Sampath Bank pioneers ‘cardless cash ATM’

Wednesday, 18 December 2013 00:47 - - {{hitsCtrl.values.hits}}

Sampath Bank , the pioneer in introducing many innovations to the Sri Lankan banking industry, has launched its latest state-of-the-art banking facility, the ‘cardless cash ATM’ for the first time in Sri Lanka. This new facility will facilitate the customer to withdraw cash from ATMs without using an ATM debit card. The first-ever ‘cardless cash ATM’ was launched yesterday at the head office of Sampath Bank under the patronage of Aravinda Perera, Managing Director, Sampath Bank.

The bank plans to extend this facility to their entire ATM network by January 2014. Sampath Bank introduced networked ATMs to Sri Lanka in 1988 for the first time with the popular brand name ‘SET’. Master card was introduced to Sri Lanka in 1989 and established the Uni-Banking system first time in the country allowing customers to operate their accounts from any branch irrespective of the branch where the account was opened. Expanding its business to provide customer convenience by using technology ,the bank introduced the DEBIT CARD in South East Asia in 1997. Sampath Bank as the technological trend setter of Sri Lanka’s banking and finance service industry has revolutionized e-remittances through yet another first offering via mobile cash. The other product innovations were mainly the Foreign Currency Exchange ATM - this is a unique ATM that converts foreign currency to SL Rupees , and the users of the ATM need not be Sampath Bank Account holders as this is operated without an ATM card. This was a first time implementation by a Sri Lankan Commercial bank. The other was the introduction of Mobile Cash- a novel experience for Sri Lankans to send and receive money via any mobile / CDMA phone. From a systems innovation point of view the common ATM switch introduced by Sampath Bank stood out from the rest. Sampath Bank has connected several other leading banks in to one common switch thereby creating the largest ATM network of 1,750 ATMs in the country. Sampath Bank, a public limited liability company, is the pioneer in innovation in the banking sector in the country. It caters to a wide array of customers facilitating management of personal finances through a range of products.