In an effort to triple its customer touch points and add unparalleled levels of banking convenience to its valuable customers, Sampath Bank has taken a significant step in the Agent Banking Model by entering an agreement with Sri Lanka’s largest mobile network operator Dialog Axiata PLC to introduce eZ Banking.
With the opening of this new channel, in addition to Sampath Bank’s 229 strong branch network and 400+ ATMs, an additional 1,300+ eZ Cash Merchant outlets will be added to its network, resulting in the highest levels of banking convenience. Through this authorised facility, customers will be able to use this network of eZ Banking agents to make deposits and withdrawals to Sampath Bank accounts.
As eZ Banking agents operate even after normal banking hours in the country, customers with busy lifestyles will be able to eliminate the hassle associated with visiting the branch, while also saving on transport costs.
Speaking on this development, Nanda Fernando - Managing Director, Sampath Bank PLC said, “By adopting the agency model, Sampath Bank’s aim is to serve our customers better by bringing our financial services closer to them. Through eZ Banking, our customers will be able to reap the benefits of convenience and flexibility, regardless of their busy lifestyles. We are confident that this will be a welcome initiative by all our customers, islandwide,”
Aside from the benefits to existing customers, this initiative by Sampath Bank will serve as a catalyst in tackling a socioeconomic issue that has existed in Sri Lanka for many generations. With several underbanked social sections scattered across rural Sri Lanka, eZ Banking will open the doors to financial inclusion across the nation.
Meanwhile, the Bank is expected to benefit from reduced queues in branches, less paperwork and more productive time to invest in customers who come for complex banking transactions, while enabling cross selling opportunities. Ultimately, the Bank will reap the overall benefits of growth in customer base and reduction of operational expenses with routine low value transactions being channelled to this model.
Sampath Bank encourages all customers, the business community that prefers banking in late hours, busy individuals who are unable to bank during working hours and others who are facing difficulties in banking to avail of this new facility and enhance their connectivity with Sampath Bank and financial inclusion as a whole.
Sampath Bank is a 100% local bank that has deeply rooted itself in the lives of the people of Sri Lanka. Established in 1987, the bank has become a state-of-the-art financial institution that continues to be a market leader today thanks to its constant innovation and customer focused approach to business. It has introduced many firsts to the Sri Lankan banking sector including introducing ATMs to Sri Lanka, extended banking hours, slip-less banking and adaptation of block-chain technology to name a few. As part of its visionary 2022 approach, the bank is steadily transforming itself into a ‘tech company engaged in banking,’ from the traditional approach of a bank adopting technology.