The Commercial Bank of Ceylon won the Gold award as the ‘Best Common ATM Enabler of the Year’ at the 2022 LankaPay Technnovation Awards that recognise frontrunners of payment technology innovation in the country.
The Gold award was presented to Commercial Bank in recognition of the Bank’s achievement of being the ATM acquirer with the highest of growth volume per ATM compared to the previous year, facilitating the highest ATM transactions as the card issuer and recording the least scheduled and unscheduled bin downtime. The Bank’s entire ATM network is equipped to accept LankaPay cards and is connected to the common ATM switch (CAS).
The Bank also won three Silver Awards for ‘Best Bank for Retail Payments,’ ‘Most Innovative Bank of the Year’ and ‘Best Acquirer on LankaPay Online Payment Platform’ as well as the Merit Award for ‘Overall Excellence in Interbank Digital Payments’ at the fourth edition of this event.
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 programme.
Organised by LankaClear (Pvt) 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 Licensed 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.
Sri Lanka’s first 100% carbon neutral bank, the first Sri Lankan bank to be listed among the Top 1000 Banks of the World and the only Sri Lankan bank to be so listed for 11 years consecutively, Commercial Bank operates a network of 268 branches and 938 automated machines in Sri Lanka. Commercial Bank is the largest lender to Sri Lanka’s SME sector and is a leader in digital innovation in the country’s Banking sector. The Bank’s overseas operations encompass Bangladesh, where the Bank operates 19 outlets; Myanmar, where it has a Microfinance company in Nay Pyi Taw; and the Maldives, where the Bank has a fully-fledged Tier I Bank with a majority stake.