Revolutionizing Accessibility and Convenience for Sri Lankan Consumers
People’s Bank, renowned as the Pride of the Nation, continues to set industry benchmarks with its cutting-edge digital initiatives designed to enhance customer experiences and cater to their evolving needs. As part of its robust digitalization strategy, People’s Bank has already introduced several innovative solutions that focus on enhancing the accessibility and convenience afforded to customers across the country.
Innovative Digital Account Onboarding
People’s Bank has revolutionized digital onboarding with its “People’s Wiz” Account Opening system, becoming the first bank in the region to offer real-time digital customer onboarding. This comprehensive platform allows customers to open accounts instantly across any of their branches, along with value added features and facilities such as mobile app registration, SMS alert activation, e-statement access, debit card enrollment, and cardless cash withdrawals.
Building on this innovation, “People’s eZE Accounts” is another recently introduced services that enables virtual account opening through E-KYC and V-KYC processes which is integrated in real-time with the Department for Registration of Persons and eliminating the necessity for physical visits to bank branches.
Enhanced Loan Processing Systems
Taking the virtual account opening one step further, the bank recently introduced “People’s eZE Credit” which enables the customers to apply for personal loans online. This solution allows customers to apply for loans remotely via the People’s bank corporate website, without the need for in-person visits.
In addition, the Retail Loan Origination System (RLOS) allows for rapid processing of personal loans, significantly enhancing client satisfaction by reducing wait times. Similarly, the Corporate Loan Origination System (CLOS) has been tailored to efficiently structure and disburse business loans.
Mobile Banking Solutions and Financial Inclusion
The People’s Wave Mobile app, with over 2.3 million registered users, is a clear leader in digital Banking in Sri Lanka, providing over 50 banking features and achieving significant financial inclusivity with more than 80% of its users located outside the Western Province.
Further enhancing the digital payment landscape, the People’s Pay Wallet App and People’s Pay-Merchant Module have been instrumental in promoting cashless transactions. These platforms support multiple QR standards including LankaQR, Visa QR, and UPI QR, ensuring broad compatibility and security.
People’s Bank is offering multiple digital banking solutions to business users as well. People’s WYN Mobile app and People’s Web Corporate internet banking cater to corporate clients, providing remote banking services and ensuring efficiency and security.
Leadership Insight
Mr. Sujeewa Rajapakse, Chairman of People’s Bank, commenting on the digital initiatives, stated “In line with ethe government’s drive to leverage digital technology to enhance financial inclusivity and economic prosperity, we have made a serious commitment to be the undisputed leader in digital banking in Sri Lanka.”
Mr. Clive Fonseka, CEO/GM of People’s Bank, commenting on the bank’s digital banking achievements stated “The adoption of digital technologies has greatly revolutionized accessibility and convenience for Sri Lankan consumers. It has also enhanced our internal operational efficiencies which allows us to pass down those benefits to our customers and the country as a whole”.
Customer Support and Education
The launch of “People’s Zen,” an advanced chatbot service, exemplifies People’s Bank’s commitment to customer service, providing 24/7 support and enabling customers to perform transactions and receive assistance seamlessly.
To further support its digital drive, People’s Bank leverages social media platforms to enhance digital literacy among consumers through educational videos, articles, and collaborations with influencers. These initiatives are part of the bank’s broader mission to foster positive change and prepare future generations for success in a digital-first world.
