Cargills Bank tops Rs.5bn worth of transactions through supermarket banking
Cargills Bank has achieved Rs.5 billion worth of transactions through the Cargills Cash supermarket banking platform it established with the Cargills Food City (CFC) network.
“Our biggest strength is the tie up with the CFC network, which gives the bank a unique approach to convenience, an unmatched proposition in the market.
The bond between Cargills Bank and the CFC network has immensely helped us to achieve this record-breaking milestone,” Cargills Bank Retail Banking Head Buddhika Perera said.
Cargills Cash, a mobile-based solution implemented for Cargills Bank customers, through CFCS provides four basic banking functions – deposits, withdrawals, cash transfers and purchasing goods from CFCS and settling from Cargills Bank accounts, besides all other functionalities a normal bank does, from fund transfers to payment of utility bills.
The achievement has moved Cargills Bank to reward five of its loyal customers, who have used Cargills Cash at CFCS as a channel to do banking transactions, including the customer who made the deposit to take the total deposit value to Rs.5 billion; the bank’s key stakeholders have awarded each winner a Rs.10,000 pay order.
Assuring the platform is secure, Perera said, “After much research and analysis, the Cargills Cash app was developed to be the most secured platform that a customer could use. Cargills Bank has enabled IBM’S cognitive cyber security solutions to enhance the existing cyber defensive capabilities.” “We have also enabled improved monitoring systems while implementing stronger preventive protocols against sophisticated incidents.”
Cargills Bank has also deployed officials in 30 outlets covering most provinces in Sri Lanka, thus the new customers can open accounts at the very CFC outlets.
From the moment this application was introduced to customers, Cargills Bank has got an “excellent feedback from them as it has made life convenient for them by banking with Cargills Cash”, Perera said.
The bank is also witnessing enterprises in the cooperate sector lining up to join hands with the bank, seeing a positive value proposition of the service.