Commercial Bank selects integrated digital banking solution from Fiserv

• To be first in Sri Lanka to offer integrated digital banking experience across smartphones, tablets and desktops
• Fiserv solutions to enable business agility, enhance customer engagement

Fiserv, Inc., a leading global provider of financial services technology solutions, has announced that Commercial Bank of Ceylon (COMBANK), Sri Lanka’s most awarded bank, will replace its current digital platform with an integrated digital banking solution from Fiserv to speed the delivery of new capabilities that meet the needs of retail and corporate customers. 

The bank will implement DigitalAccess from Fiserv, a readily deployable solution that provides a rich digital banking experience across smartphones, tablets and desktops, making it the first bank in its market to offer fully integrated digital banking capabilities. 

DigitalAccess will allow COMBANK to develop and deploy new banking capabilities and upgrades quickly and cost-effectively, improving speed to market while providing customers the flexibility and convenience they expect. The solution will also enable COMBANK to deliver digital banking services in local languages, Sinhala and Tamil for Sri Lanka, Bengali for Bangladesh, and Divehi for the Maldives, facilitating stronger customer engagement.

“Commercial Bank of Ceylon has utilized core banking technology from Fiserv for over two decades, and we knew we could turn to them as a reliable partner to help us enhance the digital banking experience we offer our customers,” said S. Renganathan, Chief Operating Officer, Commercial Bank of Ceylon. “DigitalAccess will allow us to quickly deliver new features and functionality to our increasingly tech-savvy customers, in their respective languages, helping us connect and engage with them more effectively.”

DigitalAccess, which integrates with the bank’s core account processing platform, Signature from Fiserv, enables digital onboarding to allow customers to open bank accounts and apply for credit cards, loans, and other banking products without having to visit a bank branch. Additional features include personal financial management tools, online mobile phone top-up capabilities, biometric authentication, actionable push notifications, and ATM and branch location searches.

“Consumer expectations of their financial services providers have never been higher, and this is increasingly true in mobile-first markets, where many consumers have leapfrogged over traditional financial service models to engage digitally,” said Marc Mathenz, Senior Vice President and Managing Director, Asia Pacific, Fiserv. “Commercial Bank of Ceylon is putting technology in place to allow them to update their digital banking services quickly, so they can be responsive to customer needs and stand out in a competitive market.” 

Available to financial institutions outside the United States, DigitalAccess is designed to help meet the needs of new or growing financial institutions that require a solution with packaged and easy to deploy functionality. DigitalAccess offers the agility to meet fast-changing business and customer requirements, including the ability to scale as the business grows.

Fiserv solutions enable clients to achieve best-in-class results in 16 countries across Asia Pacific. Fiserv provides a range of solutions to clients, including some of the largest banks in Australia, Thailand, and Indonesia, through its more than 4,000 associates in the region and offices in Sydney and Singapore. Worldwide, Fiserv supports more than 12,000 clients in over 80 countries with more than 23,000 associates and moves more than $75 trillion each year on behalf of its clients.