Investors to engage in IPOs and equity transactions in seamless manner

By Nishel Fernando
Four banks are set to offer seamless internet banking transactions to all investors to engage in Initial Public Offerings (IPOs) and equity transactions through the successful integration of   the “Central Depository System” (CDS) with LankaPay Online Payment Platform.
“I  am delighted and excited to announce that the team of LankaPay has successfully integrated the “Central Depository System” (CDS) with LankaPay Online Payment Platform, marking a significant milestone in investment banking,” LankaPay  Chairman Kenneth De Zilwa shared in a social media post  recently.
The pilot transaction was successfully conducted with Cargills Bank PLC recently. De Zilwa highlighted that this integration has given the country’s banking industry the opportunity to reach global investors. 

The new payment service is an electronic IPO and e-rights payment service enabled via the CSE Mobile App and CDS Web Portal, enabling investors to make payments from the comfort of their homes or offices. This has eliminated the need for physical visits to banks or other financial institutions.
According to CSE,  the new payment platform  enables investors the ease of investing in IPO’s and rights issues up to a transaction value of Rs. 10 million , as approved by the Central Bank.
Apart from Cargills Bank, De Zilwa revealed that  Sampath Bank , Commercial Bank PLC, and Pan Asia Banking Corporation PLC are on the track to join  the system by the end of this month.
“I am looking forward to sharing more exciting news for Sri Lanka’s investment banking industry soon, as we link our digital signatures with Global markets,” he added.
The new platform was materialized after Colombo Stock Exchange (CSE) subsidiary Central Depository Systems (CDS) entered into an agreement with LankaPay to facilitate this seamless and secure payment experience for investors.