Commercial Bank launches online banking in Bangladesh
Wednesday, 23 October 2013 00:00
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The Commercial Bank of Ceylon has launched its sophisticated Internet banking service in Bangladesh, where the bank operates a network of 18 branches and service points.
The online banking platform offered to the bank’s customers in Bangladesh is identical to the upgraded online banking facility that was launched in Sri Lanka in the third quarter of 2012. It is designed to make online banking infinitely more experiential and expedient for customers of Commercial Bank.
Based on the Microsoft .net framework, Commercial Bank’s new online banking service offers exceptionally user friendly menus, benchmark security and encryption features, gives customers greater control and requires less intervention by the bank.
Self registration, a customisable ‘My Profile’ feature that can accommodate a personalised image, self-addition and registration of payment recipients, customisable templates for payments, multiple payments via a single basket, a Quick Navigation menu that reduces key strokes and customisable viewing of transaction histories are among the exciting new features of the system.
Enhanced security features include two-factor authentication for third party fund transfers; two-layer login; a virtual keypad; personalised security questions; password change and third party fund transfer alerts; and password encryption and verification via an advanced Hardware Security Module (HSM).
“Bangladesh has a rapidly growing customer segment that will greatly appreciate an online banking service of this quality,” Commercial Bank’s Assistant General Manager Operations Palitha Perera said.
“The extension of this extremely convenient and secure channel for banking to our customers in that country reflects Commercial Bank’s commitment to ensure that they receive the same facilities that are enjoyed by the bank’s customers in Sri Lanka.
The new online banking platform is on par with that of most leading global banks and reflects our leadership in offering meaningful high technology solutions,” he added.
In Sri Lanka, Commercial Bank’s online banking platform supports bill payments to more than 36 entities in nine categories; telephone, electricity, water, credit cards, insurance, pay TV, schools, rates and other.
Investing in Treasury Bills and effecting payments for share trading transactions is also possible, with self-registration of the user’s CDS number.
Commercial Bank’s customers in Bangladesh will be able to enjoy all these benefits including payments to Grameen Phone Company and ISD School fees. They further have the ease of accessing the facility on their smart phones via the WAP link of this new solution.
The largest private bank in Sri Lanka, Commercial Bank is the only Sri Lankan bank to be listed three years consecutively in the world’s top 1000 banks.
The bank operates a network of 232 service points in Sri Lanka and a network of 576 ATMs.
The bank ventured into Bangladesh in 2003 with the acquisition of the business in that country, of Credit Agricole Indosuez (CAI). It is the fourth largest foreign bank operating in Bangladesh today.
