June 20, Colombo: The Commercial Bank of Ceylon has been named the Best Internet Bank in Sri Lanka by Global Banking and Finance Review of the UK, for the third successive year.
The accolade was created by this prestigious publication to recognize companies within the global financial community that provide their customers high quality of service and innovation via Online and digital platforms.
"Commercial Bank is at the forefront of developing and deploying innovative and game-changing banking services through on-line, mobile and other digital channels," the Bank's Chief Operating Officer S. Renganathan said. "We have significantly enhanced the versatility and reach of our internet banking services and are delighted to receive this coveted award."
The value of Commercial Bank's Online Banking transactions grew to Rs 663 billion by the end of 2017, making it one of the most popular digital payment platforms of Sri Lanka.
The most subscribed online payment portal in the country, Commercial Bank's Online Banking platform facilitates customer convenience through a diverse range of fund management options for both individual and corporate customers. The personal online banking platform offers an exceptional range of features such as fund transfers across a variety of accounts, cross-currency transactions on real time basis, and bill payment facilities to over 65 institutions including telephone, electricity, water, credit cards, insurance premiums, education services, sports and recreation and purchase of air tickets. The portal allows customers to apply online for facilities such as personal and housing loans, fixed deposits and investing in treasury bills and also to effect share trading payments.
The sophisticated corporate online payment platform of Commercial Bank enables corporates to effect virtually all payments ranging from employees salaries, statutory payments such as EPF and ETF, commissions, interest and insurance payments, dividend payments, bulk utility payments and duty payments to Sri Lanka Customs. The platform is equipped with sophisticated features to facilitate delegation of authority with single, dual and multilevel authorization and appointment of a company administrator.
Read in over 200 different countries by Presidents, CEOs, CFOs and senior decision makers within Fortune 500 companies, major banks, financial institutions, Central Banks, and individuals interested in financial markets and news, Global Banking & Finance Review is a leading online and print magazine which has evolved from the growing need to have a more balanced view for informative and independent news within the financial community.
The only Sri Lankan bank to be ranked among the Top 1000 banks of the world for seven years consecutively, Commercial Bank operates a network of 261 branches and 767 ATMs in Sri Lanka. The Bank has won more than 30 international and local awards in 2016 and 2017 and has over the years received multiple awards as Sri Lanka's Best Bank, Best Trade Bank, Strongest Bank and Most Respected Bank from a number of local and international institutions and publications.
Commercial Bank's overseas operations encompass Bangladesh, where the Bank operates 19 outlets, Myanmar, where it has a Representative Office in Yangon, the Maldives, where the Bank has a fully-fledged Tier I Bank with a majority stake and Italy, where the Bank operates its own money transfer service. (Media Release)