BOC introduces Smart Fixed Deposit account

The Bank of Ceylon introduced a more convenient mode of saving and encourages green banking through the bank’s newest product, Smart FD. With the introduction of Smart FD, customers are able to open, withdraw or cancel Fixed Deposits more conveniently without having to visit the branch. Customers who are above the age of 18 can open Smart FDs individually or jointly.

Once the customer fills in the details and select the tenor as mentioned in the application, he/she can submit the application to any branch he/she wishes. Since Smart FD does not compromise of a physical certificate, customers will receive the e-mail confirmation to the provided email address and SMS to the given telephone number.Further, the depositors do not need to worry about protecting the certificate or producing the certificate to bank at maturity. Opening and closing of Smart FDs can be done simply by giving instructions to any BOC branch.

In line with the BOC’s process of automation and digitalisation of business processes, in order to provide more convenience to its customers, recently the bank has added Personal Loans and Home Loans apply online facility to its website. The bank expects to add Accounts Opening and complaints handling also to its website soon.

Further the bank has expanded the digital presence by opening 178 SmartZones, 763 ATMs and 161 CDMs.The bank expects to introduce a new Internet Banking platform and a mobile banking solution within the year. Recently the bank launched its e-passbook ‘Smart Passbook,’ which is available on Google Play store for free download. Also the Bank is in the process of expanding its mobile branch network ‘Branch on Wheels’ to all provinces, providing digital banking experience to entire country.

As part of Green Banking initiatives, the bank is also carrying out a raffle draw to encourage all customers to enroll for e-statement. This draw is opened to all NRFC and Current account holders till 28 February. It will be conducted to select eligible winners in the month of March to select winners for a 48” curved Smart LED TV as the first prize, an iPad (pro 12.9 128G8) as the second prize, an Apple iPhone 7 as the third prize and 50 smart phones as consolation prizes. The prime objective of these initiatives is to encourage customers to save the environment by saving trees and reducing carbon footprint, the Bank of Ceylon has embarked on comprehensive green banking initiatives led by digital infused transformation process.

“The bank’s approach to cater to the very dynamic banking needs of its customer base has been the key factor behind BOC brand’s 78-year-long success. Since its inception in 1939, Bank of Ceylon’s motive was the same as promoting social and economic development of the country and its people. As such the bank has been strategically adapting its products and services portfolio with the understanding of future social and economic trends that requires tailor-made banking and financial services,” stated Chairman President’s Counsel Ronald C. Perera.

Bank of Ceylon General Manager D.M. Gunasekera stated: “BOC’s digital transformation completely changed the bank’s internal processes along with its customer interface and infused synergy to the whole Sri Lankan banking system. Along with the benefits of digital transformation BOC was able to embark on a sustainable growth together with the community. We have many Green Banking programs which together with digital technology infused transformation have introduced green processes, product and services and also strategies and green infrastructure that includes IT and physical infrastructure.”