ComBank first in Sri Lanka to offer loyalty points for digital banking transactions

Extends ‘Max -Rewards’ scheme to more than 1.4 million users of ‘ComBank Digital’

Digital banking has just become financially rewarding, with the Commercial Bank of Ceylon launching a ground-breaking industry-first initiative to award -reward points for transactions on ComBank Digital.

The Bank has announced that even a simple utility bill payment via ‘ComBank Digital’ can now earn rewards points from the Bank’s ‘Max -Rewards’ scheme, which hitherto awarded points only on purchases paid for by credit or debit cards.

Encompassing all new registrants as well as existing users of ComBank Digital, the Bank’s single omni-channel digital banking platform, the Max Rewards will award up to 300 points for a single transaction, enabling users to accumulate points that can be redeemed for purchases or other benefits.

The Bank said ComBank Max Rewards offers a comprehensive points structure combining one-time payments and monthly rewards, and the process of redeeming points would be similar to the redemption of points accrued on credit and debit cards issued by Commercial Bank. A single Max Reward point is equivalent to Rs 1.

“The Max Rewards points scheme for ComBank Digital users is designed with our customers’ best interests at heart,” Commercial Bank’s Assistant General Manager – Digital Banking Mr. Pradeep Banduwansa commented. “By introducing this scheme, we aim to make the digital banking experience more rewarding and enjoyable for over one million Commercial Bank customers who are already using ComBank Digital, and to provide one more compelling reason for many others to register.”

ComBank Digital is an integration of all online and mobile banking channels of Commercial Bank of Ceylon, and is offered via a responsive web application and three native mobile applications (iOS, Android and Huawei), enabling access across all devices such as desktop PCs, laptop computers, tabs and smartphones.

It also offers customers the functionality of investing in a range of Fixed Deposit products in both Rupees and foreign currencies, obtaining loans against Fixed Deposits and applying for personal loans.

Adjudged the ‘Best Mobile Banking App’ in Sri Lanka by Global Finance in 2023, ComBank Digital is one of the top five financial apps in use in Sri Lanka, and was launched in 2020. The app has undergone numerous enhancements, and is now enabled for the Bank’s business clientele too. It is powered by Fiserv, the US-based global provider of financial services technology.

Sri Lanka’s first 100% carbon neutral bank and the first Sri Lankan bank to be listed among the Top 1000 Banks of the World, Commercial Bank operates a strategically-located network of branches and 964 automated machines island-wide, and is the largest lender to Sri Lanka’s SME sector. Commercial Bank has the widest international footprint among Sri Lankan Banks, with 20 outlets in Bangladesh, a Microfinance company in Nay Pyi Taw, Myanmar, and a fully-fledged Tier I Bank with a majority stake in the Maldives.