People’s Bank gets two int’l awards | Daily News

People’s Bank gets two int’l awards

People’s Bank was recently bestowed with two prominent awards on the global banking platform. The first prestigious award as the ‘Best Retail Bank in Sri Lanka’, Digital Bank in Sri Lanka’ and ‘The Most Improved Retail Bank in Asia Pacific, Middle East and Africa’ was bestowed on People’s Bank at The Asian Banker International Excellence in Retail Financial Services Awards 2019, held in Dubai, UAE. The Asian Banker International Excellence in Retail Financial Services Awards 2019 was instituted to recognize the pursuit of excellence amongst retail financial institutions.

People’s Bank was selected from amongst more than 300 banks and non-bank retail financial services players in more than 42 countries via a rigorous audit-based approach. The Asian Banker is the region’s most authoritative provider of strategic business intelligence to the financial services community.

The second impressive accolade is the ‘Best Digital Bank’ award by Asiamoney Best Bank Awards 2019, held recently, which selected People’s Bank as the ‘Best Digital Bank’ in Sri Lanka. Asiamoney identifies People’s Bank as having excelled across a range of core banking activities over the past 12 months.

Former CEO/ GM People’s Bank, N. Vasantha Kumar said, “These awards are a clear validation of our retail and digital thrust, which has brought the bank to the forefront of technology innovation in Sri Lanka. People’s Bank’s digital drive and its fin-tech products have revolutionized the way Sri Lankans conduct financial transactions. These impressive awards only encourage us to continue our efforts to bring convenience and technology offerings to simplify and speed up financial transactions for the people of Sri Lanka, while being lauded on the global stage.”

While evaluating People’s Bank for the award, The Asian Banker’s panel of judges noted the Bank’s significant growth in retail deposits and revenue in 2018 as it made strides in automating workflows and improving customer experiences.

People’s Bank has also made rapid strides in automating workflows, with nearly 100% of its retail banking workflow processes have been automated, up from around 80% in 2017.

While assessing People’s Bank as ‘Best Digital Bank’, Euromoney editors evaluated the fact that despite being a state bank, it has invested extensively in digital, having established 136 digital branches across the country, staffed by 500 digital agents, serving 165,000 digital customers.

Demonstrating the benefits of digitalization, People’ Bank is able to open a digital bank account in just five minutes (down from two or three days previously) and to issue and activate debit cards in mere seconds.


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