Kathmandu: Citizens Bank International took Bank of the Year for Nepal after a year of focusing on how to streamline and simplify operations for business and retail customers alike.
The bank established its centralised credit underwriting unit to streamline its credit appraisals and approvals process. Prior to the development, a credit file would require approval from nine different authorities within the bank, a process which delayed loan decisions and diverted time away from business development and customer relationship management. This has been streamlined to a single role, with the CCUU processing 799 new credit files and 512 renewal files since launch.
Customers can now use the cross-bank QR withdrawal option on the bank’s mobile banking app, which allows customers from other banks to scan a QR code in CBI branches and receive cash using their app. Being the first bank in Nepal to offer the feature means the bank has been able to draw customers away from its competitors.
To increase the adoption of electric vehicles, the bank launched the EV infrastructure loan, allowing borrowers to finance the purchase of charging equipment and construction costs for setting up charging stations.
“Over the past year, evolving customer expectations for speed, convenience and personalisation have driven our strategy. The bank optimised processes, advanced digital transformation and launched innovative products for emerging markets and evolving customer preferences,” says Ganesh Raj Pokharel, CEO of CBI.
“The bank has been carrying out the project called Sustainable Economic Development in Rural and Semi-Urban Areas — MSME Finance Phase III (SEDRA III), financed by KfW Development Bank in the context of German financial co-operation with Nepal to improve access to loan financing for MSMEs in rural and semiurban areas with financing needs in the so-called ‘missing middle’ segment, with loan sizes between Rs 200,000 to Rs 4,000,000 (US$ 1,410 to US$ 28,200). In the year ahead, our priority is to deepen digital integration, expand MSME financing, enhance customer experience and support to promote sustainable and inclusive growth of the nation.”
Comment Here