FriMi gains recognition in the Sri Lankan digital banking sphere

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Convenience is something that FriMi has been working hard to be synonymous with the app. Within a short period of two years, it has changed how both banking and payments can be carried out. Rather than being just another payment app or a digital wallet, it combines the features of a fully-fledged digital bank, mobile wallet and payment system, all in one solution.

Giving power to the people

Think of FriMi as a modern day response to managing one’s day to day financial activity. As such, it gives users all the bells and whistles of managing a fully-fledged savings account, within a single mobile app. Users can reap all the benefits that the app has to offer while on the go.

FriMi
Renuka Fernando – CEO of Nations Trust Bank PLC (Image credits: Business Today)

Speaking on behalf of FriMi, Renuka Fernando – Chief Executive Officer of Nations Trust Bank PLC, said “FriMi is a very young brand, and we are very proud that it has done exceptionally well during the first two years. The idea to introduce Sri Lanka’s first-ever digital bank came nearly three years ago when Nations Trust Bank attempted to look into the future, to understand the profile of our future customers and their lifestyle behavior and needs. We believe that the mobile phone will eventually replace the wallet and make the future cashless and card-less”.

FriMi wasn’t built in a single day

FriMi has been rapidly expanding both its e-commerce merchant network and its physical merchant network across the country. This has been carried out via QR and unique API integrated payment capabilities. In addition, the app also offers over 80 in-app billers that enable bill payments across a number of categories.

These include utilities, education, insurance, financial services, communication, clubs and entertainment. The service is also on the verge of launching its in-app recurring payment capability. This would be to support the third party service providers mentioned above. 

Customers can also sign up to the bill presentment facility. This essentially gives users access to their monthly bills real-time with selected utility providers.Global payments have also been made possible via FriMi’s virtual and physical debit card.

Send cash just with a mobile number

With the app, users can also transfer money to any mobile number in Sri Lanka. The money can then be withdrawn from any Nations Trust ATM. This is possible thanks to the FriMi tokens feature. On top of this, the app also allows its users to directly transfer money to other users.

Split the bills & share all your fun, excitement and responsibilities

With FriMi’s bill splitting feature, users can split bill  any bill  among your friends using the app with just a few clicks. It will allow you to keep track of all splits and manage them with your friends for all shared expenses. So when you’re having a night out with your friends, you don’t have to waste time calculating bills. Rather you can just focus on enjoying each other’s company.

Enabling more secure transactions

FriMi users have multiple methods to secure their accounts through the app. These include a PIN, voice, fingerprint or facial recognition. Because FriMi is part of the Nations Trust Bank technology infrastructure, the app packs all the bells and whistles of the standard security protocols within the banking industry.

Setting themselves apart

FriMi
You can open a bank account with FriMi on its Android and iOS apps now (Image credits: FriMi)

Alongside all these features, Sri Lankans can sign up and open a bank account with FriMi with a few taps on the Android or iOS app. The company credits these reasons for FriMi has recently ranked amongst the top 30 Best Digital Financial Services Providers in the Asia Pacific, Middle East and Africa under the category of ‘The Best Digital Banks & Financial Institutions for 2018’ by The Asian Banker.

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