NDB crowned as ‘Best Consumer Digital Bank Sri Lanka 2020’

• By Global Finance World’s Best Digital Bank Awards 2020

NDB was recently crowned as the Best Consumer Digital Bank Sri Lanka 2020 under the Global Finance World’s Best Digital Bank Awards 2020 program, emphasising the success of the Bank’s accelerated digital transformation.

NDB was the only Sri Lankan domestic bank to win an award at this program for the second consecutive year, and joined reputed regional peers such as DBS Singapore, Citibank, Standard Chartered, Maybank Indonesia and Ping An Bank China as other winners.  

This is the 21st year Global Finance has named the World’s Best Digital Banks.

Winning banks were selected based on the following criteria: strength of strategy for attracting and servicing digital customers, success in getting clients to use digital offerings, growth of digital customers, breadth of product offerings, evidence of tangible benefits gained from digital initiatives, and web/mobile site design and functionality.

“This year, a global pandemic accelerated the transition to digital banking, but forward-thinking banks were already on that road,” said Joseph D. Giarraputo, publisher and editorial director of Global Finance in a press release. “The Digital Bank Awards hone in on the institutions that are leading the shift toward a new world of banking.”

Digital Banking in Sri Lanka has become increasingly competitive over the years with banks implementing new technology and digital savvy offerings for consumers. In spite of such competition, NDB has made is a point to stand out once again at the forefront of digitalisation. 

The launch of the Bank’s NDB NEOS Mobile Banking application – known as the NEOS App Powered by NDB, was the fore runner which enabled the Bank to launch the NDB NEOS Online Banking platform in April 2020, during the peak of Sri Lanka’s COVID-19 crisis. The NDB NEOS Online Banking has garnered popularity nation-wide as a state-of-the-art digital banking platform, with absolute connectivity to all of NDB’s banking services especially during the lockdown period. 

Because new users can easily register using their existing account or card details and continue accessing both channels simultaneously with the same credentials, NDB customers found the NDB NEOS platforms convenient, hassle free and safe. Customers were able to schedule transactions, make bill payments and fund transfers, receive instant notifications, manage their entire financial portfolio, control their credit card payments and have control over all NDB cards, as well as to make direct inquiries and requests. 

Meanwhile, during such a time where minimum contact with others is in the best interests of every individual, NDB introduced NEOS Pay, a QR payment method in which customers can make payments to merchants, pay bills and make a host of other transactions via the same platform.

This QR payment method will allow the customer to avoid using cash, and instead, make payments or pay bills via their NEOS App – powered by NDB, from their NDB Bank account or their other bank accounts registered with NEOS. The user does not need to have an account at NDB to use this facility, as NEOS Pay delivers a one stop payment app for all bank customers. 

Customers can now use multiple platforms within the NEOS App (QR/Just pay/Bill payments/CEFTS).

We have witnessed an environment where everything has seen a paradigm shift, changing the way a customer banks, how brands are perceived, etc. By following a clear strategy for Digital Banking innovations NDB has set the wheels in motion to make the want of becoming Sri Lanka’s best Digital Banking provider a reality taking the entire banking foundation on to a new equilibrium.

The Bank, which is the fourth largest listed bank in Sri Lanka, is one of the fastest growing banks, having had a cumulative average growth rate (CAGR) in advances by 21% and in deposits by 25% in the last four years. The only financial service conglomerate in Sri Lanka, NDB Group is uniquely positioned towards assisting the growth and development of the Sri Lankan capital market to provide its customers seamless access to the product and service offerings of all its group companies.