Sri Lanka's best digital bank 2017: Commercial Bank
The Commercial Bank of Ceylon might still have an old-fashioned name, but 2016 has seen ComBank make a big leap into Sri Lanka’s banking future. A revamped website saw its online customer base grow by 34% over the year to claim the title of the country’s most-used online banking site.
And ComBank’s reputation for solidity among Sri Lankans helped expand the value of transactions made through its platform by 10% and the volume of financial transactions by 28%. Alongside this, ComBank’s mobile banking base grew to 450,000 people, or by 70%, in 2016.
New launches were at the heart of these improvements. For example, ComBank launched e-Passbook, a mobile phone app, for the first time in south Asia, which gives customers a real-time view of balances and transactions. It also launched the facility for customers to apply for loans and fixed deposits through its online banking platform.
CEO Jegan Durairatnam told Asiamoney that his next aim is to position ComBank to ensure Sri Lanka’s tech-savvy millennials feel as confident and comfortable enough to bank with him as their parents and grandparents did.
“ Be prepared to see more modernization from us,” he pledges.