Sakchyam and Laxmi Laghubitta Announced Their Partnership for Digitisation of Financial Services

August 12, 2019

Kathmandu: A partnership between Laxmi Laghubitta Bittiya Santha Limited and UKaid Sakchyam Access to Finance Programme was officially announced on August 9 amidst a function at the head office of Laxmi Bank. The partnership is for the digitization of the microfinance services of Laxmi Laghubitta to deepen financial inclusion. The agreement certificates were signed and exchanged by CEO of Laxmi Laghubitta Prakash Raj Sharma and Team Leader of Sakchyam Nirmal Dahal for their respective organisations.

Under this project, Laxmi Laghubitta will adopt and integrate an advanced Core Banking System (CBS) to automate their services. The CBS which has proven its capability in the digital banking process will enable the organisation to transfer their services to the digital platform. Digital devices will be used to provide various services such as loan and saving collection and withdrawal, customer registration, loan application process etc. Tablet banking will be introduced in phases.

Highlighting on the partnership Sharma said, “With the digitization of the services, we hope our clients will have convenient, secured and faster financial transactions, and Laxmi Laghubitta will experience improved operational efficiency, diversified customer base with value-added products and services. It will help us to serve hard-to-reach areas thereby deepening financial inclusion”.

Talking at the event, Dahal expressed his appreciation for Laxmi Laghubitta’s forward-looking and clear vision about the kind of services they want to provide to their customers. Other speakers at the event were Philp Vernon, Private Sector Development Adviser, Jivan Prakash Limbu, Chairman, Laxmi Laghubitta and Sundar Prasad Shrestha, AGM, Laxmi Laghubitta.

CEO of Laxmi Bank, Ajaya Bikram Shah was also present at the event along with other members of the bank’s management team, and members from Sakchyam and Laxmi Laghubitta.

 

Read about the partnership: Digitization of Microfinance Services to Deepen Financial Inclusion