NDB with CB launches national remittance mobile application

NDB CEO Dimantha Seneviratne also spoke at the occasion on behalf of all involved banks and financial institutions

National Development Bank PLC (NDB) recently joined hands with the Central Bank of Sri Lanka (CBSL) to launch the national remittance mobile application Lanka Remit.

Lanka Remit, which was introduced and developed by LankaClear (Pvt.) Ltd, was launched by Digital Technology State Minister Namal Rajapaksa. NDB CEO Dimantha Seneviratne also spoke at the occasion on behalf of all involved banks and financial institutions.

The CBSL is currently taking steps to increase the inflows of foreign remittances to Sri Lanka as well as to encourage the use of formal remittance channels when sending remittances to the country. The Lanka Remit national remittance mobile application provides Sri Lankans working abroad direct access to the existing remittance channels as well as facilitates their ability to choose more convenient and cost-effective remittance channels to send money to Sri Lanka.

NDB Bank, which has been closely working with the CBSL in order to drive the digital inclusion in Sri Lanka, will continue to provide the digital services required through its award-winning app NDB NEOS as well as other facilities such as NDB NEOS Online, the bank’s many phygital branches, etc. true to its ethos ‘The Future is Banking with Us’.

More than 50 percent of NDB Bank’s customers became digitally active and since the first COVID-19 wave in 2020, the bank has seen a 400 percent increase in digital transaction volumes and a 150 percent growth in total transaction value. In 2020 alone, NDB NEOS recorded a 311 percent increase in total value of transactions. In 2021, it surpassed the milestone of Rs.100 billion in transaction value with over 100,000 users around the island. The NDB NEOS app has more than 100,000 downloads, signifying the importance of a holistic digital presence in the banking sector.