An innovative video call identity verification feature has been introduced by the Commercial Bank of Ceylon on its revolutionary “Flash” digital bank account, allowing an account to be opened, activated and managed without ever visiting a branch. banking.
The unique Digital KYC (Know Your Customer) process allows the Bank to fulfill customer verification requirements remotely and provide the Flash account holder with full access to all functions of the activated application. Among these is linking other bank accounts, allowing the account holder to transfer money from an account at another bank to top up the Flash account with funds, the Bank said.
Further simplifying the self-registration process, Commercial Bank now requires those opening a Flash digital bank account to simply fill in a few personal details and upload specified identification documents through their Flash mobile application. The customer will then be contacted by a banking agent via video call for account verification and activation.
Winner of Sri Lanka’s ‘Digital Banking Initiative of the Year’ at the 2021 Asian Banking and Finance (ABF) Awards, Flash is a comprehensive digital banking application that provides the financial services needed to manage a person’s lifestyle. a customer through aspects such as daily life and utility expenses, budgeting, savings, financing, e-commerce, environmental awareness and investments. The application is supported by its own dedicated website – www.flashbank.lk
The Flash Digital Bank Account mobile app is available for download through the Apple App Store, Google Play Store or Huawei App Gallery and provides users anytime, anywhere access to a comprehensive suite of financial services and services. wealth management tools in one seamless application.
In addition to providing the standard banking services required by account holders, Flash offers several innovative features and functions that go beyond day-to-day banking. These include a “Save the Environment” feature that promotes understanding of the social carbon footprint of consumption by evaluating every transaction a user makes through the app; an “Advanced Budget” tab that functions as a personal financial management tool that allows expense tracking with detailed expense categorization; a Quick Response (QR) payment module that allows users to scan a LANKAQR code from any merchant to make payments directly from their accounts to the merchant for purchases, integration with the PickMe QR app; Flash e-statements with payment and itemized e-receipts and receipts for Flash transactions with ability to share via email and WhatsApp; “JustPay” which allows customers to add any bank account to top up Flash and make payments, and “My Payees” and “My Billers” functions in the homepage menu with recent models of beneficiary and supplier of invoices.
Additionally, Flash is equipped with a ‘Flash Finance SPACE’ feature that generates applications for personal loans, home loans, leasing facilities and education loans. Flash allows its clients to invest their money in fixed deposits for a higher interest return. Additionally, Flash allows customers to apply for health insurance coverage through Fairfirst Insurance with many options, providing higher benefits, allowing customers to seek the most suitable choice for themselves and their families.
Commercial Bank is Sri Lanka’s first 100% carbon neutral bank, the first Sri Lankan bank to be listed among the World’s Top 1000 Banks and the only Sri Lankan bank to be so listed for 11 consecutive years. It is the largest lender to the SME sector in Sri Lanka and a leader in digital innovation in the country’s banking sector. The Bank’s overseas operations include Bangladesh, where the Bank operates 19 outlets; the Maldives, where the Bank has a fully-fledged Tier I bank with a majority stake, and Myanmar, where it has a microfinance company in Nay Pyi Taw.