Oct 29, 2021

Customers inconvenienced as DFCC bank implements new system Featured

A large number of customers have been inconvenienced after the DFCC bank has been taking measures to introduce a new core banking system, reports say.
Customers attempting cheque transactions as well as transactions using the real-time fund transfer switch - Common Electronic Fund Transfer Switch (CEFTS) have been inconvenienced after the introduction of the new system has dragged on for days.
Although the bank has put up a brief notice on their website saying customers may experience some delays in banking transactions, it has not elaborated on the potential issues customers may face.

DFCC Bank was Sri Lanka’s pioneer development bank incorporated in 1955 under an Act of Parliament. The proposal to set up DFCC was first presented by the first World Bank mission, which visited the country in 1952. The unique structure that was created at the incorporation of DFCC was designed through a collaborative effort between the Government of Sri Lanka and the World Bank. DFCC became one of the first Development Banks to be instituted in Asia. The bank has expanded to 138 branches island-wide with around 1,500 staff.