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RETAIL BANKING | Cesar Tordesillas, India

Sampath Bank leads the way in fund transfers

Sampath Bank registered the highest outward volume contribution and highest growth rate in SLIPS.

This shows that the bank is leading the way in implementing fund transfer systems which ensures no manual intervention of entries.

The Sri Lanka Inter Bank Payment System is an independent body controlled by the Central Bank of Sri Lanka, through Lanka Clear (Pvt) Ltd. This is the system through which every bank transfers credit to other banks.

The bank has the Sampath Corporate Payment System that allows payments to be executed without any draw backs or any shortcomings.

These transactions are very quick and it takes less than a minute to take effect. SCPS is capable of handling even 1,000 transactions a minute. This is the cheapest and the quickest system of transferring funds.

This is where, a simple data software helps a company to simply enter their information in their own systems where it will be simply transferred to the Banks system and Credit will be debited within a maximum of one day to any banking network, and within the same day to Sampath Bank accounts.

This leaves no room for human errors.

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