Nepal-based mBank Technologies has partnered with NMC Multipurpose Co-operative Ltd. (NMC-COOP) to launch an integrated digital banking, payments and lending platform for more than 150,000 cooperative members. The partnership brings mobile banking, payments and digital lending services together through a single platform, allowing NMC-COOP members to carry out a wider range of financial activities remotely.
NMC-COOP currently serves more than 150,000 members through 57 service centres. The new digital services officially became operational on Shrawan 7, following the signing of the partnership agreement on Jestha 29. The mBank platform provides NMC-COOP members with access to mobile banking, QR payments, fund transfers, utility payments and other digital payment services.
Members can also update their Know Your Member (KYM) information through the application, bringing several services together within a single digital interface. The integration is intended to make everyday financial services more accessible while reducing reliance on physical service centres for routine transactions. For NMC-COOP, the platform provides a way to extend digital services across its large membership base and network of locations.
Digital lending is a key component of the partnership, with additional capabilities being introduced progressively. Members will gain access to loans against fixed deposits and periodic accounts, as well as digital loan repayments, loan statements and new loan applications. The platform will also support digital document submission and allow members to track loan applications, potentially reducing the need for repeated visits to service centres during the lending process.
The move expands the partnership beyond mobile banking and payments to cover a larger part of the cooperative’s relationship with its members. mBank is positioning the deployment around its “One Platform for Banking, Payments & Lending” strategy and “One App, Multiple Services” model.
The company has more than a decade of experience providing mobile banking, QR payments, digital lending and related financial technology services to cooperatives, microfinance institutions and other financial organisations in Nepal. The NMC-COOP deployment expands mBank’s reach among Nepal’s cooperative sector and adds a large membership base to its digital financial services platform.
“This partnership is not merely an expansion of mobile banking services; it is a shared initiative to transform the cooperative sector through digital technology,” mBank CEO Sanjay Mahaseth said. “By integrating Banking, Payments and Lending into a single digital ecosystem, we aim to provide members with a simpler, safer and more modern financial experience.”
NMC-COOP provides services across areas including savings and credit, agriculture, dairy, tea and remittance services. Laxmi Prasad Upreti, CEO of NMC-COOP and recently elected chairman of National Cooperative Bank Limited, said technology-driven services would play an important role in the sustainable development of Nepal’s cooperative sector.
The partnership is expected to give members more convenient and secure access to financial services while helping NMC-COOP expand its digital capabilities. The addition of digital lending could be particularly significant for members who currently need to visit service centres multiple times to submit loan applications and documentation, make repayments or obtain account information.
By moving more of these processes to mobile devices, the platform could reduce administrative work and make financial services more accessible to members who live farther from NMC-COOP’s physical locations.
