ComBank innovates with Digital KYC procedure for ‘Flash’ accounts

An innovative video call identity verification feature has been introduced by the Commercial Bank of Ceylon to its ground-breaking digital bank account ‘Flash,’ making it possible for an account to be opened, activated and operated without ever visiting a bank branch.

The unique Digital KYC (Know Your Customer) process allows the bank to remotely complete the customer verification requirements and provide the Flash accountholder full access to all the functions of the activated app. Among these is the linking of other bank accounts, enabling the accountholder to transfer money from an account in another bank to top-up the Flash account with funds, the bank said.

Further simplifying the self-registration process, Commercial Bank now requires those opening a Flash Digital Bank Account to simply fill in a few personal details and upload the specified identification documents via their Flash mobile App. The customer will then be contacted by a bank officervia a video call for the verification and activation of the account.

The winner of the award for the ‘Digital Banking Initiative of the Year’ in Sri Lanka at the 2021 Asian Banking and Finance (ABF) awards, Flash is a comprehensive digital banking app that provides financial services required to manage the lifestyle of a customer across aspects such as daily living and utility expenses, budgeting, saving, financing, eCommerce, environmental awareness, and investments. The app is supported by its own dedicated website – www.flashbank.lk  The Flash Digital Bank Account mobile app is available for download via the Apple App Store, Google Play Store or Huawei AppGallery and offers users anytime anywhere access to a complete suite of financial services and wealth management tools in one seamless application.