SDB bank Furthers Digital Transformation Drive by Signing MoU with Department for Registration of Persons

Swift to identify continuous opportunities in enhancing the bank's digital transformation efforts, SDB bank recently leveraged the online system for authentication plus verification of NIC details launched by the Department for Registration of Persons (DRP) to streamline its overall customer verification process.

The signing of the MoU which took place on Monday, 8th March, drawing the participation of senior officials from both the DRP and SDB bank, will allow for real-time verification of customer identity by the bank, through the use of the information contained in the DRP's online system with receipt of customers' consent.

The development is set to revamp the conventional customer onboarding process in use across the bank at present, involving multiple forms of verification, and allow SDB bank to realise considerable efficiencies in customer onboarding plus in improving customer experience.

SDB bank's use of a fresh digital customer verification process supported by the DRP-based online system will strengthen the bank's industry-wide reputation as a digital pacesetter, enhance its renowned customer-focused digital banking service, plus boost customer experience for its customers hailing from all walks of life.

SDB bank is a licensed specialized bank regulated by the Central Bank of Sri Lanka, maintaining 94 branches islandwide and over 5000 inter-bank network ATM points, offering a contemporary range of banking plus financial services to its Retail, SME, and Business banking clients. Guided by its maxim 'Where you're valued', plus the bank's reputation as the apex entity in the development banking and SME space, a sector accounting for a substantial 50% of Sri Lanka's total GDP, the bank offers equal support to individual, business-oriented, and development-focused goals, transcending what is purely transactional and valuing each customer for their uniqueness as individuals. The bank's ascendancy as one of Sri Lanka's top-rated modern banks with considerable brand value has been marked by numerous accolades including being placed in the Top-50 in 'Sri Lanka's 100 most valuable brands' list for 2020 by global brand valuation consultancy Brand Finance; in the Top-50 in LMD’s Inaugural Edition of ‘Most Awarded’; and in the coveted ‘LMD 100 - Sri Lanka’s Leading Listed Companies’ for the period 2019/20.