THE OMNI CHANNEL HUB

Updated: Nov 17

NMB BANK LTD


Set up as Nepal Merchant Banking & Finance Limited in 1995, NMB Bank Nepal offers retail and commercial banking services. Headquartered at Kathmandu, the bank has more than 160 banks across the Himalayan nation.

MARKET AND BUSINESS CHALLENGE



In view of increasing digitalization of socio-economic aspects of Nepalese populace and the Government’s ambitious Digital Nepal project with the objective of sustainable development, it had become imperative for banking institutions to keep pace.


Omni-channel access to banking becomes a primary requirement in this scenario. Customers are keen on banking on any accessible device such as laptops, smartphones, tablets, or even retail outlets.


To meet the emerging preferences of customers, NMB Bank Nepal was keen on launching a robust, multi-channel banking service that engages with mobile and Internet banking capabilities of digital natives and millennials.


The bank was looking ahead to create its perception as a user-friendly, modernized bank that was willing to walk an extra mile for the sake of its customers and Nepalese society.




THE APPROACH



To bring down development time, Paynet team took the low code approach for creating an omni-channel hub. Segregating the project into sub-sections, we deployed a hybrid development and delivery approach.


Data synchronization lies at the core of these initiatives, so we made sure all channels and underlying technologies worked in perfect symphony.




From conceptualization to production, omni-channel capability was delivered just in 16 weeks working with a team of 6 engineers.



OUTCOME

The project rolled out a customized omni-channel hub across all digital channels including mobile, tablet, Internet banking, wearables, and conversational banking. All products, users’ type and transactions on the hub could be monitored by a central authority that could

  • ​Set granular access rights, permissions and limits

  • Implement real-time tracking and authorization following requests by customers

  • Aggregate customer data from systems like CRM, Trade & Finance, and BI systems




BENEFITS FOR BANK AND CUSTOMERS

Embracing of technology by NMB Bank Nepal enabled them to extend some highly modern features to their customers:

360-degree view dashboard


The hub allows bank customers to manage full range of products such as savings, payments, loans, cards, etc. to have a 360-degree view on their finances from a single interface


Real time insights


Bank executives can hook into advanced analytics to extract valuable insights about customers. It helps them in cultivating deeper relationships with customers and shape better services for them.

Alerts and notifications


Customers can set personalized real-time alerts on unusual behaviour patterns.


The system allows them to set multimedia and multilingual omni-channel notification.



Goals and budget tools


Efficient but easy-to-use tools offer financial insight for customers, enhancing their ability to manage finances. They are able to review past spending based on parameters like categories and time durations.


Integrated rewards


Depending on goals, executives can frame custom rules to award cashbacks or loyalty points on various conditions like events, partial/full redemptions usage or frequency of transactions



Client Testimonial


PayNet was a great success for our bank. It really influenced our sales results for some of our products.


Shivaraj Upadhyaya | Head-Digital Banking | NMB Bank