Another breakthrough product from LOLC Finance

Renowned for delivering real-world financial solutions, LOLC Finance PLC, Sri Lanka’s Non-Banking Financial Institution (NBFI) giant, has unveiled a comprehensive payment platform named, LOLC Real Time. This mobile and internet banking solution enables LOLC Finance customers to send and receive money, instantly via CEFT (Common Electronic Fund Transfer Switch) and SLIPS (Sri Lanka Interbank Payment System). LOLC Real Time which is a fully integrated online payment platform, offers unparalleled convenience to customers who seek a superior level of speed, ease and security within the financial ecosystem. 

With LOLC Real Time, customers can now transfer funds directly and instantly from their LOLC Finance savings account to any bank account of the recipient, using any device. This service is aptly supported by a 24-hour call centre which is equipped to handle customer enquiries on LOLC Real Time as well as ATM registration and other enquiries. Customers can register at any LOLC Finance branch to access the services of LOLC Real Time. 

Through LOLC Real Time, customers can make their utility bill payments and schedule payments that can be effected at a future date. It also facilitates LOLC Leasing and Insurance payments. In addition, customers can enjoy attractive interest rates on LOLC Savings accounts, with a zero cost on any transaction of any value. LOLC Real Time enables customers to manage multiple LOLC accounts, anytime from any location with just a click of a button.  It allows customers to be in control of their day to day financial management in real-time, experience paperless transactions and save time. 

Since the establishment of LOLC Finance in 2003, the company has been in the vanguard of introducing ground-breaking financial services and products to the domestic financial services sector. LOLC Finance was one of the first NBFI’s that received the mandate to introduce Foreign Currency Savings accounts and the first NBFI to register for SWIFT transactions. The company also pioneered the transferable Fixed Deposit Bond. In the internet and mobile banking landscape, LOLC Finance became one of the first NBFIs to connect with the CEFTS. Adding to this, the LOLC Real Time mobile app is one of the most advanced and secure Real Time payment gateways launched thus far in the NBFI industry of Sri Lanka. 

Elaborating on LOLC Real Time, Director/CEO of LOLC Finance Ashan Nissanka said, “Connecting people and businesses with user-friendly solutions has been one of our key priorities. With continuous technological innovation and improvement, we are geared to provide secure, next generation connectivity to our consumers, 24 hours of the day, 7 days of the week. Through the LOLC Real Timepayment platform, all fund transfers will occur in real-time, at zero cost.” 

Explaining about the technological aspect of LOLC Real Time, Conrad Dias, LOLC Group’s Chief Information Officer said, “We are delighted to introduce our customers a service beyond traditional banking that enables them to transact, any day anytime via LOLC Real Time. This is just the beginning of the digital journey for our customers that brings convenience to their fingertips with positive customer experience in mind.  LOLC Real Time is designed on a scalable architecture that complies with the highest levels of information security.”

LOLC Finance is the flagship finance company of the LOLC Group that offers carefully tailored financial solutions to a diverse customer base ranging from grass root level entrepreneurs to multinational organisations. Its portfolio of products and services include the maintenance of Savings and Term Deposit Accounts in Sri Lankan Rupees and Foreign Currency, Inward Worker Remittance, Money Changing, Issue of Visa Debit Card, Islamic Financing, Auto and SME Finance, Working Capital and Foreign Currency business. LOLC Finance is rated (SL) A (Stable) by ICRA Lanka Ltd. and is licensed by the Monetary Board of the Central Bank of Sri Lanka.