Kathmandu. Laxmi Sunrise Bank and IMS Software Pvt. Ltd. (Technical Service Provider (TSP) have entered into a collaboration to facilitate micro and medium enterprises (SMEs) in Nepal through a digital medium.

According to Nepal Rastra Bank’s digital lending guidelines, Laxmi Sunrise Bank’s SME customers can apply for and receive loan approval through a digital process as soon as possible. To take advantage of this facility, enterprises need to use the Enterprise Resource Planning (ERP) system in their business. In addition, the businesses that are associated with IMS Software and meet the required criteria will be eligible for this scheme.

Under this collaboration, IMS Software will provide a digital lending platform as a technical service provider. Eligible enterprises will be able to complete the loan application and process digitally based on the business data available in their ERP system. This is expected to make the loan process simpler, faster and more transparent, and give businesses easier access to the necessary financial resources.

According to the bank, this initiative will help expand financial access to SME sector and encourage businesses to adopt digital systems. The collaboration between Laxmi Sunrise Bank and IMS Software will make the loan approval process more efficient through a data-based appraisal system and will contribute to the sustainable development of small and medium enterprises in Nepal.

This combination of Laxmi Sunrise Bank’s banking expertise and technical capabilities as a technical service provider of IMS Software is expected to help strengthen Nepal’s digital economy by providing prompt, smooth and transparent credit access to businesses.