Bank of Ceylon

Bank of Ceylon (BOC) operates in Sri Lanka, offering a range of financial services. It serves retail, corporate, and business customers. The bank provides various deposit accounts and digital platforms. It also offers specialized services and unique technologies.

Retail & Personal Banking

BOC Savings Plus has a tiered interest rate structure. Interest compounds daily. A minimum balance of LKR 5,000 avoids maintenance fees. BOC Classic Current offers an overdraft limit up to 50% of average daily balance. It sends real-time SMS alerts for every debit and credit. BOC Flexi Salary auto-sweeps surplus into fixed deposits at a preferential rate. Payroll credit integrates via ACH (BOC Express Credit). BOC Fixed Deposit offers an auto-renewal option. This option is configurable per term. Penalty-free partial breakage of up to 20% principal is allowed. BOC Wealth Builder Plan uses Systematic Investment Transfer (SIP) from savings to FD monthly. It includes a lock-in facility up to 10 years with stepped-up rates. Ran Surakum Naya Seva provides gold loans. Loan-to-value is up to 75% of gold valuation. Weekly interest servicing is an option.

BOC Flex mobile app features biometric login. It also has a 6-digit PIN fallback. The app offers instant loan-against-FD disbursement via API integration. Smart Online Banking uses 2-factor authentication. It generates time-based OTPs. NFC-based card registration and contactless beneficiary addition are available. SmartPassbook allows e-statement download in PDF/A format (ISO-19005-1). Its multilingual UI toggles between Sinhala, Tamil, and English. SmartPay enables consolidated bill-payment file upload (XML). It supports scheduled recurring autosweep instructions. Meta Banking operates via WhatsApp Business API. It provides end-to-end encryption (TLS 1.3). Cardless Withdrawal uses a QR code for ATM access. The QR code is valid for 15 minutes. Max. single transaction limit is configurable via profile. Gewamu.lk is an online bill collector. It provides consolidated merchant bill-presentment via ISO 20022. API-based reconciliation files (CSV) are downloadable. B app uses a soft-token for transaction signing (HMAC SHA-256). It sends offline push notifications via Firebase Cloud Messaging. Smart Remit App provides real-time FX quotes. It has end-to-end STP (SWIFT-integrated). Beneficiary pre-validation is available via IBAN/GNIB lookup. BOC Visa Classic Debit Card has EMV Chip and magnetic stripe. Contactless limit is LKR 5,000 per tap. BOC MasterCard Platinum Credit Card offers a revolving credit limit up to LKR 2 million. It features a dynamic CVV (CVV2 token refresh every 24 hours). BOC Rupee Platinum Debit Card supports multi-currency settlement (LKR, USD, GBP) at POS. It uses host-to-host POS integration (ISO 8583 messaging). BOC Prepaid Travel Card is reloadable in 9 currencies via online banking. It is EMV Co 2.0 compliant for dynamic currency conversion.

Corporate & Business Banking

BOC Trade Services issues SWIFT MT 700 for Letters of Credit. Online tracking is available via Trade e-Platform (MT 754 advice). BOC Connect corporate portal uses multi-user role management with RBAC. It supports batch-file import (ISO 20022 PAIN.001) for bulk transfers. Fund Transfers at Your Ease handles RTGS settlements in LKR up to LKR 100 million per day. It enables MT 103 SWIFT messaging directly from the portal. Foreign Currency Deposits use MX ISO 20022-formatted SWIFT messages (pain.002). Tiered rates apply across USD, EUR, GBP, JPY accounts. COVID-19 Crisis Response Facility offers a principal moratorium up to 12 months. It has a variable-rate tenor up to 60 months. BOC Capital Machinery Financing uses a lease-to-own structure. It includes a balloon payment option. Asset valuation integrates with an external appraiser. BOC Export Finance Scheme provides pre-shipment/export packing credit up to 90% FOB value. Post-shipment settlement is via MT 400 series. BOC Import Letter of Credit offers revolving L/C issuance with an automatic extension clause. The system includes documentary check with discrepancy reporting engine.

Specialized Services

BOC Treasury Online provides real-time streaming quotes via FIX protocol. It offers straight-through processing for FX forwards. BOC Unit Trust Distribution allows online subscription/redemption via fund-switch gateway. AMFI-compliant e-KYC integration is included. BOC Al Islam offers Mudarabah savings accounts with a profit-sharing algorithm. Shariah-compliant Murabaha financing is available.

Branch-on-Wheels uses fully off-grid solar-powered mobile branch kiosks. It has satellite-linked core banking connectivity. BOC Digi Branch (Kiosk) features biometric Iris and fingerprint customer verification. It includes cheque scanning with OCR and auto-character recognition. BOC Connect Agent Banking uses agent micro-ATMs. These utilize STK USSD for offline areas. Biometric authentication is via a portable fingerprint reader.