ComBank, Ria Financial Services tie up
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Sanath Bandaranayake, Deputy General Manager Operations of
Commercial Bank and Sujoy Kanjilal, Director Operations for
Ria South Asia exchange the agreement. Looking on are (from
left) Commercial Bank Chief Manager e-Banking Pradeep
Banduwansa, Chief Information
Officer Rohan Muttiah and Assistant General Manager
Operations Palitha Perera and Crishantha Herath, Associate
Director of Sales - South Asia of Euroment Software Solutio |
The Commercial Bank of Ceylon has tied up with Ria Financial
Services, the third largest money transfer company in the world,
substantially enhancing its offering in the sphere of remittances. This
paves the way for Sri Lankans to collect from Commercial Bank branches
monies remitted from any of the 140,000 locations of Ria’s global
network in 140 countries on six continents. Some of the locations
covered by Ria’s network include key corridors such as USA, Canada,
Italy, Cyprus, Australia France, UK, Germany, Switzerland, and the
agreement will also open up new corridors for remittance offering, the
bank said.
Commercial Bank commences this service with Ria deploying web service
connectivity using the latest communication technology, becoming the
first to do so in the entire South Asian region for Ria. This unique
system will enable the bank to payout remittances routed from Ria’s
large network of agents on a real time basis and will also enable the
bank to process payments to accounts as well.
As a second step, the bank plans to upgrade its ATM’s for cardless
payments for Ria remittance- beneficiaries who may not be customers of
the bank. Presently, money can be credited to USD/GBP/EUR accounts of
Commercial Bank. This facility would be extended to any bank account in
Sri Lanka shortly, the bank said.
This latest agreement with a global player in the area of money
transfers is a significant further expansion of the remittance services
offered by the bank.
“Strategic ties with global players and a strong and steadily growing
network of branches in Sri Lanka have made Commercial Bank’s offering in
the area of remittances attractive for both remitters and their
beneficiaries,” the bank’s Deputy General Manager Operations Sanath
Bandaranayake said. “Commercial Bank remains committed to further
strengthening its partner network, especially in areas with a large Sri
Lankan expatriate population.”
Commercial Bank operates an extensive network of branches in the
country. More than 10 service points offer 365-day banking for the
convenience of beneficiaries of remittances. The bank also operates a
24-hour Banking Centre in Katunayake.
Founded in 1987, Ria Financial Services is a wholly owned subsidiary
of Euronet Worldwide. |
