DFCC iConnect
Tech Upgrade

DFCC iConnect is a state-of-the-art online payments platform including key features such as secure host-to-host integration, Integrated API Engine for ERP integration solutions, automatic payment reconciliation, LPOPP payments, biometric login through the iConnect mobile application, and customisable authorisation matrices. Notably, the upgrade includes far-fetched customisation features ensuring streamlined financial operations along with the introduction of two new modules, virtual accounts and trade. DFCC iConnect is a technology-forward, customer-centric solution, empowering clients to enhance security and achieve greater operational efficiency with DFCC Bank’s upgraded PCM solutions.

New Mobile App
Revamp (DFCC ONE)

Catering to the exponentially increasing demand for easy and personalised management of customers’ funds through a feature-rich digital experience, the Bank revamped its existing mobile app to target mobile-first banking and counter the growing competition in this area. Evolving user experience for banking to be at the fingertips, the Bank engages in continuous upgrades to ensure seamless access to services while strengthening customer loyalty to the Bank through enhanced engagement.

LUXN-NFC Smart Staff Business Card

Contactless stakeholder engagement being the order of the day, this tech-savvy solution not only aligns with industry practices of speed-to-market but also weighs heavily on eco-friendly practices, demonstrating the Bank’s commitment to sustainability.

New Customer Acquisitions

The Bank continued the implementation of several initiatives to garner a greater share of customers in a variety of segments: The Enhanced product offerings like Payments and Cash Management Upgrade – Finance Supply Chain Management/Trade will attract corporate and SME clients, positioning the Bank as a preferred partner for business banking.

Online Banking

Although a comprehensive revamping is planned for 2025, certain online banking features were implemented in 2024. Online retail banking was enabled with FD upliftment, loan due payments, Advance Income Tax Certificate generation, and the introduction of a Special FD rate for customers opening through Online Banking (0.5% more than the from quoted rate). Card Account Number integration was done through Online Banking to support the PCI DSS certification process. Gov Pay platform, an initiative introduced by the government to facilitate statutory dues to the government, was also accommodated on this platform, promoting timeliness through digital payments.

Version Upgrade for
Smart Collection

Aggressive competition rules the day in any business. Managing receivables and timely collection requires automated tools that are efficient and user-friendly, allowing for error-free fund management and profitability. The Smart Collection version upgrades align with the current demand for cashless economies while enhancing operational excellence.

Branch Network Revamp with Cisco SDWAN and Standardising the Racks

With its customer-centric approach to delivery, the Bank adopted SDWAN solutions to enhance the branch network reliability and efficiency. Our strong premise that organised infrastructure reflects our relentless pursuit of meeting customer expectations for seamless service delivery. Simultaneously, this gives our branches an edge over competition, by offering scalable and cloud-compatible networking to remain a dynamic service provider to diverse customer needs.

Helpdesk Ticketing
System Implementation
to Align with ITIL

As an automated support system, the system provides an enhanced tracking mechanism and transparency for speedy resolution of employee and customer issues, resulting in efficient service management in a digitised business environment.

Firewall Upgrades

The regulatory demands for robust data protection are inevitable with the increase in cybercrime. Threat detection and mitigation therefore, are placed high on the bank’s data protection agenda. In line with this, the Bank provided further upgrades to its already robust firewall system, thereby proactively safeguarding our information and data assets, to retain and build on stakeholder’s confidence in the Bank.

System Upgrades for Profitability Enhancement

The IT department is carrying out several initiatives to contribute towards profitability enhancement to improve financial performance. Some of these are optimising cash flows and providing advanced analytics for timely and accurate decision making while reducing operating risks and mitigating threats. These include the Oracle Finance Upgrade that was completed in 2024, the Finance Supply Management in Trade, and the Oracle Financial Services Analytical Application that will be completed by Q1 of 2025

Treasury Function
Upgrades

On the Treasury front, several upgrades are planned for Fund Transfer Pricing and Asset and Liability Management, while the Process Automation Project and the New Workflow Revamp to deliver automated workflow will reduce costs incurred on manual intervention. This Project is planned to commence in 2025.

ATM Switch and
Pawning Services

Through these digital upgrades planned to be delivered in 2025, DFCC Bank intends to generate additional income where transaction capabilities are widened while modernising traditional service offerings.

E-learning

Digital certification for e-learning was carried out through the Learning Academy. A new
module on Anti Bribery and Corruption was introduced, aligning with Transparency International standards. A robust Anti Money Laundering training module was also included
in the e-learning system. E-learning models were implemented for Mobile Tellers and OICs. An e-learning module for Digital Banking Channels was also rolled out to create awareness among all staff.

E-Personal Files

A document management system was implemented to securely digitise employee personal files through the archival stage while complying with regulatory measures.