DFCC Bank streamlines customer verification process through MoU signed with the Department for Registration of Persons
April 30, 2021
In an effort to optimize its overall customer verification process while developing the Country through the carefully planned digital road map put forward by the Government of Sri Lanka (GoSL), DFCC Bank recently signed an MoU with the Department for Registration of Persons (DRP).
This MoU allows for DFCC Bank to make use of the online system for authentication plus verification of NIC details launched by the DRP to streamline the bank’s overall customer verification process. The new system will enable DFCC Bank to conduct real-time verification of customer identity through the use of the information contained in the DRP’s online system, provided that the customer provides their consent.
Digitalizing this process will enable DFCC Bank to obtain accurate customer identification data in a timely manner. As identity information is an essential component of the banking function, capturing this data accurately is of paramount importance to DFCC Bank.
Once the customer provides consent, this MoU allows for DFCC Bank to view data and images of documents related to the NIC submitted by any customer in order to verify the authenticity of the particulars of the NIC, of the person who intends to obtain DFCC Banking services.
For DFCC Bank, this means that their customers will no longer have to visit bank branches and fill physical forms to open accounts or obtain other DFCC Bank services. Instead, the entire onboarding process can now shift to a digital platform which is expected to increase levels of efficiency while improving customer convenience.
Standing tall as one of the most digitally enabled banks in the country, DFCC Bank’s quick adoption of this industry-wide solution developed in accordance with the requirement of the Central Bank of Sri Lanka (CBSL) is a testament to this. As the Bank continues down the pathway of relentless digitalization, its customers will certainly welcome the ability to bank with more ease than ever before.
DFCC Bank is a full-service Commercial Bank with a legacy of 65 years as one of Sri Lanka’s foremost financial conglomerates offers a gamut of commercial and development banking services. The Bank was ranked amongst Business Today’s Top 30 Corporates in Sri Lanka and was also positioned amongst Brand Finance’s Top 100 Most Valuable Brands, 2020. DFCC Bank is rated [SL] AA- Stable by ICRA Lanka Limited and A+ (lka) Stable by Fitch Ratings Lanka Limited.
Exchanging the signed MOU by Mr Achintha Hewanayake, Chief Operating Officer DFCC Bank (4th from left) with Mr P.V. Gunathilake, Commissioner General- Department for Registration (5th from left) flanked by the officials of DFCC Bank and the Department of registrations.