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NDB together with the Central Bank launches the National Remittance Mobile Application

11 Feb 2022

National Development Bank PLC recently joined hands with the Central Bank of Sri Lanka (CBSL) to launch the National Remittance Mobile Application “Lanka Remit”.

“Lanka Remit” which was introduced and developed by LankaClear (Pvt) Ltd was launched by the State Minister of Digital Technology Namal Rajapaksa. NDB CEO Dimantha Seneviratne also spoke at the occasion on behalf of all involved banks and financial institutions.

The CBSL is currently taking steps to increase the inflows of foreign remittances to Sri Lanka as well as to encourage the use of formal remittance channels when sending remittances to the country. The “Lanka Remit” National Remittance Mobile Application, provides Sri Lankans working abroad direct access to the existing remittance channels, as well as facilitates their ability to choose more convenient and cost-effective remittance channels to send money to Sri Lanka.

NDB Bank which has been closely working with the CBSL in order to drive the digital inclusion in Sri Lanka will continue to provide the digital services required through its award winning app NDB NEOS as well as other facilities such as NDB NEOS Online, the Bank’s many phygital branches etc… true to its ethos “The Future is Banking with Us”. More than 50% of NDB Bank’s customers became digitally active and since the first Covid-19 wave in 2020, the bank has seen a 400% increase in digital transaction volumes and a 150% growth in total transaction value. In 2020 alone, NDB NEOS recorded a 311% increase in total value of transactions. In 2021, it surpassed the milestone of LKR 100 billion in transaction value with over 100,000 users around the island. The NDB NEOS app has more than 100,000 downloads, signifying the importance of a holistic digital presence in the banking sector.

NDB Bank was awarded the “Best Digital Bank 2021” at the Asiamoney Best Bank Awards for Sri Lanka in addition to being crowned "Sri Lanka’s Best Bank 2021" by the prestigious Global Finance Magazine of USA, and "The Bank of the Year Sri Lanka", by The Banker Magazine UK. NDB is the 4th largest listed bank in Sri Lanka and the parent company of the NDB Group. The only financial services conglomerate in Sri Lanka, NDB Group is uniquely positioned towards assisting the growth and development of the Sri Lankan financial market to provide its customers seamless access to the product and service offerings of all its group companies.