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“The rapid growth of business activities in the Jaffna Peninsula needs to be supported with state-of-the-art banking technology and services,” said e-Banking Chief Manager Pradeep Banduwansa.
“Commercial Bank is happy to be able to fulfill this need with its advanced digital banking services. Customers were extremely pleased with the presentation made to them on mobile and online banking. Many queries related to the services were sorted out and they are excited to use these services.”
The corporate version of Commercial Bank’s online banking provides the latest security enhancements for the benefit of corporate customers, such as a two-layer login, secure image upload where a user can upload a favourite image on to the online banking portal so that it will be displayed when signing in, facilitating verification of the site prior to entering a password and a virtual keyboard that gives the user the option to use an onscreen keyboard to avoid the theft of passwords.
Viewing images of deposited and presented cheques is also possible for users of this facility. This is the first time a bank in Sri Lanka has enabled its customers to view images of their deposited and clearing cheques through an online banking platform. The registration of regular payment beneficiaries and executing payments to them 365 days a year is also now possible. The submission of Letter of Credit applications with the upload of supporting documents is also now possible. The bank has also enabled a corporate administrator facility for companies to manage their internal user authorities as and when required without having to contact the bank. The multilevel authorisation module introduced for financial transactions is extremely convenient for corporate clients using this latest online banking facility.
The personal version of Commercial Bank’s online banking service already enables customers to apply for fixed deposits, personal loans and housing loans, check the balance of their current, savings, investment, loan and credit card accounts, and transfer funds between their own accounts and registered third parties who have Commercial Bank accounts, on a real-time basis around the clock.
The online banking service also supports bill payments to more than 36 entities in nine categories such as telephone, electricity, water, credit cards, insurance, pay TV, schools and rates.
The bank’s mobile banking facility is operated on USSD (Unstructured Supplementary Service Data) technology to communicate with their service providers’ computers.
With its easy to access menu-driven portal, USSD-based mobile banking offers greater convenience and functionality enabling users to carryout numerous banking transactions including account balance and credit card balance Inquiries, utility bill payments, fund transfers, exchange rate inquiries, PIN changes, mobile reloads and requests for micro statements.
Because these services are offered on the USSD platform, they can be accessed via any phone device ranging from a basic phone unit that is in the market and does not require an internet connection.
Additionally, Commercial Bank customers who use Apple and Android mobile devices are provided with a new level of convenience through the bank’s mobile app. Offering both online and offline functionality, the app, which can be downloaded free of charge, enables users to conduct a wide range of transactions and view key information on their mobile phones 24 hours a day.
Among the online features are a dashboard view for account inquiry and bank notifications sent via secure messages, credit card balance inquiry, bill settlement, current cycle of transactions and online payment history, inquiries on investments and loans, payments and online payment history, transfer of funds between personal and registered accounts with online transfer history and password changes.
The offline menu provides locations of Commercial Bank branches and ATMs, exchange and interest rates, general notices, a ‘Help’ feature and the ‘Contact us’ option.
