Seylan Bank’s innovative ‘Thagi Pita Thagi’ proves a success

By Shanuka Tissera

Since October 2011, Seylan Bank looked to re-stimulate the concept of banking rewards schemes in Sri Lanka with its promotion ‘Thagi Pita Thagi’. The lucky winner of the coveted top prize of a Rs. 15 million super luxury house was announced on 3 August at Cinnamon Grand and was awarded to Achala Nakkawita.

Seylan Bank Chairman Mohan Pieris explained how there was a new outlook for the company. Investor confidence is on the rise and this is thanks to augmenting the bank’s deposit base. Deposits stand at Rs. 125 billion at March 2012 and since the promotion started, the bank has seen a 31% increase in Q1 deposits to a value Rs. 13 billion.

“We are helping people in all industries, from industrialists to entrepreneurs, and our Q2 results are going to be very promising and are in growth lines with Q1. We are on a journey towards collective prosperity and we must maintain this growth momentum to become the leading banking institution in Sri Lanka.”

Achala Nakkawita and her husband both have Savings Accounts with Seylan Bank and shared that they have been banking with Seylan Bank for many years due to its superlative service and their confidence in the bank.

“I am absolutely delighted that by saving in Seylan Bank I got the opportunity of winning the biggest prize that anyone can ever dream of. All my family savings and investments will henceforth be with Seylan and I am specially going to open a Seylan Tikiri Plus Account for my newborn child,” she added.

Over the past six months Seylan’s ‘Thagi Pita Thagi’ promotion has created six millionaires and has meaningfully touched the lives of nearly 16,000 Sri Lankans from all over the country with a variety of prizes. The promotion began with an exciting teaser campaign where helicopters were used to drop coupons across the country along with all Seylan staff members going door to door distributing leaflets at a grass roots level.

With the highest number of qualifying products ever, ‘Thagi Pita Thagi’ also had 20 guaranteed monthly consolation branch winners in addition to other monthly winners. Home entertainment system, motorbike, wash machine, home appliances and gold sovereigns were just some of the prizes up for grabs.

Pieris announced: “As we reach the grand finale of Seylan’s ‘Thagi Pita Thagi’,’ we are happy to have brought about a significant and meaningful change in the lives of many citizens in this country. Apart from the six millionaires who were created, thousands of others benefited through the gift scheme during these past six months. We are delighted to note that this innovative scheme has not only blazed a trail in Sri Lanka’s banking industry, but also rewarded so many Sri Lankans across the country.”

The intelligent innovation by Seylan Bank has shown itself in history, when the Bank of England banned the transfer of checks. Customers now had to go and open their own bank account and therefore had to become a regular customer, hence bank deposits rocketed. The company witnessed a similar change in direction through this latest and surely not last big promotion.

Seylan Bank General Manager/CEO Kapila Ariyaratne said: “Seylan ‘Thagi Pita Thagi’ was yet another example of our commitment to constantly deliver greater value to our customers by focusing on more innovative value propositions. We are extremely gratified that this rewards scheme will soon became one of the most popular and sought after propositions in the financial services industry. As always, we are fully committed to serve our thousands of customers across Sri Lanka and we invite all Sri Lankans to share the benefits of being part of the every growing Seylan family.”