People’s Bank empowers Royalists with self-service school banking unit

People’s Bank Chairman Sujeewa Rajapakse opening the school banking unit 

People’s Bank Chairman Sujeewa Rajapakse handing over a gift to a student who made the first deposit

Inscribing another milestone in the history of People’s Bank’s digital transformation journey, a new self-service school banking unit with NFC-enabled Cash Deposit Machine (CDM) was inaugurated at Royal College, Colombo on 26 February. 

A student receiving a cash deposit receipt from CDM

The inauguration ceremony was held at the school premises with the participation of People’s Bank Chairman Sujeewa Rajapakse, People’s Bank CEO/General Manager Rasitha Gunawardane, Royal College Principal B.A. Abeyrathne, Senior Deputy Principal M.V.S. Gunathilaka, People’s Bank Corporate and Executive Management, Officials of Royal College Union and School Development Society. 

The main objective of introducing this novel initiative is to allow schoolchildren to have digital experiences and inculcate the habit of savings at very young age. As at today, People’s Bank is the only bank in the country with this digital technology and capacity to deploy self-service school banking units at schools. This School Cash Deposit Machine has the latest technological features including, bio metric scanning (Finger Print scanning), NFC technology (Near Feel Communication) and other options. Also all the students are provided with the NFC technology enabled card that displays their name, photograph and student ID number which can be used to deposit money. This CDM accept notes and coins as deposits. Students can deposit small amount of money in to their SISU Udana Account at their convenient time whenever they save from their pocket money. 

Addressing the gathering, People’s Bank Chairman Sujeewa Rajapakse mentioned, “People’s Bank is very proud to offer this valuable gift to all the Royalists today, which will help to engage with latest digital technology at school age and invited all students to get maximum benefit out of this school banking unit and save as much as possible.