Sampath Bank launches SL’s first blockchain-based banking solution
View(s):Sampath Bank this week announced the launch of Sampath igift, a unique person to person gifting mobile app that is set to transform the way Sri Lanka celebrates momentous occasions.
The app enables all Sampath Bank account holders to gift money to anyone in their smartphone’s contact list. They can gift any amount between Rs.100 to Rs.10,000 per gift, up to a maximum of Rs.100,000 per day. They can also include personalised messages with text, selfies, emoticons, stickers and more, to their friends and family, with the gift, the bank said in a media release.
Sampath Bank has built Sampath igift using blockchain technology, becoming the first to develop and introduce a blockchain based banking solution in Sri Lanka. Continuing to transform Sri Lanka’s financial services landscape through its innovative products and solutions, this is yet another instance of the Bank being the first to adopt emerging technologies to add value to its customers, it said.
“Sampath Bank account holders can simply start using Sampath igift by downloading and installing the app and registering themselves through it. Currently available on the Google Play Store, the app will soon be hitting the Apple App Store. Recipients who have the app installed on their smartphone will get an in-app notification when they receive gifts through Sampath igift. They can retrieve the gift and deposit the money to their account at Sampath Bank or any other bank in Sri Lanka. In the event the recipient does not have the app on their phone, they will receive a SMS with a link to download the app and access the gift,” the release said.
“Allowing Sampath Bank accountholders to send gifts of money to their friends and family, the app is set to revolutionize the way people utilize financial services in their daily lives,” said Nanda Fernando, Managing Director, Sampath Bank PLC. “With this, we have earned the distinction of being the first bank in Sri Lanka to introduce a blockchain based solution.”