Banks slow to adopt e-technology still - ICTA

Sri Lankan banking sector should focus more on transferring funds via technology such as e-banking, Short Message System (SMS) and e-cash, an expert said.

Today, fund transaction and bill payments could be done via a simple SMS, Information and Communication Technology Agency (ICTA) Technology Head and Chief Software Architect, Sanjaya Karunasena told the 28th National Information Technology Conference (NITC) yesterday.

"There are two approaches of fund transfers such as through service providers and through banks. However, service providers do not like to take a risk and not many bankers have also taken a risk in transferring funds with this technology. The banks that have allowed fund transfers via e-banking, SMS and e-cash is also limited within the same banking network," Karunasena said.

"These should be enabled through banks and offer the public to select the bank of their choice. Fund transfers via technology benefits customers as it is easier to pay everyday utility bills, saves time and travelling expenses," Karunasena said.

If a customer loses a phone it is much secure as when the customer informs the particular bank about the loss of the mobile. All Personal Identification Numbers (PINs) will be blocked. E-cash is much secure in all aspects unlike carrying money.

Bank of Ceylon (BoC) is aggressively looking at these gains and as a State bank their progress in the use of IT is commendable, he said.

Providing access and the price of connectivity to the public were the key challenges, but country could overcome and adopt to the situation through more public and private partnerships, he said.

Sri Lankan banking industry plays a vital role in stabilizing the country's economy.

The banking sector could adopt these advantages of the IT industry to offer a better service and accountability for its customers.

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