Mega Branchless Banking

Mega Branchless Banking is intended to facilitate Mega Micro Banking customers while delivering their services at their door steps through the use of state-of-the-art technology. Mega BLB is only the extended service that contributes less on income generation where the cost of establishing BLB outlets is compensated by the income generated by micro banking business. From this model we are extending service outreach without establishing a physical branch or as a combination of the branch and business correspondents' networks. It is intended to optimize mutual benefits to all stakeholders comprising customers, Business Correspondents (BCs), technology providers and the Bank. The model is based on the basic assumptions of saving time, cost and physical hassles incurred by the customers in the rural areas in order to receive financial services from formal financial institutions. We have been making endeavors to implement branchless banking services as a support channel of Micro Banking Services to achieve objectives such as:

1. Increasing financial access to micro customers on deposits, loan, remittance and other banking products.
2. To deliver quality services amongst the customers of the larger circumference and hence to enhance customer base in the area where it will be costly for us to provide services.
3. To minimize customers' traveling costs, time cost and physic costs by delivering services right at their door steps.
4. To mobilize local trusted parties as an intermediary between the Bank and customers by appointing them as the Bank's BC to extend service outreach.
5. To mobilize local deposits and hence in turn to expand the deposit base.
6. To minimize cash transit risks of our staff while delivering micro banking services.

For further information, please contact:

MICRO BANKING
Mega Bank Nepal Limited
Rising Mall, Kamaladi, Kathmandu
Ph: 01-4169216/7, 4169204/5
Fax: 01-4169214/5
E-mail: dambar.shrestha@megabank.com.np