DFCC Bank the first to digital onboard customers non face to face using video verification and information from department of registration of persons database to support its sustainability strategy of going paperless
June 15, 2021
Further reiterating its market position as one of Sri Lanka’s most customer-centric & digitally enabled financial institutions, DFCC Bank moves forward by implementing the non-face to face onboarding process based on the guidelines issued by central bank and accessing the database of department of registration of persons to verify customer national identity card information. The process was implemented in May 2021 and many customers since have been onboarded. This initiative was timely as well with the present outbreak of Covid-19 phase 3 and minimises the risk of spread or contagion since customers can onboard from the safety of their home using any device of their choice.
The recently introduced its Non Face to Face (NF2F) digital account opening process which includes video verification using the “DFCC Video Chatz “ video banking service hosted on the bank’s cutting edge trilingual website. Resulting from the recent guidelines issued by the Central Bank of Sri Lanka (CBSL), DFCC Bank has developed this fully integrated and seamless customer onboarding process which allows customers to open accounts digitally online without having to step into the bank branch anytime from any place .The National Identification Card (NIC) data stored in the Department for Registration of Persons’ (DRP) system is integrated to facilitate this seamless process digitally and offer customers the convenience to open Savings Accounts, Foreign Currency (FCY) Accounts, Fixed Deposit (FD) accounts and Special Deposit Accounts (SDA) virtually. Following this process the applicant will be able to choose a convenient time for a video call with the bank representative for the verification process to take place to fulfill CBSL guidelines on the e-KYC process.
In addition to driving greater customer convenience which enables customers to open accounts in the comfort of their home or office, this initiative also supports one of the banks sustainability strategies of to moving towards a paperless and eco-friendly environment.
Sharing his thoughts in relations to Non face to face customer onboarding (NF2F) DFCC Bank CEO, Mr. Lakshman Silva had this to say. “In an era where digital transformation is something that the banking industry is now embracing the Non face to face (NF2F) facility offers customers the utmost convenience they have never experienced before. As we are at the forefront of technological innovation, our solution will certainly be recognized as a benchmark in the industry. The launch of the NF2F facility further reiterates the banks position of become one of Sri Lanka’s most customer centric & digitally enabled bank. The user-friendly interface means that customers are given the option to open accounts by completing the online form from any device, including smart phones, tablets, and desktop computers. Therefore this platform offered convenience of opening an account at their preferred branch, without ever having to visit the branch in person.”
DFCC Bank accounts which can be opened through this state of the art Digital onboarding feature include Winner Savings Accounts, Extreme Money Market Accounts, Float Money Market Accounts, Supreme Vasi Savings Accounts, Mega Bonus Savings Accounts, Garusaru Savings Accounts, SDA Normal Savings with FDs, SDA Supreme Vasi Savings with FDs and SDA Extreme Money Market Savings with FDs.
In terms of Foreign currency accounts , this facility allows for Personal FCY Accounts, FCY SDA Savings Accounts with FDs, FCY SDA Supreme Vasi Savings with FDs and FCY SDA Extreme Money Market with FDs as well. Permitted currencies in which these FCY accounts may be maintained include USD, GBP, JPY, CHF, CAD, AUD, SGD, EUR and CNY.
About DFCC Bank
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, 2021. DFCC Bank is rated [SL] AA- Stable by ICRA Lanka Limited and A+ (lka) Stable by Fitch Ratings Lanka Limited.