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| Sunday, 13 March 2005 |
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| News Business Features Editorial
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BoC, Sampath Bank in ATM Network sharing agreement by Rohan Mathes The Bank of Ceylon (BoC) and Sampath Bank made a great leap forward in the country's banking history by signing the 'ATM Network Sharing Agreement' at the Taj last Thursday. The micro-merger of these banks will provide Automatic Teller Machine (ATM) customers of either bank an enhanced and wider service. BoC General Manager S.N.P. Palihena addressing a media briefing prior to the signing of the agreement said, "in a highly competitive environment of banking operations today, this joint partnershp will in the common interest of our customers, provide a more efficient and speedier service. If the ATM of one bank is malfunctioning, the customer has access to the ATM of the other bank. Both banks save costs by it and this cost savings is enjoyed by its customers as well". He said that BoC and Sampath customers would be able to access their primary savings and current accounts through each other's ATM. Cash withdrawals and balance inquiries could be obtained for their accounts via the network anytime throughout the year. Sampath Bank's Managing Director Anil Amarasuriya said that Sampath Bank which has been in the forefront of the state of the art technology, would blend with BoC's large branch network in ensuring an enhanced service to its customers of both banks. The joint ATM network co-branded as LEAP (Lanka Electronic Access Point), will enable customers of the two banks to access their accounts via any ATM which carries the 'LEAP' logo. "The joint venture has the combined potential of serving ten million customers", he said. Financial services industry sources say that this agreement has paved the way for ATM cardholders of BoC and Sampath to utilise over 200 ATMs for their day-to-day transactions. Around 30,000 transactions are made via Sampath ATMs on an average daily basis. The tie-up will ease congestion and would be of mutual benefit to their valued ATM customers. Through Sampath Bank's extensive real time on-line branch network, BoC customers too will enjoy a host of ATM related services of Sampath. |
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