Kathmandu. Nabil Bank Limited has launched NBank (Neo Bank) for the first time in Nepal. Nabil Bank launched N Bank (Neo Bank) on Thursday (today) in a virtual event.

Bank Chairman Upendra Prasad Paudyal, Vice Chairman Nirwan Chaudhary, Chief Executive Officer Gyanendra Prasad Dhungana and Deputy Chief Executive Officer of NBank and Operations Vinay Kumar Regmi jointly launched NBank, Nabil Bank has transformed from a computerized bank to a digital bank.

Nabil has become the first bank to lead digital banking by launching NBank, which has completely revamped the mobile banking app.

Nabil Bank has established NBank as a separate virtual branch. Chairman of Nabil Bank, Upendra Prasad Paudyal, said that NBank will bring changes in people’s banking behavior and make a significant contribution to sustainable banking.

Addressing the launch program, Vice President Chaudhary said, ‘With the launch of NBank, Nabil Bank will now lead the ‘change’ in the banking sector.

This innovative technology has brought a new wave in banking where customers can get digital banking services from any time and place.’ Stating that consumers evaluate reliability and personal experience, he said, ‘NBank is a personalized virtual banking without any physical branch.’

According to the bank, customers will be able to easily access all traditional banking services such as account opening, deposits, loans and payments through the use of NBank with the help of their mobile phones.

Stating that NBank will save a lot of time and cost, Vice President Chaudhary clarified that the future of banking is digital banks.

The chief executive officer (CEO) of the bank, Gyanendra Prasad Dhungana, has expressed his happiness at being able to lead the digital bank.

I am delighted to announce the official launch of NBank. We have completed all the data migration and system upgrade and today Nabil SmartBank App has transformed into NBank for the best banking experience.’ He said that NBank will provide services to customers who choose online banking, from opening their accounts to getting digital loans.

Vinay Kumar Regmi, CEO of Nabil Bank, said that a new era has begun in the Nepali banking industry. “Today, a new era has begun in the Nepali banking industry by launching a fully digital bank, NBank,” Regmi said.

What is N Bank, how to use it?
NBank (Neo Bank) is a digital bank launched by Nabil Bank for the first time in Nepal by completely modifying the mobile banking app.

Customers who are already using the Nabil SmartBank app get an update where the logo changes from ‘A’ to NBank’s ‘N’. Moreover, the look and feel of the app has been updated to provide a new and modern user interface.

Even dignitaries who have not opened an account in Nabil Bank can now open a bank account through the NBank app on their mobile phones. Nabil Bank claims that it takes only 30 seconds to open an account through NBank.

From opening their bank accounts to applying for loans, customers can now do all the activities directly from the NBank app.
These are the main 5 features of N Bank
1. An account can be opened
in 30 seconds through the NBank app. An Nsaving account can be opened within 30 seconds. To open an account, the customer has to fill only his name, date of birth, email address, mobile number and citizenship number.

The opened account will be operational for 15 days before customers can update their KYC, which they can do directly from their NBank app.

2. Digital loan
customers can apply for a digital loan directly from their NBank app. Two types of digital loans can be taken: Nabil phone loan and loan against fixed deposit.

Customers can get Nabil phone loan based on their 6 months transaction history. The bank’s algorithm determines the appropriate credit limit and eligible customers can register for a loan and apply directly from the customer’s NBank app up to the specified limit. There is no need to go to the bank or do any other paperwork for this.

3. N-
Remit Apart from sending money within Nepal, customers residing abroad can choose N-Remit to send money directly from their international banks to their Nabil Bank account using their MasterCard or Visa cards.

Only the form with the amount to be sent along with the sender and receiver details (in USD) will be filled. The recipient will be able to receive the money directly into the Nabil bank account within seconds.

4. Registration facility using international number
Customers living abroad can register on the NBank app using their international number and operate their Nabil Bank account. Customers living abroad will also receive SMS alerts, OTPs, notifications and news and alerts from Nabil Bank.

5. 24/7 service
Bank will provide 24/7 service to its customers through Bank’s Customer Care Center and Video KYC. This facility has been operated with the intention of immediately solving the problems that may arise while using any service of NBank.

Apart from the above, the customer can apply for a host of banking services directly from their app:
a) New Debit Card
b) Debit Card Replacement
c) Credit Card
d) Personal Loan
Besides, the following information services can also be accessed from the app:
a) Contact
b) Branches/ATMs
c) Interest rate
d) Exchange rate
e) EMI calculator Through nbank
customers can do everything they use on their mobile banking app. Nabil Bank has once again presented a new example to the entire banking sector by launching NBank.