Self-verification process of account linking and verification within connectIPS picks-up at additional banks

The self-verification process of account linking and verification within connectIPS has now been adopted by more number of banks and financial institutions, corresponding to which the bank customers can now link their bank accounts online through a self-verification process without having to visit the bank branch in person. Until now, the facility is available for the customers of Nepal Bangladesh Bank Ltd., Mega Bank Ltd., Laxmi Bank Ltd., Century Commercial Bank Ltd., Global IME Bank Ltd., Bank of Kathmandu, Muktinath Bikas Bank Ltd., Kamana Sewa Bikas Bank Ltd., Jyoti Bikas Bank Ltd., and ICFC Finance Ltd. Many of the other BFIs are also in the final phase of extending this feature.

Once a bank account is linked within connectIPS under “Link Account”, the customer can do online verification by selecting the” Self-Verify Account” option in the “Manage Account” section within the system. And the process is completed with multi-factor authentications based on verification of the customer information, OTP (One Time Password) sent to the registered mobile number at the bank and two micropayments deposited at the same bank account.

connectIPS is being used by the bank customers for fund transfer and service payments directly from NCHL’s channels of the mobile app, connectips.com, and payment gateway and alternatively from mobile/ internet banking of the majority of the BFIs. connectIPS has over 54 BFs within its network as its members

For more information, visit www.nchl.com.np  or www.connectips.com