Cargills Bank has revoloutionised the digital banking sphere within a short period of time and it recently broke another record by achieving R.5 Billion worth of transactions which the customers have made using this remarkable supermarket banking platform.
To reward its loyal customers, Cargills Bank has selected five customers who have used Cargills Cash at Cargills Food City as a channel to do banking transactions, including the customer who made the deposit to take the total deposit value to Rs. 5 Billion. Each winner was awarded with a Rs. 10,000 pay order by key stake holders of Cargills Bank.
Mr. BuddhikaPerera (Head of Retail Banking) explained and shared his views on Cargills Cash, its benefits and the future plans stored for its customers with the use of this platform.
Can you give us an introduction to, Cargills Cash?
A. Cargills Cash is a mobile based solution implemented for our customers providing them with four basic banking functions through the Cargills Food City (CFC) network. With Cargills Bank, banking is now made easy as downloading an app on your mobile device.
The services offered through Cargills Cash include deposits, withdrawals and purchases from any Cargills Food City outlet where customers can pay through this service and transfer cash enabling a user to send cash to any person in Sri Lanka with a valid Identity Card and a mobile phone.
What made Cargills Bank to initiate this service to its customers?
A. In line to our core objective ‘banking on the human spirit’, this mobile platform was implemented with a vision of banking with a different approach to reach our customers. Our biggest strength is the tie up with the Cargills Food City (CFC) network. This tie up with CFC and the Bank gives a unique approach to convenience. It is an unmatched proposition in the market. Apart from these facilities the mobile banking platform has all other functionalities which a normal bank does, from fund transfers to the payment of utility bills.
To whom does this service cater to and how has it made life convenient for regular shoppers?
Cargills Bank has been at the forefront of offering timely and user-oriented banking products since we entered the banking sector. To increase customer convenience and facilitate their requirements, Cargills Bank has deployed officials in 30 outlets covering most provinces in Sri Lanka, where new customers can open accounts at the CFC outlets itself. Within few minutes our representatives will assist our customers to open an account instantly.
These locations include Cargills Food City Outlets in Staple Street, Kaluthara, Nawala, Kegalle, Kirulapone, Gampaha, Mount Lavinia, Jawatte, Pelawatte, Dambulla, Ambalangoda, Batticalo, Matale and Puttalam. We invite our customers to enjoy the convenience of this platform provided within the CFC group.
Can you explain how secure these transactions are?
As a bank our core objective is to ensure that not only the transactions are very secure but our customers also feel secured. After much research and analysis the Cargills Cash app was developed to be the most secured platform that a customer could use. Cargills Bank has enabled IBM’s cognitive cyber security solutions to enhance existing cyber defensive capabilities. We have also enabled improved monitoring systems while implementing stronger preventive protocols against sophisticated incidents.
Transactions are secured by two factor authentications, enabling the customer to engage in verified transactions through their mobile devices. The exceptional feature of this service is its accessibility, as a customer can walk into any Cargills Food City outlet across the country, to attend to their banking needs on extended hours and 365-day day basis.
How has been the feedback to Cargills Bank from its customers regarding the App?
A. From the moment this application was introduced to our customers we have being getting an excellent feedback from them as it has made life convenient for them by banking with Cargills Cash. We value the thoughtful recommendations we get from our customers. We are also witnessing enterprises in the cooperate sector lining up to join hands with us as partners, because they see a positive value proposition of this service. We have partnered with ikman.lk, tickets.lk, Sri Lankan Airlines etc as these entities see a superior opportunity to boost their operations by partnering with us. By tying up with our services, they have been able to offer increased convenience to their consumers.
In looking back what do you believe was the reason behind the success of this product?
The bond between Cargills Bank and the Cargills Food City network has immensely helped us to achieve this record breaking milestone. The commitment from the teams engaged from both sides was immense especially from the front-liners, who provided value added services to engage our customers with this product. There are also many teams working in technical, marketing and operational areas to ensure the success of this product. Therefore, as I mentioned earlier it is a team effort which delivered this unique proposition in to the market.
Meanwhile Cargills Food City is undergoing a rapid expansion drive. Any new Cargills Food City outlet coming up will be enabled with these new services. As the Cargills Food City network expands Cargills banking services will also reach customers across every corner of the island.
Cargills is a brand that has been faithfully serving Sri Lankans for 173 years, built on a foundation of values and ethics. True to this heritage and the ethos of ‘Banking on the Human Spirit’, Cargills Bank is taking banking to the masses by being inclusive and accessible. The Cargills Bank Debit Card with special offers is now a ‘must have’ for discerning customers.
Cargills Bank’s Head Office is in Colpetty with branches at Maitland Crescent, Maharagama, Old Moor Street, Wattala, Kandy, Peradeniya, Nuwara Eliya, Ratnapura, Thanamalwila, Matara, Galle, Kurunegala, Kaduruwela, Vavuniya, Chunnakam, and Jaffna.