BOC partners Sri Lanka Post to revolutionise banking access
- 5opn1
- December 6, 2024
- Banking and Financial
- BOC partners Sri Lanka Post to revolutionise banking access
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The Bank of Ceylon (BOC) and Sri Lanka Post have entered a ground-breaking partnership to reshape the accessibility of banking services across Sri Lanka.
By combining the banking expertise of BOC with Sri Lanka Post’s extensive network, initially with 100 post and sub-post offices, this initiative aims to bring essential financial services to the nation’s most underserved communities.
The centrepiece of this initiative is BOC Connect, a forward-thinking agent banking model first introduced in 2021. Now integrated with Sri Lanka Post’s trusted network, it brings everyday banking, such as deposits, withdrawals, bill payments, and fund transfers, closer to people’s homes.
This expansion significantly reduces travel time and costs for rural communities while offering an environmentally sustainable approach to financial transactions.The dual-authentication mechanism of BOC Connect ensures a secure and seamless experience.
Transactions are verified using one-time passwords (OTPs) sent to customers’ mobile devices, alongside National Identity Card (NIC) checks. This modernised approach simplifies ban
