15th August 2023, Kathmandu
Machhapuchchhre Bank Ltd Unveils Groundbreaking Partnership with NCHL, Citytech, and F1Soft International Pvt. Ltd for Digital Transformation i.e Machhapuchchhre Bank Digital Transformation
In a move set to reshape the landscape of transactions, security, customer engagement, and merchant interactions, Machhapuchchhre Bank Ltd (MBL) is elated to announce a robust partnership and collaboration with Nepal Clearing House Limited (NCHL), Citytech, and F1Soft International Pvt. Ltd. This strategic alliance marks a significant milestone that promises to redefine the way Nepal approaches financial operations.
Machhapuchchhre Bank Digital Transformation
With growing concerns over data confidentiality, privacy, and security in accordance with regulations such as BAFIA, Electronic Transaction Act, and the National Security Cyber Security Policy, this collaboration emerges as a response to the pressing need to bolster these aspects while advancing digital financial services.
Key Highlights of the Collaboration:
Account-Based Tokenization:
Harnessing the power of secure tokenization, sensitive bank data undergoes a transformation into impregnable tokens, fortifying every transaction with unprecedented levels of security and privacy.
NFC Payment:
Simplifying the payment process, NFC technology empowers users to make seamless transactions with a simple tap. Underpinning this convenience is the highest standard of security, ensuring peace of mind for customers.
Data Security Takes Center Stage:
In recognition of the paramount importance of customer trust, meticulous measures are being put in place to safeguard Customer Information at all times, bolstering confidence in the digital financial realm.
Extending Token Service:
Beyond payments, the scope of token service expands to encompass various payment and non-financial services where customer bank data is accessed. This amalgamation of versatility and security sets new benchmarks.
Elevating Engagement:
Recognizing that transactions are just one facet of the digital banking experience, a concerted effort is underway to streamline and elevate both customer and merchant engagement, facilitating seamless and gratifying interactions at every touchpoint.
Machhapuchchhre Bank Ltd continues to actively collaborate with stakeholders in a collective pursuit to construct a resilient, efficient, and innovative digital ecosystem. The partnership extends an open invitation to those who share the vision of transforming Nepal’s digital landscape, welcoming diverse forms of collaboration.
“We are entering an era of unprecedented collaboration and innovation, where customer-centric digital experiences will redefine the banking landscape,” remarked Machhapuchchhre Bank Ltd. “With Account Based Tokenization, NFC Payment, and an unwavering commitment to data security, we are poised to set new standards in the realm of digital financial services.”
As the partnership between Machhapuchchhre Bank Ltd, NCHL, Citytech, and F1Soft International Pvt. Ltd takes shape, it holds the promise of not just revolutionizing transactions, but also of cementing Nepal’s position as a trailblazer in the digital banking domain.
About Machhapuchchhre Bank Ltd (MBL)
Machhapuchchhre Bank Ltd is a leading financial institution in Nepal, committed to innovation and customer-centric solutions. With a strong focus on digital transformation, MBL is collaborating with key industry players to redefine the digital financial landscape, enhancing security, convenience, and engagement for its customers.
