Kumari Bank Wins Infosys Finacle Innovation Award for Core Banking Transformation

Kumari Bank Wins Infosys Finacle
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2nd June 2024, Kathmandu

Kumari Bank Limited Wins Prestigious Infosys Finacle Innovation Award 2024

Kumari Bank Limited has been honored with the esteemed “Infosys Finacle Innovation Award 2024.” The award recognizes the bank’s outstanding achievements in the core banking transformation category, distinguishing it among 200 nominations across 10 categories.

Kumari Bank Wins Infosys Finacle Innovation Award

The Infosys Finacle Innovation Awards celebrate excellence and innovation in the banking sector, with Finacle’s core banking software praised for maintaining simplicity, excellence, and reliability. Kumari Bank’s recognition underscores its commitment to leveraging innovative technology to enhance convenience and security in banking.

In a statement, Kumari Bank expressed its dedication to further advancing information technology within the banking sector. The bank aims to add new dimensions to banking services, ensuring they remain at the forefront of technological advancements.

“This honor reflects our commitment to innovation and excellence in banking. Thank you to our customers, partners, and team for making this possible,” Kumari Bank Limited stated.

With this award, Kumari Bank reaffirms its pledge to provide superior banking solutions and continue its journey towards innovation and excellence in the financial industry.

Kumari Bank Limited

Foundation and Early Years:

Kumari Bank Limited commenced its operations on April 3, 2001 (Chaitra 21, 2057 B.S.), becoming the fifteenth commercial bank in Nepal. The bank was established with the objective of providing competitive modern banking services in the Nepalese financial market.

Capital and Network:

The bank boasts a paid-up capital of NPR 26.23 billion. It operates through 419 points of representation across urban, semi-urban, and rural areas, including 302 branches, 49 extension counters, and 59 branchless banking units.

Innovations in Banking:

Kumari Bank is a pioneer in providing modern banking services, including Internet and Mobile Banking. The implementation of FINACLE (version 10) core banking software has enabled the bank to offer a robust, ultra-modern banking platform nationwide.

Card Services and Digital Banking:

The bank offers both domestic and international Visa debit and credit cards, which are accepted at all Visa-linked ATMs in Nepal and India. It operates 314 ATMs and over 1100 POS terminals across the country. Additionally, Kumari Bank provides advanced digital banking services, including mobile, internet, and QR payments.

Reputation and Mission:

Recognized as an innovative and fast-growing institution, Kumari Bank is committed to customer satisfaction. The bank adheres to transparent business practices, professional management, good corporate governance, and total quality management as its core mission.

Expansion and Acquisitions:

In pursuit of fulfilling Nepal Rastra Bank’s directive to achieve a paid-up capital of NPR 8 billion, Kumari Bank acquired Kasthamandap Development Bank Ltd., Paschimanchal Finance Co. Ltd., Mahakali Bikash Bank Ltd., and Kankrebihar Bikash Bank Ltd. in Asadh 2074. Further, the bank acquired Deva Bikas Bank Limited, starting joint operations on Asadh 28, 2077. Most recently, on January 1, 2023, Nepal Credit and Commerce Bank Limited merged with Kumari Bank Limited, continuing operations under the Kumari Bank name.

Kumari Bank Limited remains dedicated to innovation and excellence, continually striving to enhance the banking experience for its customers across Nepal.

For more information: Kumari Bank Wins Infosys Finacle Innovation Award


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