First Capital’s WhatsApp investment service redefining SL’s future in digital financial transactions

• For First-Time Investors, the service offers a low-barrier entry point via an interface that is familiar to them
• Proactive adoption of AI and automation clearly demonstrates how technology can scale devices efficiently while elevating customer experience.  
• By offering services in Sinhala, Tamil, and English, First Capital Holdings PLC is ensuring that language is no longer a barrier in financial empowerment

Mithila Abeysekera

In an era where digital transformation is essential to the reshaping of industries, First Capital Holdings PLC, a subsidiary of JXG (Janashakthi Group), has once again stepped into the forefront of innovation with its latest endeavour, Sri Lanka’s first transactional investment banking solution, the Unit Trust and Government Securities Tri-lingual project. 

This is the first transactional platform that allows investment and withdrawal via WhatsApp. This initiative is a testament to First Capital’s commitment to making investments easier, more convenient and user-friendly. 

At the helm of this initiative is Mithila Abeysekera, Chief Technology and Digital Officer (CTDO), at First Capital Holdings PLC. His vision and expertise have played a pivotal role in integrating cutting-edge solutions into financial services. he shares his insights into the WhatsApp for Unit Trust and Government Securities Tri-lingual project, its impact on investors, and how First Capital Holdings PLC is reshaping the future of digital investments. 

Following are excerpts:

QHow is First Capital Holdings’ WhatsApp investment service redefining the future of digital financial transactions in Sri Lanka?

First Capital Holdings PLC’s WhatsApp investment service has pioneered a shift in how Sri Lankans interact with financial services. It simplifies the investment process by allowing customers to invest and withdraw funds on an easy-to-use platform that they are already familiar with. By simplifying transactions, First Capital Holdings PLC is removing traditional barriers to investing. Combined with tri-lingual support, the service significantly enhances accessibility, inclusivity, and ease of use, setting a new benchmark in digital financial engagement in the region.  

QWhat challenges did First Capital Holdings PLC face in integrating Unit Trust transactions into WhatsApp, and how were they overcome?

There was no shortage of challenges when it came to incorporating Unit Trust transactions into WhatsApp. This was especially evident around customer adoption and technical execution. 

Educating users about the new service and establishing trust was a key hurdle that we needed to surpass. This was addressed through strong security protocols, including OTP-based authentication and a robust customer communications strategy.

On the technical side of things, it was important to ensure seamless backend integration for financial transactions, which required tight coordination and collaboration between development, IT and operations teams. All of these challenges were overcome through agile development, thorough testing, and a clear focus on user experience. 

QHow does this service fit into the broader trend of digital transformation in SL’s financial services sector?

This initiative exemplifies the direction in which Sri Lanka’s financial ecosystem is travelling, which is towards convenience, digitisation, and broader financial inclusion. This service aligns with Sri Lanka’s digital banking evolution by making financial products more accessible on mobile platforms. 

The WhatsApp-based investment platform demonstrates how fintech innovations can streamline investment processes and improve financial inclusion. The service’s recognition with a Gold Award at the National ICT awards further highlights its role in pushing the boundaries of digital financial services. 

QHow does First Capital Holding PLC’s WhatsApp-based service improve financial accessibility for both seasoned and first-time investors?

For First-Time Investors, the service offers a low-barrier entry point via an interface that is familiar to them. This removes the complexity that is traditionally associated with investment platforms. Whereas for Seasoned Investors, the platform ensures swift, on-the-go portfolio management without the need to access multiple tools or logins. The intuitive WhatsApp-based process bridges the gap for both groups, offering a seamless experience.

qIn what ways does the introduction of tri-lingual support enhance inclusivity in Sri Lanka’s investment landscape?

By offering services in Sinhala, Tamil, and English, First Capital Holdings PLC is ensuring that language is no longer a barrier in financial empowerment. This addresses a long-standing gap in accessibility, allowing more Sri Lankans, regardless of linguistic background to take control of their financial futures with confidence. 

QWhat security measures are in place to ensure customer confidence in WhatsApp-based transactions?

Security was a top priority in the development of this service. Some of the key measures taken include OTP-based authentication at login and verification stages, which ensure that only verified users were able to access their accounts. All communication is protected through end-to-end encryption, which safeguards customer data and transaction details. Furthermore, confirmation is sent via email and SMS, offering transparency and real-time tracking. These practices align with strict cybersecurity regulation and reinforce customer trust in the platform. 

QHow do you see WhatsApp-based investment solutions influencing the growth of Unit Trust investments in Sri Lanka?

By making investing more accessible and easier to manage, WhatsApp-based solutions are expected to drive higher adoption rates, particularly among younger professionals and digitally savvy users. The simplicity and ease of access will likely increase participation in Unit Trust investments, contributing to overall growth in the sector. 

QCould this model be expanded to other financial products or services in the future?

Definitely, the WhatsApp-based model holds strong potential for further expansion across a host of financial products and services. First Capital Holding PLC has already begun Treasury bill and bond investment functionality for the government sector on this platform. 

Going forward, the company plans to integrate AI-powered chatbots, further extending the range of services accessible via WhatsApp. The idea is to create a holistic digital ecosystem for customers, streamlining everything from investment decisions to portfolio management. 

QHow does First Capital Holding PLC’s innovation compare with global trends in digital financial services?

First Capital Holding PLC’s WhatsApp investment service aligns with global trends such as conversational banking, embedded finance, and AI-driven personalisation. Similar innovations are being adopted by institutions around the world, including JP Morgan, Citibank, and DBS, indicating a shift toward more intuitive, app-integrated services. 

By enabling customers to transact via a platform they use daily, First Capital is not only keeping up with but also contributing to global digital transformation in finance. 

QWhat role does AI and automation play in shaping the future of digital financial transactions in Sri Lanka?

AI and automation are set to play an increasingly important role in shaping the future of digital finance in Sri Lanka. They can drive personalisation by offering tailored investment advice, automate routine processes such as KYC verification, and enhance customer support through chatbots. AI also supports advanced fraud detection using behavioural analytics. Together these capabilities can enable smoother, more secure and more intelligent financial interactions across digital platforms. 

QHow can financial institutions leverage popular messaging platforms like WhatsApp to enhance customer engagement?

Banks and financial institutions can tap into messaging platforms such as WhatsApp to offer real-time, personalised customer support through AI-driven bots, provide instant access to account information and transaction histories, and streamline processes such as loan applications or fund transfers. 

These platforms can be used to deliver timely financial insights and reminders, which will help users stay on top of and in control of their finances with minimal effort. 

QWhat lessons can other financial service providers learn from First Capital Holdings PLC’s approach to digital innovation?

First Capital Holdings PLC’s journey offers valuable insights for other financial service providers. It underscores the importance of meeting customers where they are and on platforms that they are used to and trust. The focus on user convenience, combined with robust security and a multilingual approach, sets a clear benchmark for inclusive and customer-centric service delivery. Furthermore, the proactive adoption of AI and automation clearly demonstrates how technology can scale devices efficiently while elevating customer experience.  

The WhatsApp for Unit Trust and Government Securities Tri-lingual project has set a new benchmark in digital financial services in Sri Lanka. It not only simplifies investment but also reinforces First Capital’s dedication to leveraging technology for financial empowerment. 

As digital transformation continues, innovations like this will be instrumental in the future of investment. First Capital Holdings PLC remains dedicated to driving digital excellence, elevating customer experiences, and ensuring that seasoned or new investors can manage their respective portfolios via their smartphones.