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  • 27 Dec2017
    Posted by CDB Finance PLC
    Uses Facebook as fund transfer option Sender does not require recipients’ bank account details CDB Savings Account holders gain added convenience Always the pioneer, always the trailblazer, Citizen’s Development Business Finance – CDB’s revolutionary e-finance platform CDBiNet is using the Read more...
  • 27 Dec2017
    Posted by CDB Finance PLC
    General Manager CDB Nayanthi Kodagoda being presented the Gold Award at the SLITAD People Development Awards 2016/17 Continuing its unrelenting winning streak during 2017, Citizen’s Development Business Finance (CDB) won yet another prestigious accolade at the SLITAD People Development Award, Read more...
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    Posted by CDB Finance PLC
    Building on its deep-rooted commitment to youth empowerment, Citizens Development Business Finance PLC (CDB), launched its knowledge based CSR initiative by organizing a seminar for advanced level students in a bid to equip them with holistic knowledge that would steer Read more...
  • 27 Dec2017
    Posted by CDB Finance PLC
    First Runner Up in the Turnover Less Than Rs 15 Bn Category Wins Best Sustainability Project Award for its Green Ninja – CDB Quiz Master 2017 Merit Certificate - Best Sustainability Project for ‘Act Early’ for Autism Awareness Campaign Having Read more...
  • 21 Aug2017
    Posted by CDB Finance PLC
    The CDB Team emerged Tier B Champions at the Annual MCA Open Sixes Cricket Tournament, beating Maliban Biscuits in the Finals. This resounding victory comes after the jubilation of CDB clinching the championship in the D Division 40-over game organized Read more...
  • 05 Jan2018
    Posted by CDB Finance PLC
    Leadership in sales aptly recognised by the country’s marketing fraternity CDB’s intense training and leadership development amply rewarded The NASCO Awards held annually to recognise and reward sales leadership organised by the apex national marketing body in the country, the Read more...

CDB iNet breaks the mould in fund transfers

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Uses Facebook as fund transfer option

Sender does not require recipients’ bank account details

CDB Savings Account holders gain added convenience

Always the pioneer, always the trailblazer, Citizen’s Development Business Finance – CDB’s revolutionary e-finance platform CDBiNet is using the contemporary role that Facebook plays in people’s current lifestyles to initiate fund transfers.  CDBiNet, the first of its kind e-finance platform in Sri Lanka, very simply allows any CDBiNet user who has a CDB Savings Account to transfer funds to Facebook friends via Facebook itself and does not need to know any bank account details of the recipient. This fund transfer via Facebook is yet another first for Sri Lanka and further emphasizes CDB’s pioneering innovations in using technology as a fundamental advantage for its constantly expanding product and service portfolio.  With CDB savings account holders now eligible for this facility, customers gain added convenience for their financial operations.

 

Fund transfers via Facebook can be at present from a desktop/laptop and the recipient (FB Friend) can receive the funds via any mobile device or laptop/desktop that have access to a Facebook account.  “The biggest advantage of the FB transfer is that the receiver does not share individual bank details with the sender, which ensures absolute security and confidentiality of personal details,” explains CDB’s General Manager – Emergent Business Information Technology Imdaad Naguib. “Having always ensured uncompromised security in all our technological platforms, this revolutionary FB fund transfer too embeds processes and firewalls that assure users of stringent security that will never compromise their personal information.  Hence, the recipient will have a unique four-digit alphabetic passcode to access the transfer.”

 

The benefits and advantages pertinent to this revolutionising innovation are many.  From sending gifts to helping a friend in need or making a donation to a worthy cause, this transfer option is truly a boon to those who don’t want to embarrass the beneficiary by requesting their bank account details.

For an existing CDB Savings customer, the CDBiNet FB transfer is simply enacted by logging onto their CDBiNet account, clicking the Facebook Transfer option under Transfers and Payments, indicating the amount to be remitted, keying in the OTP (One Time Password) which is sent to the sender’s mobile and simply clicking ‘share’ to select the FB recipient.  “A customised message could also be included by the customer,” says Naguib.  “The four digit alphabetic password which is sent to the customer’s mobile must be forwarded to the recipient.”  The Facebook user (recipient) could access the funds from any device by clicking on the message on FB Messenger, entering the forwarded passcode and entering the bank account details for the funds to be credited to.

As Chief Digital Officer and Head Digital Face of Intellect Design Arena Rajesh Kuppuswamy, adds, “The entire concept of money transfers has been revolutionised and reduced to just three steps of logging into the account, choosing the recipient on FB and transferring the funds.  At Digital Face, we continually work to develop products that denote a bank in a pocket – banking convenience anywhere anytime.  Our suite of products including Unbanked, Mass Banking, Agent banking, Microfinance, Migrant banking, Digital Onboarding are designed to meet the digital transformation needs of the banking industry.”

About CDB

Citizens Development Business Finance PLC (CDB) is a public quoted leader in the Non-Banking Financial Institution Sector in Sri Lanka with an islandwide 69 branch network that is driven by a state of the art technological platform that has revolutionized the way financial transactions are done in this country.

 

About Intellect Design Arena Limited

Intellect Design Arena Ltd is a digital technology product solutions provider to the Banking and Insurance industry across Global Consumer Banking (iGCB), Central Banking,  Global  Transaction  Banking  (iGTB),  Risk, Treasury & Markets (iRTM)  and  Insurance (Intellect SEEC). It has created digital products and solutions for Banking and Insurance, addressing the growing need for digital transformation.