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COMMERCIAL LEASING & FINANCE PLC CONNECTS WITH THE NATIONAL INTERBANK ELECTRONIC FUND TRANSFER NETWORK IN SRI LANKA – LANKAPAY SLIPS
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LankaClear GM /CEO Sunimal Weerasooriya exchanges the SLIPS agreement with Krishan Thilakaratne Director /CEO Commercial Leasing & Finance
Commercial Leasing & Finance PLC (CLC) adds yet another value addition to its innovative product range. Customers of CLC have the distinct advantage of directly transferring funds between CLC and other financial institutions as it joined the Sri Lanka Interbank Payment System (SLIPS) operated by LankaClear. The LankaPay SLIPS electronic money transfer network is a secure electronic payment platform, which connects over 3000 branch locations of all banks and selected non-banking financial institutions providing access to all bank accounts in the country. The network will add significant value to Commercial Leasing & Finance and its customer base as they can now enjoy seamless and efficient means of transacting, resulting in enhanced speeds of doing business.
With LankaPay SLIPS, customers can transact within the same day up to a maximum value of Rs.5 million per transaction. By joining LankaPay SLIPS, members are empowered to offer innovative payment products whilst incurring lesser administration costs and gaining better control over payment realization and enhanced levels of security resulting in increased profitability.
LankaClear General Manager / CEO, Sunimal Weerasooriya, said: “We warmly welcome our newest LankaPay SLIPS member, Commercial Leasing & Finance, as we draw closer and closer to transforming the entirety of the banking and financial services sector into the future of electronic transactions. LankaPay SLIPS form an important link in Sri Lanka’s accelerated path to development. What we are doing effectively empowers the ease and speed of doing business. A fully-integrated banking and financial services sector will yield fantastic rewards to businesses and the general public as they avail of simple yet super-efficient means of transacting ”
Krishan Thilakaratne, Director and Chief Executive Officer of CLC said “Since the addition of Savings and Deposits to our portfolio, we have regularly introduced value additions to our products. The instant fund transfer facility through LankaPay SLIPS network is a yet another value addition offered for the benefit of our customers. We are confident that CLC customers will enjoy this facility and make all financial transactions easier and faster.
Having celebrated its 25th anniversary in 2013, Commercial Leasing & Finance PLC (also known as CLC) is forging ahead to reach new frontiers by adding more values to the existing products and services. CLC has won the hearts of general public, by offering them unmatched security and reliability. Within 26 years of business operations in the country CLC has become a trusted name among rural and urban communities alike. Commercial Leasing & Finance PLC (CLC) was incorporated in 1988 as a Specialized Leasing Company in Sri Lanka. The main product lines of CLC include leasing, hire purchase and loans for vehicles and equipment and factoring. From the year 2012 CLC has added savings and deposit products to its portfolio. Commercial Leasing & Finance PLC is the fourth non-banking financial institution to join the LankaPay network.
LankaClear (Pvt) Limited, one of the country’s most successful public-private partnerships, is Sri Lanka’s national payment infrastructure provider. The company is jointly owned by the Central Bank of Sri Lanka and all Commercial Banks. LankaClear’s product offering include the Cheque Imaging and Truncation System (CITS), Sri Lanka Inter-Bank Payments System (SLIPS), LankaPay Common ATM Switch and LankaSign Certification Service Provider among several other payment system infrastructure offerings.
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