In this digital era, everything can be done online using our smartphone and laptop. One of the best utilities that have made Nepalese life easier is Global IME Bank’s Mobile banking service. Global IME Mobile banking has transformed the banking scenario into how we Nepali people use to do banking processes.
As we know, before mobile banking was introduced in Nepal, the process was hectic and time consuming. People have to stand in line for hours to deposit and withdraw money. Though ATM machines were available it needed the physical presence of people to withdraw the money, mobile banking has completely transformed financial access in Nepal as people from all over Nepal can do banking processes at their homes saving people time, energy.
What is Mobile Banking?
Simply, Mobile banking is like having a bank in our pockets.
It is a service provided by banks and financial institutions that allows users to operate their financial activities remotely with their mobile devices such as a smartphone or a tablet. With Global IME Bank’s mobile app, users can easily do tasks related to transferring of funds, paying bills, loading third party wallets, viewing statements, etc.
How mobile banking is becoming a problem solver for Nepali People
Mobile Banking has been an adamant need in every Nepalese household. From paying electricity bills to paying mortgages, it has been aiding Nepalese people in the nooks and corners in the cities and villages to sustain lives. Likewise, one of the major established banks, Global IME Bank has been catering services to thousands of lives in Nepal. The following are the ways in which it’s mobile banking has made a prominent impact in the livelihood of people of Nepal in general:
Geographical Accessibility
Rural Area Access: Over 80% of Nepalese live in the villages, mobile banking has made it possible for remote users to access banking services without needing to visit a physical branch. So, with 350 plus branches of Global IME Bank, people can open their bank account and with their bank account details they can activate their mobile banking anytime anywhere in Nepal.
Distance Reduction: Not many years ago, reaching a bank took hours of travel and was time consuming. Mobile banking now solves this problem with instant financial access from anywhere within network coverage.
Convenience & Speed
• Instant Transactions: In traditional banking, certain transactions would take days to process. Mobile Banking gives the facility of quick fund transfers, instant utility bill payments, recharge (top-ups) and even remittances can be done within seconds.
• 24/7, 365 Access: Unlike traditional banks that operate only at certain hours, Mobile Banking allows users to access their accounts and perform transactions at any time of the day, offering flexibility for people with varied schedules.
Security
Mobile Banking brings cashless transactions to the table, a safer alternative to carrying cash, reducing the risk of theft.
Personal Finance Management and Budgeting
It is possible to view one’s transaction history and statements with a tap of a finger. This helps users make informed financial decisions and manage their finances more effectively.
Fraud Prevention
The real-time alerts for transactions that the apps provide help detect and prevent fraud quickly.
Real-Time Balance Tracking
Customers can monitor their account balances anytime with a fingertip, which ultimately aids in better financial decisions.
Current Scenario of Mobile Banking in Nepal
The number of mobile banking users in Nepal has been increasing significantly. According to the NRB data as of mid-January 2024, the number of mobile banking users reached 23,216,383, which is a significant increase from the previous years. – Source jsort.com
Global IME Bank has been at the forefront of this trend, with more mobile banking users, making the bank stand out as one of the top contributors in the digital banking ecosystem of Nepal. This is a good number and QR payments are essential for any business in the major cities today. All commercial banks, as well as development banks and other financial institutions, have mobile banking as a core banking service now.
No longer a Luxury
Mobile banking is no longer an added benefit, it is now considered an essential service. Global IME Bank offers an enriched user experience with regard to its apps meeting the ever-changing needs of the customers in order to make banking easier, faster and safer.
Increasing Digital Literacy
The adoption of digital payments in Nepal has been driven by a combination of government initiatives, increasing availability of mobile and internet services, and the need to reduce dependence on cash. Increasing mobile banking
Adoption of Mobile Banking
People’s attitude towards Mobile Banking has significantly changed.
The COVID-19 pandemic has really reshaped Nepal’s banking culture. The pandemic has played a notable role in the rise of Mobile Banking adoption.
Transfers and Payments with Global Smart Plus
• Fund Transfers: Customers can transfer funds between their accounts or send money to others within seconds, even to other banks, which is especially useful for those without easy access to physical bank branches in countries like Nepal.
• Bill Payments: Mobile Banking apps facilitate utility bill payments for electricity, water, internet, and cable TV, eliminating the need to visit payment counters. This saves time and other resources.
• Merchant Payments: Lately, QR code payments are commonly used at stores, restaurants, and service centers.
Government Payments
Many government services now allow Mobile Banking, allowing citizens to pay taxes, fines, and other official fees directly through their mobile apps.
Mobile Recharge and Top-Ups
With Global IME’s simple and intuitive Mobile Banking, users of all ages can easily recharge their mobile phones and purchase data packs with just a few taps, and it is one of the most commonly used features in Nepal.
Supporting E Commerce Growth
Considering that e-commerce and global business opportunities are appealing to most of the young couples in Nepal, Global IME Bank proudly presents its Global Ecom Card which can be used across the globe without any hassle.
Loan Management
Banks tend to begin integrating loan application and management services into mobile banking applications, this enables customers to check their eligibility for loan, make payments, and inspect their finances directly from their gadgets. Learn more about Loan Management with Global IME Bank.
Account Management and Tracking
Users can easily check account balances, transaction history, and statements. This feature provides quick access to account information without having to visit a bank.
Share Market
People have been using Mobile Banking for the share market too which would take a lot of time and hassle and that’s why not many people were into share market before but with the rise of Mobile Banking, a significant number of people are into it lately.
Remittance Services
Nepal has a high volume of incoming remittances from abroad, and mobile banking apps allow recipients to directly deposit these funds into their bank accounts. Global IME Bank offering this is a no brainer.
How Mobile Banking is Meeting New Age Consumer Demands
The tech-savvy generation, the Millenials and the gen Z are the leaders and trend setters. We can’t afford to deny their opinions and ideas. But at the same time the old generation’s needs should not be overlooked. However, it’s crucial not to overlook the needs of the older generation, who value reliability and accessibility.
Global IME Bank, one of the leading financial institutions in Nepal, is meeting the demands of this diverse consumer base by offering comprehensive online banking solutions that cater to all.
- Good security measures : The most important thing people want in their banking service would be trustworthy, free of issues and and should be free from sudden failures. Global Smart Plus uses the latest encryption technology to ensure secure transactions and reduce the possibility of fraud.
- Omni-Channel Integration: Enjoy uninterrupted service across devices-start a transaction on your PC then complete it on your phone.
- Quick Wallet Loads: Easily load digital wallets such as eSewa, Khalti, and IMEPay.
- Ease of Use: Consumers prefer simple, user-friendly and intuitive interfaces. Global IME Bank’s app has it all.
- Reliable Customer Support: Global IME Bank is committed to providing exceptional customer support 16 hours a day. (10 AM to 4 PM)
- Instant Loan Against FD: Get loans quickly against your fixed savings without going to the bank.
- Affordable Service Charge: Affordable annual service charge of only NRS. 350.
Conclusion
Bringing banks to the fingertips, Mobile Banking has been transforming or even revolutionizing financial access in Nepal. Challenges like digital literacy, financial literacy and infrastructure gaps remain, the notable number of users increasing everyday tells otherwise. As Mobile Banking in Nepal continues to grow, Global IME Bank is committed to make life easier for everyone, from busy city people to rural villagers.
So, here’s to a future where “the bank” is always in our pockets – let’s just not accidentally sit on it!
Open a bank account with Global IME Bank at your ease from anywhere today!
