Bank of Ceylon becomes first bank to install 150th CDM
The Bank of Ceylon (BOC) becomes the first ever bank to expand its Cash Deposit Machines (CDMS) network up to 150 machines becoming the largest CDM network provider in the country by opening its 150th CDM machine in Kochchikade on 6th November 2017.
With this installation the total ATM/CDM network now counts over 930 machines that provide seamless banking transactions 24x7. As a part of the bank’s continuous digitization process in order to facilitate customers with banking at their convenience, BOC will expand its CDM network to every nook and corner of the country.hes Te Smartzones will consist of ATMS, CDMS and online banking facility enabling customers to transact at any time they want through well secured and trusted digital systems.
Pioneering the digitization of the banking landscape in Sri Lanka, BOC was the first to introduce and popularize many new technologies among Sri Lankans. Currently the bank is the largest single network connected to ‘Lankapay’ common ATM platform in the country with 786 of BOC’S own ATMS. “We strategically look into cover in key pockets of the country, we try to provide many of our customers economical, convenient and seamless banking solutions and we have made sure to roll out our CDM network to other parts of the country too. Another objective the bank has fulfilled was to take the latest banking technology over the boundaries of Colombo and its suburbs to other areas of the country,” stated BOC Sales and Channel Management Deputy General Manager Senarath Bandara.
With these new feature-filled Cash Deposit Machines, customers can instantly deposit cash straight into their BOC account to be credited on real time without an additional charge. Unlike many cash deposit machines which require money to be fed into the machine note by note or be inserted into an envelope, this machine allows customers to place a total bundle of 200 notes in a mix of any denomination in a single transaction. This machine also accepts deposits made by ATM cards or fund transfers made by simply keying debit account and the credit account numbers as per instruction displayed on CDMS graphic screen. Currently the maximum deposit value using an ATM card for a customer’s own account is set to one million Rupees and cash deposits to one’s own account or third party is set to Rs.200,000. Coming up with innovative ways and means to enrich the lives of the bank’s diverse customer base, the bank looks forward to extend this facility further within the branch network that is spread across the country. Operating these CDMS are made easy as all simple steps that need to be followed are displayed on the machine’s graphic screen guiding the customer step-by-step till the end of the process. The customers will receive a detailed mini-statement once the transaction is completed. If customers prefer to make the transaction completely paperless this CDM gives the customer the opportunity to activate an SMS alert to be received to a given mobile number.