NIC ASIA Bank makes preparation for stringent implementation of anti money laundering and combating terrorist funding; inks software procurement deal with tech companies of Nepal and India

NIC ASIA Bank has entered into a tripartite agreement with Infrasoft Technology Ltd., India, Amnil Technology Pvt. Ltd., Nepal for the purchase of End to End AML/CFT solution.

The agreement regarding the same was signed between CEO of the bank Mr Roshan Kumar Neupane, VP Delivery Product of Infrasoft Technology Mr. Amit sharma and CEO of Amnil Technology Mr Amit Joshi amid a program.

Following the agreement, the bank will receive End to End AML Solution product from these companies  that will work for the End to End AML (Anti Money Laundering) (Combating Terrorist Financing) as prescribed by international anti money laundering agencies like Financial Action Task Force and Asian Pacific Group on Money Laundering.

The bank has also made necessary arrangements for its customers to open their bank accounts with digital and biometric security systems at 32 different branches. Likewise, the bank has also urged its customers to update their KYC forms by visiting the bank’s official website, as per the media statement.

The bank currently has 313 branches, 426 ATM terminals, 104 extension counters and 45 branchless banking units, making it the largest bank in the nation in terms of the network and bank reach.