Bank of Ceylon is poised, geared and rearing to bring the world of banking to the top of its customer’s palms as it prepares to launch the new palmtop agent banking solution “BOC Connect”.
This was ceremonially launched on 09th August 2021, at Gomarankadawala and Mahadivulweva with the participation of the Bank’s Chairman Mr Kanchana Rathwaththe, General Manager Mr. D P K Gunasekara and members of the Corporate and Executive Management.
With the theme of connecting the City with the Village, bringing the benefit of digitalization to the rural community, BOC Connect is expected to be used as a tool that promotes branchless banking in the country by appointing agents to perform financial transactions using Points of Sale (POS) devices. Authorized agents are appointed to cover all provinces of the nation – and these agents are tasked with the responsibility of facilitating cash deposits, cash withdrawals, fund transfers, bill payments, mobile top-ups, and many other payments. BOC Connect will set an example to financial industry of Sri Lanka since it has been approved by the CBSL which aligned with Digital Banking Roadmap of Sri Lanka and supports financial inclusion of the country.
The Bank of Ceylon’s digital journey has passed many milestones by introducing many breakthrough digital and innovative solutions such as BOC SMART Online Banking, the “B” app which employs advance encryption technologies that enable a safe and secure avenue for mobile banking, BOC Smart Passbook which enables customers to view their transactions and balances online, the SmartPay app that enables QR and other payments, SmartGen digital accounts which doesn’t require any paperwork to maintain, BOC DIGI the bank branches for young generation, Branch on Wheels the mobile branches, Apply Online facility for accounts opening and loan requests, and a sophisticated internet payment gateway (IPG) to integrate with merchant websites. Customers can remain certain that many other such innovative solutions are in the pipeline.
Further, when the country is under lockdown or travel restrictions due to COVID-19, this kind of services will be of great assistance to the people throughout the country to obtain day-to-day financial services at their doorstep and at their convenience.
BOC understands that financial inclusivity can be further improved if individual’s saving habits can be improved without having going through the hassle of visiting banks directly. This attempt will further enhance the financial inclusivity of the country with special reference to the rural community.