Seylan Bank joins LankaPay CEFTS for instant fund transfers

From left: LankaClear Ltd  DGM IT & Operations Harsha Wanigatunge; Seylan Bank PLC ITC Chief Manager Sampath Fernando; Seylan Bank PLC ITC Deputy General Manager Chanaka Goonewardene, Seylan Bank PLC Senior Deputy General Manager Operations Nimal Tillekeratne; LankaClear Ltd GM/CEO Channa de Silva; LankaClear Ltd Payment Systems Senior Manager Hemantha Samaliarachchi; and LankaClear Ltd Processing Center Manager Harsha De Silva.

In a fresh initiative towards enhancing customer experience, Seylan Bank recently joined the Common Electronic Fund Transfer Switch (CEFTS) launched by LankaPay, the national payment network operated by LankaClear Ltd. 

The system is launched under the guidance of the Central Bank of Sri Lanka to offer customers of its member banks the convenience and flexibility of making inward and outward fund transfers, within the country at a nominal fee in real time, 24 x 7 x 365 days of the year.

CEFTS is a cost effective, convenient and integrated electronic payment network; by joining which the Seylan Bank customers can now enjoy an unparalleled banking experience with greater convenience, whilst managing their finances effectively.  

This facility will no doubt be a value addition  to SLIPS and Real Time Gross Settlements (RTGS) that are currently used for domestic money transfers. This is yet another major initiative taken by Seylan Bank “The Bank with a Heart” in upholding its reputation as an innovative player in the industry.

Both retail and corporate customers of Seylan Bank will benefit immensely through this facility which is extremely convenient, yet faster, secure and cost effective. 

The other banks and financial institutions who are currently on CEFTS are Bank of Ceylon, People’s Bank, Commercial Bank, Hatton National Bank, NDB Bank, Cargills Bank, HSBC, Union Bank, LOLC Finance PLC, Commercial Leasing & Finance PLC.