NDB launches ‘Ratapuraama LANKAQR’ with Central Bank in Negombo

From left: CBSL Deputy Governor Dharmasri Kumaratunga, NDB Bank Chief Executive Officer Dimantha Seneviratne and Chief Guest, CBSL Governor Ajith Nirvard Cabraal

NDB being at the forefront of the digital banking landscape has come forward to support the LANKAQR nationwide rollout campaign launched by the Central Bank of Sri Lanka in the city of Negombo. Accordingly, NDB was privileged to partner the nationwide rollout of LANKAQR, a key initiative to create awareness and encourage use of digital payments as opposed to using cash. 

The event took place at the Kadol Kale Grounds, Negombo with the participation of Chief Guest CBSL Governor Ajith Nirvard Cabraal, CBSL Deputy Governor Dharmasri Kumaratunga, NDB Bank Director/Group Chief Executive Officer Dimantha Seneviratne, Expert Committee for Digital Banking Blockchain and Crypto Currency Chairman and NDB Director Sujeewa Mudalige and others.

As part of the initiative all Sri Lankans will be encouraged to move towards cash-less and a digitally empowered society using QR based transactions and will also increase financial inclusion in Sri Lanka. Developed by the Central Bank of Sri Lanka, LankaQR is an integrated payment system that was launched at a kickoff event in Matale in 2020, beginning the endeavor to take this to every town in Sri Lanka. 

The bank has always been instrumental in promoting the CBSL LankaQR payment method via the bank’s own QR payment method, NEOS Pay. Customers can make payments to merchants, pay bills and perform a host of other transactions via the NEOS platform. Since NEOS Pay is linked to the LankaClear JustPay platform, customers can simply use either their NDB account or other bank account details to register for NEOS Pay. Upon registering customers will be able to avail the QR payment facility to settle merchant payments as well as bill payments with ease and convenience. 

Customers can add accounts of any other bank linked to the JustPay system onto NEOS Pay. This QR payment method will allow the customer to avoid using cash, and instead, make payments or pay bills via their NEOS app – powered by NDB, from their NDB Bank account or their other bank accounts registered with NEOS. The user does not need to have an account at NDB to use this facility, as NEOS Pay delivers an all-in-one payment app for all bank customers.

NDB Bank has always been at the forefront of the digital revolution of Sri Lanka with the overall digitisation initiatives in banking taken in the recent past. Among the many firsts introduced by NDB Bank is the NEOSBIZ app – a first of its kind business banking mobile app specially targeted at small and medium-sized enterprise (SME) businesses to manage their business transactions. The bank also launched video KYC (vKYC) based account opening process utilising artificial intelligence (AI) technology enabling customers to open NDB accounts from the comfort and safety of home, without having to visit a branch. 

Additionally, the bank also became the first in the industry to tie up with the Credit Information Bureau (CRIB) in order to create a hassle free and convenient service in which the bank’s customers can register and request for their individual credit reports (iReport) and individual credit score reports (CRIB Score) from wherever they are in Sri Lanka through NDB NEOS. 

NDB will continue its endeavours to further digital banking even amidst competition, constantly introducing novel methods to the bank’s clients as well as all Sri Lankans. Accordingly, the bank was awarded the ‘Best Digital Bank 2021’ at the Asiamoney Best Bank Awards for Sri Lanka in addition to being crowned ‘Sri Lanka’s Best Bank 2021’ by the prestigious Global Finance Magazine of USA and ‘The Bank of the Year Sri Lanka’ by The Banker Magazine UK. 

NDB is the fourth largest listed bank in Sri Lanka and the parent company of the NDB Group. The only financial services conglomerate in Sri Lanka, NDB Group is uniquely positioned towards assisting the growth and development of the Sri Lankan financial market to provide its customers seamless access to the product and service offerings of all its group companies.