At Global IME Bank, we’re all about going digital and building up the financial scene in Nepal. We’ve just teamed up with Tigg, a well-known accounting software company in Nepal. This integration introduces Nepal’s first-ever integration to the third party software utilizing banking APIs, revolutionizing how the small businesses handle finances.
Empowering Businesses with Open Banking APIs
With open banking APIs, the secure and efficient exchange of data between the third-party apps and the financial institutions is ensured. The application interface we provide for the data transfer with Global IME Bank has made them more efficient in terms of financial activities. The software not only eliminates data entry but also supports the accuracy and the provision of the current financial information.
The following are the main features:
Real-Time Bank Sync
Automatically reconcile Global IME Bank statements with Tigg daily, providing up to date information.
AI-Powered Reconciliation:
Tigg’s AI suggests the most suitable accounts for transactions by looking at bank descriptions. This speeds up the process of matching records and makes it more accurate. Secure Integration: Connect your Global IME Bank account to Tigg and without hassle. The system uses bank-grade encryption to keep your data safe.
Operational Efficiency:
Recording transactions automatically, it prevents cumbersome and repetitive manual efforts, improving efficiency.
Data Integrity:
It minimizes duplication and missing transactions, reducing the chances of errors to a minimum and ensuring accuracy.
Fraud Prevention:
Hourly statement generation simplifies monitoring on a continuous basis, providing timely alerts for abnormal transactions and enhancing security features.
Benefits for Small Businesses
Tigg’s Bank Feed Integration has a big impact on small businesses giving them:
Time Saving: It speeds up balancing the books. This job takes up hours or even days when done by hand.
Better Numbers: Computer records cut down on mistakes people might make. This means the money info stays spot-on.
Compliance and Transparency: Computerized records facilitate audits and regulatory compliance, which is critical for businesses operating in Nepal’s evolving financial landscape.
New Horizons for Accounting Professionals
Nepalese accounting and finance professionals will hugely benefit from Tigg’s Bank Feed Integration. With automation of mundane activities, accountants and financial advisors can focus on value-added activities such as financial planning, cash flow management, and financial optimization.
Building the Digital Economy
Our partnership with Tigg is one of the prime examples of cooperation between banks and 3rd party platforms. Through the intersection of the domain of financial institutions and accounting software, we are developing a more modern and competitive business system in Nepal. Not only do we enhance the user experience with this collaboration but also strengthen the entire digital economy, establishing an example for emerging innovations in fintech.
Future of Accounting in Nepal
As we look towards the future of accounting, it is evident that efficiency, automation, and innovation will be the characterizing features of the landscape. Tigg’s Bank Feed Integration with Global IME Bank is an example of the efforts of Global IME Bank to empower companies with sophisticated financial tools.
As part of Global IME Bank, we aim to be the primary driver of digital transformation through innovative financial technology and digital banking initiatives and actively support local businesses with the tremendous benefits that come from digitalization. We offer various digital products such as QR Payments & POS devices enabling business of any size to seamlessly accept digital payment.
