ComBank records highest growth in ‘Inter-Bank Electronic’ payments

Thursday, 21 June 2012 01:26 - - {{hitsCtrl.values.hits}}

Commercial Bank has been recognised as the ‘Bank with the Highest Growth’ in the ‘High Volume Bank Category’ among banks using the Sri Lanka Inter Bank Payment System (SLIPS) in 2011-12.

The award, presented by LankaClear (Pvt) Ltd., acknowledges Commercial Bank as the most active in Inter-Bank Electronic Payments during the last financial year with the top award among the big banks that conducted over a million transactions.

“This award is attributable to the high volume of transactions generated by our ‘Paymaster’ and the ‘e-Exchange’ Electronic Money Transfer solutions,” said Commercial Bank’s Assistant General Manager Operations Palitha Perera. “The impeccable security features, unbeatable convenience and speed these products offer saw their use reaching record levels in 2011-12.”

Commercial Bank’s Paymaster is the total payment solution of the bank which enables organisations to make virtually any type of payment through the Bank’s online platform to any bank in the country with instant credits to accounts within the Commercial Bank.

The Bank’s ‘e-Exchange’ service is a sophisticated yet low cost real time on-line money transfer facility which is available to remitters via a network of agents in over 50 countries.

Remittances are possible to accounts at any bank in Sri Lanka, with instant credit if the receiving accounts are maintained at Commercial Bank. Remittances in cash can also be received through this system conveniently. Recipients of such remittances can collect proceeds from any of the Bank’s 218 computer-linked service points, a significant number of which are open even on bank holidays, and access their funds through its network of 522 ATMs, which is the largest electronic cash-dispensing system owned by a bank in Sri Lanka.

The awards for top users of SLIPS were presented by Central Bank Governor Ajith Nivard Cabraal at the 10th anniversary celebrations of LankaClear.

Commercial Bank is the largest private bank in Sri Lanka, and the only Sri Lankan Bank listed in the world’s Top 1,000 Banks. The Bank has been adjudged ‘Best Bank in Sri Lanka’ for 14 consecutive years by ‘Global Finance’ Magazine, and has won multiple awards as the country’s best bank from ‘The Banker,’ ‘FinanceAsia,’ ‘Euromoney’ and ‘Trade Finance’ magazines.