Siddhartha Bank partners with Manipal Technologies
The bank believes this commitment will further fortify its efforts in mitigating such risks.
KATHMANDU: Siddhartha Bank and Manipal Technologies Limited have signed an agreement to enhance financial security for customers and strengthen the stability of the financial system.
The initiative focuses on reinforcing Anti-Money Laundering (AML) technology, aimed at reducing the risk of financial crimes in compliance with the regulatory requirements set by Nepal Rastra Bank.
The bank believes this commitment will further fortify its efforts in mitigating such risks.
This solution will enable Siddharth Bank to implement transaction monitoring, fraud control, and customer identification procedures through the use of Artificial Intelligence (AI) and Machine Learning (ML).
The bank aims to make its AML system internationally competitive through its collaboration with Manipal Technologies.
The initiative is also expected to set new standards in the banking industry.
