In a remarkable achievement, People’s Bank of Sri Lanka has secured twelve prestigious titles at the Global Business Review Magazine Awards 2024, marking the third consecutive year of recognition. The Global Business Review Magazine Awards celebrate excellence in performance, innovation, and leadership across various industries. This impressive feat underscores People’s Bank’s sustained commitment to banking excellence and its significant impact on the financial landscape in Sri Lanka and beyond.
Established in 1961, People’s Bank has grown to be a cornerstone of Sri Lanka’s banking sector, providing innovative and trustworthy financial services. With an extensive network of over 743 branches, the bank has built a strong presence in both urban and rural areas. This widespread reach has enabled it to build and maintain trust across diverse communities. The bank’s emphasis on customer service and digital transformation has been crucial in bolstering the national economy, particularly during challenging periods.
Awards and Recognition
People’s Bank has been honored in several categories, reflecting its broad excellence within the banking industry. Key accolades include Banking Chairman of the Year Sri Lanka 2024, awarded to Mr. Sujeewa Rajapakse, Best Consumer Digital Bank Sri Lanka 2024, and Best Digital Banking Solutions Provider Sri Lanka 2024. These awards highlight the bank’s outstanding digital banking solutions, epitomized by its digital wallet app, People’s Pay, and mobile banking app, People’s Wave. These applications were praised for their user-friendly interfaces and their capacity to adapt to an evolving digital landscape.
The bank’s achievements at the Global Business Review Magazine Awards underscore its systemic approach to innovation and customer service. This highlights an understanding of its significant role in the financial services sector on both local and global fronts. Further recognition came through titles like Most Sustainable Bank Sri Lanka 2024 and Most Outstanding Workplaces for Women Sri Lanka 2024. These titles commend the bank not only for its financial performance but also for its commitment to sustainable practices and gender inclusivity.
Innovation and Digital Transformation
The recognition from Global Business Review Magazine particularly underscores People’s Bank’s extensive efforts in digital transformation. Over the past few years, the bank has invested heavily in cutting-edge technology to enhance customer experience. The bank’s digital wallet app, People’s Pay, and the mobile banking app, People’s Wave, have set new benchmarks within the industry. These platforms offer seamless, user-friendly experiences and have been critical in increasing financial inclusion, especially within the rural populace.
Digital innovation extends beyond just consumer banking. People’s Bank has also focused on enhancing its backend operations to improve efficiency and security. The integration of advanced cybersecurity measures ensures customer data is safeguarded, fostering trust and confidence among its users. The bank’s robust digital framework has positioned it as a leader in digital banking solutions, exemplified by the titles it has received at the awards. These advancements have played a crucial role in improving access to banking services for a broader segment of the population, contributing significantly to the bank’s ongoing success.
Commitment to Sustainable Practices and Inclusivity
Part of People’s Bank’s success can be attributed to its unwavering commitment to sustainability and inclusivity. The bank’s recognition as the Most Sustainable Bank Sri Lanka 2024 highlights its dedication to eco-friendly practices. This commitment is evident through its various green initiatives, including efforts to reduce carbon footprint and promote renewable energy projects. The bank’s strategy to integrate environmental, social, and governance (ESG) principles into its core operations has set it apart from its competitors.
In addition to its focus on sustainability, People’s Bank has also made significant strides towards gender inclusivity. Being named one of the Most Outstanding Workplaces for Women in Sri Lanka 2024 speaks volumes about the bank’s efforts in creating a balanced and supportive work environment. People’s Bank has implemented various programs to support career development for women, ensuring equal opportunities and fostering an inclusive workplace culture. These initiatives not only enhance employee morale but also contribute to the overall effectiveness and success of the institution.
Leadership and Industry Impact
Leading these remarkable achievements is Mr. Sujeewa Rajapakse, who was awarded Banking Chairman of the Year Sri Lanka 2024. His visionary leadership has been instrumental in steering People’s Bank towards unprecedented heights. Under his guidance, the bank has embraced digital transformation, customer service excellence, and sustainable practices as its core strategies. Mr. Rajapakse’s leadership exemplifies a forward-thinking approach that has ensured the bank remains at the forefront of the industry, earning respect and admiration both locally and internationally.
The recognition from Global Business Review Magazine is more than just an accolade; it serves as a testament to the bank’s influence and impact within the global banking industry. People’s Bank’s systemic approach to innovation and customer service has set a benchmark for other financial institutions. Its commitment to addressing the needs of both urban and rural populations, combined with a focus on sustainable practices, underscores its role as a paragon of excellence in the banking sector. This multifaceted approach has not only strengthened the bank’s market position but also contributed to the national and global economy.
Looking Forward
The recognition from Global Business Review Magazine particularly highlights People’s Bank’s extensive efforts in digital transformation. In recent years, the bank has invested significantly in state-of-the-art technology to boost customer experience. Its digital wallet, People’s Pay, and mobile banking app, People’s Wave, have become industry benchmarks. These platforms offer smooth, user-friendly experiences, crucial for increasing financial inclusion, particularly in rural areas.
Digital innovation at People’s Bank goes beyond consumer banking. The bank has also enhanced backend operations to boost efficiency and security. Advanced cybersecurity measures have been integrated to safeguard customer data, building trust and confidence among users. With a solid digital framework, the bank has emerged as a leader in digital banking solutions, as evidenced by the accolades it has received. These advancements have been essential in expanding access to banking services for a wider population segment, contributing significantly to the bank’s success and growth.
