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People’s Bank continues cutting-edge digital initiatives revolutionizing services 

May 22, Colombo (LNW):People’s Bank 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 digitalisation strategy, People’s Bank has already introduced several innovative solutions that focus on enhancing the accessibility and convenience afforded to customers across the country.

People’s Bank has revolutionised 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 enrolment, 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.

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.

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 comatibility 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. 

 People’s Bank Chairman Sujeewa Rajapakse commenting on the digital initiatives said: “In line with the 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.” People’s Bank CEO/GM Clive Fonseka commenting on the bank’s digital banking achievements said: “The adoption of digital technologies has greatly revolutionised accessibility and convenience for Sri Lankan consumers

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