Sri Lanka Interbank Payment System Sri Lanka Inter Bank Payment System (SLIPS) was introduced in 1993 by the CBSL, as an off line retail fund transfer system. With the establishment of LCPL, operations of SLIPS were handed over to LCPL in 2002.
In 2002, LankaClear had commenced automating the cheque clearance process in Sri Lanka, originally carried out by CBSL. Other services which LankaClear commenced include the Sri Lanka Interbank Payment System (SLIPS), enabling same-day transfers. A real-time funds transfer switch has been enabled.