Commercial Bank's DGM Marketing Hasrath Munasinghe (left) receives the ACEF Award

The Commercial Bank of Ceylon’s efforts to make its operations more eco-friendly have been acknowledged internationally with the award for ‘Best Sustainability – Green Initiative’ at the 2015 Asian Customer Engagement Forum (ACEF) Awards in Mumbai.

The only award presented by ACEF in the sustainability category, the award recognizes the effectiveness of Commercial Bank’s initiatives to migrate customers from traditional banking channels to digital platforms such as mobile and online banking, as well as its investments in and efforts to promote automation to minimize the use of paper.

The award was accepted on behalf of the Bank by its Deputy General Manager – Marketing Hasrath Munasinghe, who was also invited to be a panellist at the 5th Asian Customer Engagement Forum which preceded the awards ceremony. The ACEF Awards recognize excellence in marketing, sustainability and corporate social responsibility and are guided by a 21-member Advisory Board which has the credentials in advanced customer engagement work.

“Engaging with our customers to encourage use of electronic channels that benefit the environment is an important element of the Bank’s overall commitment to the planet,” said Commercial Bank’s Chief Operating Officer/ Executive Director S Renganathan. “We have had tremendous success in building our mobile banking and online banking user base lately, and installed automated cash and cheque deposit machines at many branches. These efforts should contribute to significantly Greener operations.”

Over the past three years, Commercial Bank has added more than 200,000 Mobile Banking customers and over 100,000 Online Banking customers, and tripled the size of its mobile banking customer base in the past year. Efforts to promote use of these facilities are continuing.

Commercial Bank has also set up an Automated Banking Centre (ABC) at its Ward Place branch with the facilities to not only deposit cash and cheques and withdraw cash but also to open savings accounts, apply for retail loans and carry out online banking transactions. In addition, the Bank has commissioned the first of a new generation of automated cash deposit terminals, creating a Green Banking Channel (GBC) that eliminates the use of paper for depositing cash at the Bank’s Rajagiriya branch, under its Green Banking agenda.

Commercial Bank operates a network of 244 branches and 616 ATMs in Sri Lanka and is the country’s largest private bank.