ComBank shines at LankaPay Technnovation Awards 2024

Commercial Bank Managing Director/CEO Sanath Manatunge, Chief Operating Officer S. Prabagar and members of the Bank team accepting the overall Silver award

The Commercial Bank of Ceylon won three Gold awards and two Silvers at the LankaPay Technnovation Awards 2024, reaffirming the Bank’s status as a frontrunner in payment technology innovation in Sri Lanka. 

The Bank was presented the Silver in the ‘Overall Award for Excellence in Digital Payments’ in addition to being recognised as the ‘Most innovative Bank of the Year’ with a Gold award, and receiving the Gold awards for ‘Best Bank for Retail Payments’ and for ‘Best Mobile Application for Retail Payments via LankaQR’ for ComBank Q+ - the Bank’s QR Payments App. The Bank also won the overall Silver Award as ‘Best LankaPay Card Implementor of the Year.’

The Bank said these awards reaffirm the Bank’s supremacy and its pioneering products and services in the digital payments sphere.

Themed ‘Vision Beyond Borders,’ the LankaPay Technnovation Awards hosted by LankaClear Ltd., the operator of LankaPay national payment network, took place at the Shangri La Hotel, Colombo.

The Commercial Bank of Ceylon was the first bank in the country to enable its entire automated teller machine (ATM) network to acquire and process ATM transactions through the EMV (Europay, Mastercard and Visa) integrated circuit, and the first to activate its entire EMV chip card base(Debit and Credit cards) to perform secured EMV transactions through the LankaPay ATM network, making it possible for the Bank’s own cardholders to securely perform transactions using other bank ATMs connected to the LankaPay network.

Commercial Bank is also one of the first banks in Sri Lanka to have its point-of-sale (POS) network accept LankaPay-JCB (Japan Credit Bureau) co-branded cards issued under the national card scheme program. 

Organised by LankaClear Ltd., the operator of LankaPay national payment network, the LankaPay Technnovation Awards are Sri Lanka’s pioneering and only payment technology innovation awards. The initial shortlisting of institutions eligible for awards was carried out based on the performance of individual banks, non-banking financial institutions and Fin Tech service providers, against set criteria.

LankaClear is owned by the Central Bank of Sri Lanka (CBSL) and all LicenCed Commercial Banks operating in the country. The company offers multiple solutions not only for the banking sector but also across all industries that are ready and willing to adopt or integrate the latest digital technology driving Sri Lanka toward an efficient, green, and paperless nation.