Commercial Bank of Ceylon (ComBank) has launched a new generation of machines that offers several new advancements on the standard ATMs and deposit machines, including cash deposits that are credited instantly.
Sri Lanka’s largest private bank said it will be installing ‘Cash Deposit & Withdrawal’ machines in stages within its 251 strong branch network.
Card-less cash deposits are possible and the new machines accept cash deposits into third party accounts as well. They can be used to settle utility bills and dues on ComBank credit cards, the bank said. A sophisticated stacker that can accept and count up to 200 notes at a go eliminates the need for envelopes, making the machines more eco-friendly. Additionally, the new machines offer services such as balance inquiries, transfers of funds between linked accounts and changing of personal identification numbers (PINs) and accept requests for mini statements, the bank said. Detailed receipts are issued in respect of the transactions processed.
“Our continuing focus on technology is driven by our commitment to make transacting more convenient, more efficient and safer for our customers,” ComBank Managing Director/CEO Jegan Durairatnam said.
“These new machines represent a significant advancement in functionality and versatility and enhance our offering in 24x7 banking services.”
In 2015, ComBank commissioned a new generation of automated cash deposit terminals that completely eliminate the use of paper, launching a new Green Banking channel. These deposit machines may also be used to pay dues on ComBank credit or debit cards. They accept four denominations of currency notes – Rs.5000, Rs.1000, Rs.500 and Rs.100. Soiled or damaged notes, notes of other denominations or foreign currency notes are not accepted and are returned to the depositor via a ‘Reject Tray.’ Coins are also not accepted.
The bank’s digital banking platform now offers four types of machines for customers to do their banking with ease. The machines are traditional cash withdrawal ATMs, cash deposit machines, cheque deposit machines and the latest Cash Deposit & Withdrawal machines. The bank owns 638 cash withdrawal ATM terminals, the largest network owned by a single bank. Collectively, the bank now owns over 700 terminals for customers to do their banking transactions without entering a branch and filling out forms.
Shiromal and Giriraj appointed as Independent Directors
Shiromal Cooray and Giriraj Sinh Jadeja have been appointed as Non-Executive Independent Directors to the board of Commercial Bank of Ceylon PLC (ComBank) with effect from September 19, 2016.
Shiromal Cooray is Managing Director of Jetwing Travels (Pvt.) Ltd. She is presently serving as Chairperson of the Sri Lanka Institute of Directors and also serving on the Advisory Council for Tourism.
She has obtained a Master’s in Business Administration from the University of Colombo. She is a Fellow of the Chartered Institute of Management Accountants. Cooray has held several key positions at J Walter Thompson, Travel Agents’ Association of Sri Lanka and Sri Lanka Association of Inbound Tour Operations. Giriraj Sinh Jadeja is presently serving as Global Head, Financial Innovation at the International Financial Corporation (IFC).
A holder of an MBA in Finance from Baruch College CUNY, a Master’s Degree in Hotel Management from Oberoi School of Hotel Management (a Cornell University Affiliate Programme) and BA (honours) from St. Stephen’s College, University of Delhi.
He has held several key positions as Regional Industry Head – Asia, Senior Manager Latin America and The Caribbean Region, Mexico/Bogota, Manager – East Asia and The Pacific Region, Hong Kong, Senior/Principal Investment Officer – Financial Masters Division, Washington D.C. at the IFC.
Jadeja has also served as Director Acquisition/Integration and Business Development, New York, NY, Director Finance and Assistant to CFO, Manager/Senior Manager-Finance at American Express Travel Related Services Inc. Accordingly, the ComBank director board now comprises of Chairman Dharma Dheerasinghe, Deputy Chairman M.P. Jayawardena, Managing Director/Chief Executive Officer J. Durairatnam, Executive Non-Independent Director/Chief Operating Officer S. Renganathan and Non-Executive Independent Directors S. Swarnajothi, A.K.W. Jayawardene, K. Dharmasiri, L.D. Niyangoda, Shiromal Cooray and Giriraj Sinh Jadeja.