DFCC Bank will launch a unique savings proposition for families with the objective of empowering them to build a secure financial foundation in the New Year. This scheme will be launched on the 1st of January and all DFCC’s branches will be open to welcome customers for business as usual. In this interview, DFCC’s Senior Vice President, Consumer Banking, Gillian Edwards, talks about this special offer in detail.
Could you provide an overview of DFCC Bank and how the Bank connects with customers in the retail banking space?
DFCC Bank, with a legacy of over 60 years has grown and evolved in line with the needs of consumers and the economy, and is today, one of the leading Banks in the country. 
Over the years, the Bank has contributed immensely to the nation by funding all sectors of the market, not only meeting financial requirements, but also providing advisory services and guidance in designing and implementing projects. At DFCC, it has been much more than banking as we believe in partnerships, and it is most heartening to note that these relationships have lasted throughout generations. As a fully-fledged commercial bank, following the amalgamation with DFCC Vardhana Bank in 2015, DFCC Bank offers the full range of banking services across all economic sectors and geographies in the country, with sustainable value creation as a core objective.
In terms of retail banking, we offer our retail banking customers an entire range of flexible financial solutions catering to their varying individual needs, be it housing, vehicle, educational or personal loan or credit/debit card. We also have a range of attractive deposit products for the entire family starting from the new born to the senior citizen.  
Moreover, as the digital economy gains more ground in the banking sector, we are focusing on developing digital channels that enables us to provide ease and convenience to customers and further personalize our offerings to a large extent. For example, earlier this year, DFCC launched the Vardhana Virtual Wallet, which is a unique concept and a first in the industry. This revolutionary product offers our retail customers a hassle-free and convenient option to manager their funds, eliminating the need to carry around any other payment instrument. Users can maintain funds in the Virtual Wallet and conduct day-to-day transactions at just the click of a button. 
We will continue to focus on technology and innovation to offer personalized services and convenience to our retail customers whilst also focusing on customer service and nurturing our relationships with them.
What are the plans for the New Year?
We will look at increasing our market share by focusing on new and innovative products and services backed by technology. We will also invest in new channels of delivery with the objective of gradually moving away from brick and mortar structures and reaching out to customers across economic sectors. 
Catering to the future generation will undoubtedly be challenging as banking will happen via electronic and mobile applications, nevertheless we are fully geared to meet these challenges. DFCC also has the advantage of specialization in both development and commercial banking aspects, which sets us apart from our competitors. We will raise our expertise to go beyond traditional boundaries and to cater to new 
business opportunities.
What was the thinking behind the special savings proposition for families?
Our main objective of devising this offer was to inculcate the habit of savings, and what better way to save, than as a family unit? Savings empower people; creating a secure financial future as well as a sound platform to achieve ones financial goals 
in life. 
We believe that families who save together could enrich the financial future of the household. This promotion also holds great significance in encouraging children to model themselves by following the lead of their parents 
in saving.
Further, this offer will be launched on the 1st of January in keeping with the Bank’s tradition of providing its customers with a positive start in the New Year, and customers can walk into any of the DFCC Bank branches on the 1st to avail themselves of this offer. 
What are the unique features 
of this offer?
How it works is that members of a family who open two or more savings accounts with a total deposit of Rs. 25,000 will receive an instant cash reward or DFCC Gift Voucher worth Rs. 1,250, which is redeemable at DSI showrooms or Sarasavi Bookshops 
island-wide. 
Further, as an additional incentive to save for their children, if a deposit of Rs. 25,000 is deposited into a Children’s Savings account, they will receive a cash reward or Gift Voucher valued at Rs. 2,500. The Vardhana Virtual Wallet facility will also be offered on a complimentary basis for all accounts, while Vardhana Garu Saru Senior Citizens will receive a loyalty card free of charge. 
Apart from the rewards mentioned above, we offer concessionary rates of interest on cash backed facilities permitting borrowings up to 100 percent of the deposit value. Account holders whose salaries have been remitted to the bank, as well as new remitters whose salaries will be assigned to the bank, will be entitled to a 100 percent salary advance by way of a loan payable over a period of 12 months. Furthermore customers who use their Vardhana Virtual Wallet at Laughs Super Markets, Sterling flowers and e-channeling will be eligible for a special discount of 10 percent on their purchases.    
How will this add value to customers?
We feel that apart from the rewards, this promotion will add immense value to our customers by helping them save as a unit, thus binding the family together and sharing the responsibility of saving. 
By inculcating this valuable habit, the family unit becomes stronger and more responsible with each member contributing to his or her own financial future.  This proposition also bridges a generational divide as it brings together grandparents, parents and children in a common cause. Strong family values are one of the most endearing traits of our people, a proud tradition and heritage which DFCC Bank is privileged 
in preserving.