LOFC joins LankaPay’s electronic fund transfer network

• Same-day fund transfers now enabled through all LOFC branches

Providing yet another value addition to its superior customer service, Lanka ORIX Finance Plc (LOFC) became the latest finance company to join the Sri Lanka Inter-Bank Payment Systems (SLIPS) network, enabling same-day financial transactions between LOFC and all other LankaPay SLIPS participants. SLIPS is an online interbank electronic fund transfer system operated by LankaClear Ltd., facilitating the movement of funds from one account to another. Electronic fund transfers can be performed between banks and finance institutions already connected with the LankaPaySLIPS network. It ensures speedy transactions without the hassle of handling intermediary-level documentation, providing island-wide reach for added convenience to all its users. Through this partnership, LOFC customers are provided with a highly efficient and secure system to fulfill their daily financial transactions. Individual and corporate customers alike can now access any one of LOFC’s branches located island-wide and perform their transactions as and when required. The SLIPS network comprises 26 banks, five specialised banks and seven NBFIs, and is accessible from any part of the country. Commenting on the partnership, Chief Executive Officer and General Manager of LankaClear Sunimal Weerasooriya stated: “We welcome LOFIN as a valued member of Sri Lanka’s largest electronic fund transfer network and we are certain this partnership will help LOFIN innovate and deliver next generation financial services to its valued customers. The LankaPay SLIPS network has grown rapidly over the years and today we proudly boast of 38 member institutions extending our service reach at well over 3000 branch locations island-wide. I take this opportunity to invite all institutions to take full advantage of the payment infrastructure facilities we offer and assure an exciting new year on electronic payments with ‘LankaPay’ where retail real-time payments will be a reality in the immediate future.”