{"id":81572,"date":"2021-12-19T16:34:38","date_gmt":"2021-12-19T16:34:38","guid":{"rendered":"https:\/\/websitedesigns.com.au\/elankanew\/?p=81572"},"modified":"2021-12-19T16:34:38","modified_gmt":"2021-12-19T16:34:38","slug":"arimac-innovates-and-rredefines-the-sri-lankan-banking-industry","status":"publish","type":"post","link":"https:\/\/websitedesigns.com.au\/elankanew\/arimac-innovates-and-rredefines-the-sri-lankan-banking-industry\/","title":{"rendered":"Arimac innovates and Rredefines the Sri Lankan banking industry"},"content":{"rendered":"<h1 style=\"text-align: center;\"><span style=\"font-size: 24px; color: #000000;\">Arimac innovates and Rredefines the Sri Lankan banking industry<\/span><\/h1>\n<p><img loading=\"lazy\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-medium wp-image-81573\" src=\"https:\/\/websitedesigns.com.au\/elankanew\/wp-content\/uploads\/2021\/12\/Arimac-innovates-380x400.jpg\" alt=\"Arimac innovates\" width=\"380\" height=\"400\" \/><\/p>\n<p><strong><span style=\"font-size: 16px; color: #800080;\">Source:<\/span><\/strong><span style=\"color: #000000;\"><a style=\"color: #000000; font-size: 16px;\" href=\"https:\/\/island.lk\/arimac-innovates-and-rredefines-the-sri-lankan-banking-industry\/\" target=\"_blank\" rel=\"noopener noreferrer\">Island<\/a><\/span><\/p>\n<p style=\"text-align: justify;\" align=\"LEFT\"><span style=\"font-size: 16px; color: #000000;\">Mobile payments have seen an increased development after the world faced the COVID-19 crisis in 2020.\u00a0In the new socially distanced world, customers swiftly moved to digital solutions, whether it was for purchasing groceries or indulging in entertainment. Many businesses had to digitally transform themselves to keep up with the \u201cno contact\u201d way of functioning. \u201cWithin ten years, the objects used to make physical payments, be it plastic cards, paper cash, or metal coins will be obsolete, with most of that obsolescence happening over the next five years. Arimac currently has partnered with several multinational companies that have already started the trend of digitalization. This isn\u2019t science fiction either. Look no further than Asia for examples of countries where most commerce is transacted through the mobile phone. At Arimac, we are excited to be at the forefront, leading the Sri Lankan fintech industry to the next stage of digitalization,\u201d says Chamira Jayasinghe, Founder\/CEO of Arimac.<\/span><\/p>\n<p style=\"text-align: justify;\" align=\"LEFT\"><span style=\"font-size: 16px; color: #000000;\">One such partnership is Arimac\u2019s collaboration with People\u2019s Bank to launch the People\u2019s Pay digital wallet, enabling individuals and businesses to transact electronically and store their data safely. Through the People\u2019s Bank mobile wallet, customers can now check their account balances, transfer funds, pay utility bills as well as manage accounts at other banks. Additionally, customers can also conveniently carry out mobile reloads, bill payments, and QR code payments. Merchants are also provided a host of user-friendly features including registration requests within the app, history and overview based on the currency, same-day refunds, and QR code generation with the convenience of using the same app for both personal and merchant financial management.<\/span><\/p>\n<p align=\"LEFT\"><!--more--><\/p>\n<p style=\"text-align: justify;\" align=\"LEFT\"><span style=\"font-size: 16px; color: #000000;\">Providing customers with enhanced biometric security features, such as fingerprint scanning and facial recognition, the mobile wallet is also equipped with AI technology that would facilitate customers to verify all the information that is uploaded onto the platform as well as capture the users\u2019 digital signatures. The app\u2019s onboarding security features will be further enhanced to facilitate EKYC and VKYC modules for additional identity verification.<\/span><\/p>\n<p style=\"text-align: justify;\" align=\"LEFT\"><span style=\"font-size: 16px; color: #000000;\">\u201cWe developed this app in the course of just two months. It normally takes around 8 months to develop a fully functional mobile wallet; however, the team was determined to meet the timeline that was given to us and worked tirelessly to achieve this. We are currently working on enhancing the features even further by transforming the standard mobile wallet to a complete banking solutions app. This will transform the way people handle money and redefine the Sri Lankan banking industry. We are excited to have partnered with People\u2019s Bank to pioneer this groundbreaking technology to the Sri Lankan market,\u201d says Chamira Jayasinghe.<\/span><\/p>\n<p style=\"text-align: justify;\" align=\"LEFT\"><span style=\"font-size: 16px; color: #000000;\">The wallet is fully compliant with all regulatory and cyber security requirements and is approved by the Central Bank of Sri Lanka. Available on all mobile platforms and compatible in Sinhala, English and Tamil, the People\u2019s Pay Mobile Wallet is the ideal tool to manage all your online transactions.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Arimac innovates and Rredefines the Sri Lankan banking industry Source:Island Mobile payments have seen an increased development after the world faced the COVID-19 crisis in 2020.\u00a0In the new socially distanced world, customers swiftly moved to digital solutions, whether it was for purchasing groceries or indulging in entertainment. Many businesses had to digitally transform themselves to [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":81573,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"aside","meta":{"footnotes":""},"categories":[20],"tags":[40349,40348],"class_list":{"0":"post-81572","1":"post","2":"type-post","3":"status-publish","4":"format-aside","5":"has-post-thumbnail","7":"category-articles","8":"tag-chamira-jayasinghe","9":"tag-covid-19-crisis-in-2020","10":"post_format-post-format-aside"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v25.7.1 (Yoast SEO v25.9) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Arimac innovates and Rredefines the Sri Lankan banking industry<\/title>\n<meta name=\"description\" content=\"Mobile payments have seen an increased development after the world faced the COVID-19 crisis in 2020.\u00a0In the new socially distanced world\" \/>\n<meta name=\"robots\" content=\"noindex, 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