Everest Bank Restores All Services After Successful Core Banking System (CBS) Upgrade
28th December 2025, Kathmandu
Everest Bank Limited has officially announced the successful completion of its major Core Banking System upgrade, marking a significant leap in its technological infrastructure. The bank confirmed that all banking services, including its widely used digital platforms, have been fully restored and are now operating with enhanced efficiency.
Everest Bank Restores Services
The transition to the new system, known as Finacle, was carried out between 10 Poush and 12 Poush 2082. As of the afternoon of 13 Poush 2082, the bank issued a formal notice stating that customers can now access all branch-based and digital services without any interruptions. This upgrade is a cornerstone of the bank’s long term strategy to modernize its operations and provide a more secure and seamless banking environment for its diverse customer base across Nepal.
UNDERSTANDING THE TRANSITION TO THE FINACLE PLATFORM
The core of this upgrade involved migrating the bank’s entire data and transaction engine to Finacle, a globally recognized and advanced core banking solution. Finacle is utilized by some of the largest financial institutions worldwide and is known for its scalability, security, and ability to handle high transaction volumes. For Everest Bank, this move away from its previous legacy systems represents a major commitment to digital transformation. By adopting such a robust platform, the bank is now better positioned to integrate modern financial technologies, improve real time processing speeds, and offer a more stable environment for its growing number of digital users.
IMPACT ON MOBILE BANKING AND DIGITAL SERVICES
During the upgrade window, which lasted approximately three days, several services experienced planned downtime. Mobile banking users were particularly affected as the system underwent data migration and synchronization. However, the bank has now confirmed that mobile banking, along with internet banking and ATM services, is fully functional. Customers can resume their daily financial activities, such as fund transfers, utility bill payments, and balance inquiries, with the added benefit of improved system responsiveness. The bank has emphasized that the temporary inconvenience was necessary to install the foundations for a much faster and more reliable digital experience in the future.
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STRATEGIC BENEFITS OF THE CORE BANKING SYSTEM UPGRADE
A Core Banking System is often described as the central nervous system of a bank. Upgrading this system offers several strategic advantages that go beyond simple transaction processing. Firstly, it enhances the security framework, providing better protection against cyber threats and ensuring compliance with the latest international banking standards. Secondly, the new system allows for a more “customer centric” approach, enabling the bank to launch innovative products and services more quickly. Finally, the improved data management capabilities mean that branch staff can serve customers more efficiently, reducing wait times and improving the overall quality of physical banking interactions.
CUSTOMER APPRECIATION AND REGULATORY COORDINATION
In its official communication, Everest Bank expressed sincere gratitude to its valued customers for their patience and cooperation during the scheduled maintenance period. The bank acknowledged that service disruptions can be challenging for both individual and business clients. Furthermore, the bank recognized the support of regulatory authorities, including Nepal Rastra Bank, and the dedicated technical teams who worked around the clock to ensure a smooth transition. The successful execution of such a complex migration without significant data loss or extended delays is a testament to the bank’s operational resilience and careful planning.
THE EVOLUTION OF DIGITAL BANKING IN NEPAL
The upgrade at Everest Bank reflects a broader trend within the Nepalese financial sector, where banks are increasingly competing on the basis of technological superiority. As the “Digital Nepal” framework gains momentum, the demand for 24/7 banking access and seamless mobile transactions continues to rise. Industry experts suggest that banks failing to upgrade their core systems will find it difficult to scale their operations or satisfy the expectations of the tech-savvy younger generation. Everest Bank’s investment in Finacle places it at the forefront of this evolution, ensuring it remains competitive in an increasingly digital and fast paced financial ecosystem.
CONCLUSION AND FUTURE OUTLOOK FOR EVEREST BANK
In conclusion, the successful restoration of all services following the CBS upgrade to Finacle marks a pivotal moment in Everest Bank’s history. This technological leap provides a solid foundation for the bank’s future growth and its mission to deliver world class banking services in Nepal. While the transition required a short period of downtime, the long term benefits of increased speed, security, and stability will far outweigh the initial inconvenience. As the bank continues to monitor the new system’s performance, customers can look forward to a more efficient and innovative banking experience.
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