BoC to launch 24 hour banking

Sanjeevi JAYASURIYA

The Bank of Ceylon (BoC) will be positioned as a service hub focusing on the supermarket bank concept to provide customer centric service.

"We are introducing 24 hour banking service to include limited banking services with plans to expand the service scope to include normal banking activities in the near future. We expect that this landmark step will provide a cue for other banking institutes to follow," Bank of Ceylon (BoC) Chairman Dr Gamini Wickramasinghe told Daily News Business.

We need to change the way we do business and this measure will be a trend setter. The 24 hour service will be expanded to other big cities including Kandy and Hambantota shortly. This service was first introduced in the travel office at the Personal Branch in the Head Office. With the popularity the unit will be converted into a bank that provides the complete range of services, he said.

The customers are offered banking services blended with agency post office services. The range of services include limited banking services, foreign draft encashment, web based encashment, issuance and encashment of travellers cheques, issuing postal and money orders, issuance of stamps and aerograms in the delivery of postal, travel and banking services. The trade finance operations also will be provided with plans to upgrade the system of information technology.

The bank assurance facility will be promoted through service provided by the bank. The BoC hopes to make an indirect change in small and medium size companies as it offers services at extended hours. This business flexibility will enable these companies to avoid unnecessary delays and also to increase the level of production.

The 24 hour facility will be introduced targeting sectors such as farming, fisheries and tourism where most of the activities are concentrated.

The tourism industry growth will provide an impetus for the banking industry to progress and the bank will capitalize on this trend in offering facilities to tourists. The BoC will introduce the full gamut of their services in time to come in the 24 hour service units in major cities.

"We need to make people be aware of the service facilities offered by the bank. It is important to patronize these facilities as it provides convenient and easy access. The bank will also aim to improve product quality and to offer an efficient customer service," Dr Wickramasinghe said.