This is a commendable achievement since its commercial launch, with over twenty similar products vying aggressively for market share and customer growth.
CIM has powered over 2.3 million transactions digitally, a clear testament to the value and the convenience CIM offers to its customers and demonstrates Sri Lanka’s rapid progress in embracing digital payments across all spheres.
Speaking on this milestone achievement Bimal Perera, Head of Strategy and Digital Finance, LB Finance, stated, “CIM goes beyond being just another mobile payment platform by offering a very high level of integration with our core banking system. This uniqueness enables our valued customers to enjoy unhindered access to their portfolio of lease, loans and deposit accounts through one single digital platform.”
LB CIM is proud to be one of the few tri-lingual mobile wallets available in the market and champions the concept of simplicity in its UI/UX offering. Company believes CIM’s ultra-simple design gives it an advantage over the completion to become a truly inclusive digital payment solution to Sri Lankan masses
LB CIM smart phone application is available for Android and iOS based devices. It comes in the form of two separate mobile Apps; ‘CIM Customer App’ and ‘CIM Business App’, to cater to the specific needs of customers and retail merchants.
CIM business app functions as a platform for retail merchants to develop their businesses by managing their business cash flows more efficiently and securely, while earning interest on the digital savings account.
Through CIM Business app, LB Finance expects to include Micro and Small Enterprises (MSEs) to the formal financial services and offer them an opportunity to avail working capital credit to develop their businesses.
CIM mobile wallet is an ambitious initiative by LB Digital Financial Services (DFS), a specialized unit that combines the strength and heritage of a five decades old financial institution with the entrepreneurial spirit of a fintech start-up. LB DFS plans to further enhance the value proposition of CIM to position it as the country’s most inclusive digital financing solution.
Company believes the agility and the dynamism in its business model are the key attributes in sustaining its performance at the highest level in this highly competitive financial services space.