Nabil launched Nepal’s first Neo Bank: nBank

KATHMANDU: Nabil Bank Limited has launched nBank – Nepal’s first Neo Bank, virtually today. With this historic step, Nabil Bank has transformed from being computerized bank to digital bank.

Hosting a virtual launching program, Chairperson Upendra Prasad Poudyal, Vice Chairperson Nirvana Chaudhary, Chief Executive Officer Gyanendra Prasad Dhungana, and Deputy Chief Executive Officer nBank & Operations Binaya Kumar Regmi jointly launched nBank, the country’s first ever Neo Bank by completely revamping the mobile banking app.

Nabil Bank believes that nBank signifies Nabil Bank’s commitment to lead the way on the digital front. Nabil Bank has established nBank as a virtual branch within the Bank to create simple and intuitive customer journey across all digital touchpoints. Chairperson Poudyal said that nBank will transform the banking behavior of people and will contribute significantly in sustainable banking.

Addressing the launching event, Vice Chairperson Chaudhary said, “nBank will lead the ‘change in banking’ sector as customers can experience innovative digital banking services available 24/7 throughout a year accessible from
anywhere.” Stating that Trustworthiness and personal relationship are two key factors consumers value, he said, “nBank is truly personalized virtual banking without any physical branch.”

By using nBank, customers can easily perform all traditional banking services like account opening, deposits, lending, payments and more using their mobile device in no time. Stating that it saves time and cost drastically, Chaudhary said, “nBank is the answer to future banking requirements.”

In the program, CEO Dhungana expressed his happiness and said, “I am thrilled to announce the official launch of nbank. We have completed all data migration and system upgrade and today Nabil SmartBank app transformed to nBank for better banking experience.”

nbank caters to all Nabil Bank customers who choose to do their banking online: from opening their accounts, to getting digital loans. “Today marks the beginning of a neo era in the Nepalese banking industry with launching the completely-digital bank, nBank,” said DCEO Regmi adding that Nabil Bank has been leading the way in digital technologies. He further said, “We have created digital products and services that will completely change the way you bank.”

What is nBank?

nBank – Nepal’s first Neo Bank – is a digital bank launched by Nabil Bank for the first time in Nepal by completely revamping the mobile banking app. Customers who were previously using the Nabil SmartBank app receives an update where the logo transforms from the Nabil’s ‘A’ to nBank’s ‘n’. Furthermore, the look & feel of the app has been updated to provide a fresh and modern user interface.

For those who have not opened their accounts in Nabil Bank can now open their bank accounts through nBank app installed in their mobile. Nabil Bank claimed that it will take 30 seconds to open an account through nBank.

Customers can now perform a whole range of activities – from opening their bank accounts to applying for loans – directly from the nBank app. A few major features of nBank include:

1. Open an Account under 30 seconds

Customers can open their nSavings account directly from their nBank app under 30 seconds. Customers only need to fill out their name, Date of Birth, email address, mobile number, and citizenship number to open an account. The opened account will be operative for 15 days before customers need to update their KYC, which they can do so directly from their nBank app.

2. Digital Loan

Customers can apply for instant digital loans directly from their nBank app. There are two types of digital loans customers can apply for from their app: Nabil foneLoan and Loan Against Fixed Deposit.

Customers can avail Nabil foneloan based on their six-month transaction history. The Bank’s algorithm determines appropriate credit limit, and eligible customers can register for the loan and apply up to the stipulated limit directly from their nBank app. No bank visits, no paperwork, no hassles.

3. nRemit

Besides sending money within Nepal, customers residing abroad can send money from their international banks directly to a Nabil Bank Account using their Mastercard or Visa Cards by selecting nRemit. They only need to fill up a form with the sender and receiver details, along with the amount (in USD) to be sent. The receiver will get the money directly into their Nabil Bank account within seconds.

4. Register using International Number

Customers residing abroad can register for the nBank app using their international number and operate their Nabil Bank account. Customers residing abroad will receive SMS Alerts, OTP notifications, and even news & alerts from Nabil Bank.

5. 24/7 Support

The Bank provides 24/7 service to its customers through the Bank’s Customer Care Centre and video KYC solution.

Besides these, customers can apply for a host of banking services directly from their app:

a. New Debit Card
b. Replacement Debit Card
c. Credit Card

d. Individual Loan

Moreover, the following informational services can also be accessed from the app:

a. Get in Touch
b. Locate Branches/ATMs
c. Interest Rates
d. Exchange Rates
e. EMI Calculator

With nBank, customers can do everything they used to do on their mobile banking app, and so much more. By creating nBank, the first neo bank of Nepal, Nabil Bank has once again proven to set an example to the entire banking industry on the digital frontier.