Siddhartha Bank expands digital banking with enhanced ‘EasyBank’ platform

KATHMANDU: Nepal’s banking sector is witnessing a rapid transformation with the rise of digital banking—modern, technology-driven financial services that eliminate the need for physical branch visits.

In the past, customers were required to spend hours in queues to complete transactions.

Today, that scenario has almost disappeared as banks increasingly adopt digital platforms to provide convenient and efficient services.

The COVID-19 pandemic further accelerated this shift, with banks turning to online systems to ensure safe and uninterrupted service delivery. Among the key players leading this digital revolution is Siddhartha Bank Limited (SBL).

Siddhartha Bank has been prioritizing digital innovation and customer convenience through its online platform ‘EasyBank’, launched around four years ago.

The initiative aligns with the ‘Digital Nepal’ campaign, aiming to make banking more accessible and technology-friendly.

The platform is available both on the bank’s official website and via its mobile app ‘Siddhartha Banksmart XP’, enabling customers to perform various banking activities from the comfort of their homes.

New & enhanced features in EasyBank Mobile App

Siddhartha Bank has upgraded its mobile banking app, making EasyBank more refined, interactive, and customer-friendly. The revamped app enhances accessibility to services related to account management, loan applications, customer service, KYC updates, and card operations.

Upon logging into the app, customers can navigate to the ‘Service Request’ section and click on the ‘EasyBank’ icon to access five major service categories:

1) Account Details

Customers can now view comprehensive account information through the ‘Account Detail’ section. This includes data on current, savings, and fixed deposit accounts, as well as loan details, non-funded loan information, and a complete checklist of issued cheques. The feature empowers customers to stay informed about their financial status at all times.

2) Loan Services

Customers no longer need to visit branches to secure loans against fixed deposits. Through the app, they can fill in the necessary details and apply for loans up to 90% of their fixed deposit value. Once approved, the amount is instantly credited to their savings account.

Additionally, merchant QR operators can apply for loans directly through the app. Customers can also convert outstanding credit card balances into EMIs (Equated Monthly Installments), allowing easy repayment through structured installments—all without visiting the bank.

3) Customer Service Support

The app enables users to block lost or misplaced cheques by providing the cheque number and reason for stoppage. Customers can also temporarily block their bank accounts if required and even switch between different savings account types without submitting a physical application.

4) Online KYC Update

To simplify compliance and record management, the bank has introduced an online KYC update system. Customers can now digitally update personal details such as annual income, education level, PAN number, marital status, profession, address, and income sources.

Necessary documents can be uploaded securely through the app. Moreover, customers can update their registered mobile number online without visiting the branch.

5) Card Management Services

EasyBank users can manage debit and credit cards directly through the app. This includes blocking/unblocking cards, reissuing PINs, and linking credit card statements for easy access. The feature ensures safer and more flexible card management for all users.

Web-based services: Accessible via laptop or computer

EasyBank is not limited to mobile users—customers can also access it through the bank’s official website. By clicking the ‘Login’ icon and selecting the ‘EasyBank’ option, users can access Account Services, Card Services, and Demat Services all in one place.

1) Account Services

Customers can open savings and fixed deposit accounts, activate accounts via video banking, update PAN details, and verify contact information online.

After online account opening, customers may need to visit a nearby branch for activation; however, those unable to do so can complete Video KYC verification through the app. This feature allows full activation of accounts remotely, saving time and effort.

2) Card Services

Siddhartha Bank’s card services are designed for convenience and security. Customers can apply for new credit or debit cards online, renew expired cards, or replace lost ones through the EasyBank website. While applying, users can select their preferred branch for card collection once it is ready. This digital initiative reduces the need for in-person visits and speeds up the process.

3) Demat Services

Through EasyBank, customers can also open and activate Demat accounts from home, eliminating the need to visit a branch. By navigating to EasyBank > Demat Services > Demat Account, or directly through Siddhartha Capital’s website, customers can fill out the necessary forms online.

Additionally, the platform allows users to check their CRN numbers—a common issue during IPO applications—making the process smoother and more efficient.

Bank’s commitment to a smarter, customer-centric future

By embracing digital technology, Siddhartha Bank aims to make banking more efficient, secure, and customer-friendly.

The EasyBank platform not only saves valuable time for customers but also aligns with the broader goal of advancing Nepal’s digital financial ecosystem.