ComBank unveils ‘ComBank Digital’ with US-based Fiserv

The Commercial Bank of Ceylon has announced the integration of all its online and mobile banking channels on a single omni-channel platform with the launch of ‘ComBank Digital’ powered by Fiserv, the US-based global provider of financial services technology. 

The bank’s digital banking channels including online banking, mobile (WAP) and mobile banking-app and will all now run on a new highly secure, user-friendly and responsive web application catering to both retail and business users. The new web application is not only more vibrant and elegant, it also guides the users to the information and options they need. Simplified site navigation improves user experience and is also more actionable than the current web application.

The bank said ComBank Digital has its native mobile application which allows customers to handle their finances swiftly and securely on the go. The mobile application is compatible with both iOS and Android operating systems, and complies with international standards and best practices adopted to provide utmost user security.

Enhancing the user convenience, ComBank Digital features a range of built-in options that allow users to self-manage their digital banking preferences, through which the bank has enabled its digital banking users to customise their digital banking facility on their own without the assistance of a bank agent.

This single digital platform provides seamless transition across all devices including desktop computers, tablet computers and mobile phones for all existing users of the bank’s online or mobile banking services. Any Commercial Bank account holders that have not already registered can register themselves online for this facility, and enjoy its features without visiting a branch, the bank said. 

Existing digital banking customers can continue to operate with their current log-in credentials.  The convenient, time saving features offered include opening new accounts through ComBank Digital and applying for loans online.

Commenting on the launch of ComBank Digital, Commercial Bank Managing Director S. Renganathan said: “Commercial Bank has always been focused on meaningful innovation in its processes and service delivery. This new platform that unifies all our digital services on a single platform provides quick and smooth access to technology-enabled convenience with enhanced security features, and further encourages paperless transactions, advancing our efforts to promote environment-friendly operations.”

Standard services such as checking balances of current, savings, investment, loan, and credit card accounts, applying for Fixed Deposits, Personal Loans and Housing Loans, investing in Treasury Bills and effecting payments for share trading can be carried out securely via ComBank Digital. ComBank Digital also effects all transactions between own accounts, to third-party Commercial Bank accounts and to accounts in other banks on a real-time basis.

ComBank Digital also supports bill payments to more than 68 entities in nine categories such as telephone, electricity, water, credit cards, insurance, Pay TV, education, schools and rates.

The first Sri Lankan bank to be listed among the Top 1000 banks of the world and the only Sri Lankan bank to be so listed for nine years consecutively. Commercial Bank is celebrating its 100th anniversary this year. The bank, which won more than 50 international and local awards in 2019 operates a network of 268 branches and 865 ATMs in Sri Lanka. 

Commercial Bank’s overseas operations encompass Bangladesh, where the bank operates 19 outlets; Myanmar, where it has a Representative Office in Yangon and a Microfinance company in Nay Pyi Taw; and the Maldives, where the bank has a fully-fledged Tier I Bank with a majority stake.