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Kathmandu. Kumari Bank Limited in collaboration with IMS Software Pvt. Ltd. has launched Nepal’s first real-time integrated digital lending platform, aiming to take digital banking to a new height in Nepal. <\/p>\n
Through this innovative initiative, the bank will provide collateral-free loans to its business customers through IMS’s ERP software. For this, the long paperwork and the hassle of visiting the branch will be eliminated. The loan application platform facilitates the entire process from loan application, approvion, disbursement and payment process to complete the payment process digitally. <\/p>\n
Through the direct integration with the ERP system, the bank will be able to evaluate creditworthiness based on real-time data such as sales, turnover, and stocks of businesses. This data-driven system provides financial access to businesses without the need for traditional collateral, allowing them to make quick and accurate decisions. The business can avail working capital loan up to Rs. 500,000, which can be repaid in equated monthly installments for up to 12 months, depending on their performance. The bank plans to make the financial process simpler, faster and more effective by increasing the loan limit in the future based on the use of services, demand and directives from Nepal Rastra Bank. <\/p>\n
This initiation is in line with Nepal Rastra Bank’s vision of digital credit expansion and enhancement of credit access Kumari Bank is commitment towards innovation and financial inclusion, especially benefitting SME & SMEs. <\/p>\n
The initiative is expected to further strengthen financial inclusion by targeting over 9 lakh small and medium enterprises (SMEs) making a significant contribution to Nepal’s economy. It is also expected to contribute positively to the promotion of entrepreneurship, business expansion and overall economic activities. <\/p>\n
With a nationwide network of 286 branches and 41 extension counters, with strong banking experience and association with technology partners, Kumari Bank stands at the forefront of digital financial transformation in Nepal and believes this initiative will set a new benchmark in credit accessibility for SME and will continue to do so in the days to come. <\/p>\n
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Kathmandu. Kumari Bank Limited in collaboration with IMS Software Pvt. Ltd. has launched Nepal’s first real-time integrated digital lending platform, aiming to take digital banking to a new height in Nepal. Through this innovative initiative, the bank will provide collateral-free loans to its business customers through IMS’s ERP software. For this, the long paperwork […]<\/p>\n","protected":false},"author":9,"featured_media":303074,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[45117,45159],"tags":[],"class_list":["post-303078","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bank-finance-en","category-news-en"],"acf":[],"_links":{"self":[{"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/posts\/303078","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/comments?post=303078"}],"version-history":[{"count":1,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/posts\/303078\/revisions"}],"predecessor-version":[{"id":303079,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/posts\/303078\/revisions\/303079"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/media\/303074"}],"wp:attachment":[{"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/media?parent=303078"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/categories?post=303078"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/tags?post=303078"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}