DFCC Bank PLC has chosen the field of technology based banking using information technology and electronic funds transfer system of modern banking development Executive Director and Deputy Chief Executive Officer of the Bank, Lakshman Silva revealed.
The bank is now offering innovative financial products opening internet and mobile banking channel, and help improve efficiencies and reduce costs involved in catering to customers in urban, rural and semi-urban areas, he said.
Mr.Silva who counts around 30 years experience in development and commercial banking noted thatDFCC Bank PLC offers a wide range of products and services including development banking, commercial banking and personal financial service facilities with commitment simplicity and convenience.
On reaching the 60-year milestone, DFCC Bank and DFCC Vardhana Bank (DVB) linked together to become a vibrant new commercial bank, one that aims to serve its customers with not just a wider range of products, but financial solutions as well, he disclosed.
In this endeavor, the bank introduced new family savings scheme during a month long Sinhala and Tamil New Year festive period commencing from the 1st of April to 30th of April this year.
After six decades of nurturing small and medium businesses to become leading enterprises in their respective sectors, DFCC Bank is now focusing attention on micro (small) enterprise sector providing loans, leases and bank guarantees, under a one-stop financial solution with necessary expertise and constant monitoring to uplift their businesses, he disclosed.
This scheme titled”Vardhana Sahaya” is being implemented on par with the government’s ‘Swashakthi loan to support small enterprises.
While providing loans as a participating financial institution in the Swashakthi credit line, DFCC Bank will grant loans to small enterprises under Vardhana Sahaya as well, he said.
DFCC is also focusing on developing digital channels for the ease and convenience of customers through the launching of Vardhana Virtual Wallet, which is a unique concept and a first in the industry; he said adding that it offers bank’s customers a hassle-free and convenient option to manage their funds, eliminating the need to carry cash or plastic cards.
The Vardhana Virtual Wallet has now been upgraded to extend its use to non DFCC Bank customers as well.
Once registered and upon downloading the app from the Apple iStore or Google Playstore, the individual user can top up funds at selected merchant outlets or receive funds from existing DFCC Vardhana Virtual Wallet users.
The app can then be used to purchase goods and services at merchant points or at online stores, pay utility bills, and send and receive money anywhere, anytime.
It also helps users to manage and organise their finances efficiently, as their bank accounts are linked to the app, enabling them to move funds between wallet and account. This enables them to enjoy new levels of financial freedom and flexibility, he said.
Referring to DFCC’s Lanka Money Transfer (LMT) service, he said that this remittance service allows customers, both the sender and receiver to transfer money with ease, using the banks that they trust.
DFCC Bank PLC is honouring senior citizens by implementing ‘Vardhana Garusaru', a senior citizens' Savings Account, the first of its kind, he said adding that senior citizens over 55 years of age, can deposit Rs. 10,000 to enjoy a premium interest, which is 3.5 percent greater than the rate offered on normal savings accounts.
The Bank’s Vardhana Junior, children's savings account has been specially designed by the bank with a number of unique benefits to provide ease of mind to parents who want to ensure their child's financial security. Some benefits available are linked specifically to providing access to greater levels of education for children, he pointed out.