The Commercial Bank of Ceylon won five awards at the 2018 Technovation Awards for its contribution, as a participating bank, to the national payment network.
The Bank won the Gold award as ‘Best Acquirer on LankaPay Online Payment Platform,’ the Silver award for ‘Most Innovative Bank of the Year’ and three Merit awards for ‘Overall excellence in interbank payments,’ ‘Bank of the Year for Excellence in Customer Convenience’ and ‘Bank of the Year for Financial Inclusivity.’ The award for Best Acquirer on the Online Payment Platform was based on transaction acquiring volume, the number of payment options enabled to institutions such as the Department of Inland Revenue and Customs, and aggressiveness in the joining process for the Common Electronic Fund Transfer Switch (CEFTS) operated by LankaPay.
The Most Innovative Bank of the Year award recognised the highest aggregate payment innovations providers for CEFTS scenarios, channels availability (ATM, over-the-counter, Internet Banking, Mobile Application etc.) and the volumes achieved under each channel.