leader in capital markets, renowned for its unmatched commitment to excellence, innovation, and expertise in financial investments. With over four decades of industry dominance, the company empowers clients to navigate market complexities, transforming opportunities into sustainable growth. 

First Capital Holdings PLC Chief Technology and Digital Officer Mithila Abeysekera said: “This integration exemplifies our dedication to embracing innovation and enhancing the client experience. With the adoption of WhatsApp, we have made it easier and faster for our customers to engage with the T-Bill and bond auction process. The ability to participate directly from their phones, while ensuring the utmost security and accuracy, sets a new standard in how financial transactions should be conducted. We are committed to continuously providing our clients with efficient, innovative, and user-friendly solutions.”

This new initiative is a part of First Capital’s broader commitment to digital transformation and the constant pursuit of operational excellence. The integration of WhatsApp into the auction process marks a significant milestone in the company’s efforts to simplify financial services and improve accessibility. This innovation will broaden access to a wider audience, ultimately driving greater penetration of capital markets and financial services for its clients. By making use of a platform already familiar to millions, First Capital is positioning itself as a leader in Sri Lanka’s financial services industry, offering customers unmatched convenience and security.

First Capital’s customers will now be able to participate in Treasury Bill and Bond auctions with unprecedented ease, reducing both time and complexity, while enjoying the highest level of security. This innovative approach not only helps improve the efficiency of the financial markets but also underscores First Capital’s commitment to making financial services more accessible and effective for its clients.