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SDB bank’s new paperless customer onboarding process to offer personal finance and entrepreneurial conveniences

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Further advancing their continuous program of digital transformation, SDB bank is set to introduce an all-new paperless onboarding process in mid-February. This follows the bank’s implementation of a lean, e- signature system for customer loan agreements in late-2020.

SDB bank’s paperless customer onboarding effort will replace their current customer onboarding process which is fully paper-based. The use of digital technology in this key process across the bank’s 94 branches islandwide promises a host of new benefits to their extensive personal customer base, proudly covering people belonging to all walks of life with both small-scale entrepreneurial and personal finance requirements. 

The initiative will afford numerous conveniences and create an improved experience for both customers and staff. The integration of digital technology into the customer onboarding process is parallelly set to enhance efficiency across the bank, improve accuracy of data, offer greater internal controls, plus reduce the cost per customer. 

Each of these advantages to the bank, as part of their digitalization of internal processes, will allow them to facilitate a smooth, modern onboarding experience for all their customers, regardless of where they may be. Whether out in the paddy field, at a construction site, a factory, or anywhere else, the facility allows for anytime, anywhere convenient customer onboarding without the requirement of the customer’s physical presence at the bank. This further strengthens the bank’s reputation as a provider of world-class banking facilities not only in city locales and to high-net-worth individuals, but equally to out-of-Colombo, low & middle income customers. 

As such, SDB bank’s paperless onboarding system is expected to boost personal banking numbers in far-off locales along with signing on of customers displaying small-scale entrepreneurial needs in these areas, ensuring they are connected to the national economy and offering numerous banking conveniences to uplift their entrepreneurial efforts.

Through their emphasis on digital innovation across both internal and external aspects of their banking operation, SDB bank has continued to gain recognition as a digital pacesetter in local banking and a key facilitator of national development, particularly through the modern banking conveniences offered to small-scale entrepreneurs in uplifting the national economy. 



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INSEE Ecocycle to provide waste management solutions for Galle Analytical Lab

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Signatories to the agreement were Mrs. Dharshani Lahandapura, Chairperson and Dr. P.B. Terney Pradeep Kumara, General Manager, MEPA and Sanjeewa Chulakumara, Director of INSEE Ecocycle Lanka (Private) Limited together with senior officials from both organisations

INSEE Ecocycle, the nation’s pioneer in sustainable waste management has joined hands with the Marine Environment Protection Authority (MEPA), the apex body established to prevent, control and manage pollution in Sri Lanka’s marine environment, to provide Sustainable Integrated Waste Management Solution for the MEPA’s Galle analytical laboratory recently.

Prior to the agreement, no sustainable solution for analytical laboratory waste and chemical waste existed in the country. This hazardous waste was accumulated at laboratory premises or due to misconduct, was discharged into the open environment such as drains, soil or natural water streams etc. As a result, possible environmental impacts such as soil acidification or soil alkalization, eradication of aquatic plants and animals, possible ground water contamination, acid rains and ozone depletion could have taken place.

Similarly devastating human health impact such as skin cancers, liver damage, blindness, neurological disorders, adverse pregnancy outcomes and bioaccumulation were also a possibility.

Commenting on the agreement Sanjeewa Chulakumara noted, “INSEE Ecocycle is proud to partner with MEPA for analytical laboratory waste management and we highly appreciate the commitment and the passion of the senior management of MEPA for this collaborative sustainable initiative, which is a great example to other government institutions in the country as well.”

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94% of consumers in APAC considering the use of emerging payment methods: study

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As a result of the pandemic, enthusiasm for a broader range of payment technologies has accelerated in the Asia Pacific region as 94% of people say they will consider using at least one emerging payment method, such as QR codes, digital or mobile wallets, installment plans, cryptocurrencies, biometrics and others, in the coming year. This is according to the Mastercard New Payments Index conducted across 18 markets globally, including India, Australia and Thailand, which reveals that 84% of consumers in APAC already have access to more ways to pay compared to one year ago. Of note for entrepreneurs, 74% of respondents said that they would shop at small businesses with greater frequency if they offered additional payment options.

“Mastercard’s study finds that people in the Asia Pacific region haven’t just adopted new payment technologies—they’ve made deliberate shifts based partly on necessity, but also on considerations around personal safety, security and convenience, at a time when these concerns were paramount,” said Sandeep Malhotra, Executive Vice President, Products & Innovation, Asia Pacific, Mastercard. “Consumers in Asia Pacific have already gained recognition globally for their openness to new technologies and innovation, and these findings confirm that this trend is only set to continue as more digital payment options rapidly become mainstream in this part of the world.”

About Mastercard (NYSE: MA), www.mastercard.comMastercard is a global technology company in the payments industry. Our mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart and accessible. Using secure data and networks, partnerships and passion, our innovations and solutions help individuals, financial institutions, governments and businesses realize their greatest potential. Our decency quotient, or DQ, drives our culture and everything we do inside and outside of our company. With connections across more than 210 countries and territories, we are building a sustainable world that unlocks priceless possibilities for all.

 

 

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ASPI skyrockets to reach 3 ½ weeks high

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Turnover recorded at a healthy level at Rs. 2.7bn

Bourse premiered the week shooting the index remarkably high to reach a 3 ½ weeks top. ASPI displayed a stepped upward trend and surged in the first hour of trading followed by a sideways movement during mid-day and ended with a gradual uptrend to close at 7,350 gaining 122 points.

Turnover was recorded at a healthy level at LKR 2.7Bn powered by the active retail participation. Food, Beverage & Tobacco sector dominated the turnover closely followed by the Capital Goods sector to generate a joint contribution of 50%. Foreign investors remained net sellers while recording low participation.

-First Capital Research

 

 

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