People’s Bank rings opening bell at CSE
People’s Bank ringing the market opening bell at the Colombo Stock Exchange (CSE) marked a significant milestone in the Bank’s digital transformation journey, celebrating its pioneering partnership with Lanka Securities (Pvt) Ltd (LSL) to integrate share trading facilities into its flagship mobile wallet application, People’s Pay.
This landmark initiative enables customers to access banking and equity trading services through a single digital platform, bringing banking, investment management and share trading together in a seamless and convenient digital experience.
Through this integration, People’s Pay users can transfer funds between their bank accounts and Central Depository System (CDS) accounts, open new CDS accounts with Lanka Securities, view their investment portfolios alongside their bank balances, and manage equity transactions through the same application. The initiative simplifies access to investment services while enhancing customer convenience through digital technology.
People’s Bank Chairman Chandana Guniyangoda said, “People’s Bank remains committed to supporting Sri Lanka’s economic progress through innovation and digital transformation. This initiative, aligned with the Government’s digitalisation agenda, brings banking and investment services together on a single platform, promoting greater accessibility and financial inclusion.”
People’s Bank Chief Executive Officer/General Manager Clive Fonseka said, “People’s Bank has always been at the forefront of taking the digital banking benefits to the masses with introduction of true value features.
The integration is yet another milestone in that journey. Through our partnership with Lanka Securities, we are enhancing customer convenience and expanding access to investment opportunities through a seamless, integrated digital experience.”
Colombo Stock Exchange Chief Executive Officer Rajeeva Bandaranaike said “This partnership demonstrates what can be achieved through collaboration between stakeholders in the capital market. Wider participation deepens market liquidity and channels more savings into productive investment, which ultimately supports Sri Lanka’s economic growth. We congratulate People’s Bank and Lanka Securities on this milestone.”Lanka Securities Managing Director Kosala Gamage said, “Our partnership with People’s Bank combines our expertise to make equity investment more accessible and convenient. By integrating banking and share trading through People’s Pay, we aim to encourage wider participation in Sri Lanka’s capital market.”
Source: Daily News