ComBank launches Lanka’s first ‘WhatsApp Banking’ facility | Daily News

ComBank launches Lanka’s first ‘WhatsApp Banking’ facility

Demonstrating its innovative use of new-age communications, Commercial Bank has pioneered a ground-breaking product on the world’s most widely-used messaging platform WhatsApp to become the first Sri Lankan bank to offer Banking Services on the platform.

Possibly the easiest and fastest form of contactless banking yet for smartphone users, Commercial Bank’s WhatsApp Banking offers services to both account holders and non-customers, and importantly, can facilitate the opening of accounts for those seeking to become customers, the Bank said.

Customers of Commercial Bank of Ceylon can use this facility simply by typing ‘Hi’ on WhatsApp and sending the greeting to the designated number. A simple one-time registration process would be in place to verify the customer’s identity prior to sharing any sensitive data, ensuring sensitive data is secured and protected.

Account-holders can access several services including finding out their account balance, viewing account history, or requesting a cheque book, while both customers and non-customers can ask for fixed deposit rates and foreign exchange rates, self-register with the ComBank Digital app or open a new account through the Flash Digital Bank Account via WhatsApp Banking.

“More than two billion people worldwide now use WhatsApp for their messaging needs, and in Sri Lanka, it is estimated that more than 6.5 million people use social media,” Commercial Bank’s Managing Director S. Renganathan said. “The most popular messaging platforms are therefore the most logical path to enhancing access to services, especially at a time when social distancing has become the norm.

WhatsApp Banking does not require the user to be particularly tech-savvy as the app is widely used and familiar to millions of people.”

The launch of this service eliminates the need for customers to visit a branch for basic banking services. WhatsApp Banking will function as an interim digital offering through which the Bank can reach busy customers inclined towards digitizing their banking experience, the Bank said. Earlier this year, ComBank announced the integration of all its Online and Mobile Banking channels on a single omnichannel platform with the launch of ‘ComBank Digital’ powered by Fiserv, the US-based global provider of financial services technology.