Kathmandu: NMB Sapati, Nepal’s first Artificial Intelligence (AI) driven loan product has crossed 1,000 customers with a loan volume of more than Rs 60 million disbursed.
The AI-driven product features end-to-end automation wherein the entire loan process from application to disbursement of the loan is accomplished digitally 24/7 without manual intervention of any kind within 5 minutes, the bank said in a statement.
Of more than 10 million deposit accounts in the country, approximately 1.6 million customers have availed loans successfully. At times when customers’ access to digital loans is low, NMB Sapati has been fulfilling the customers’ need of small ticket sized funds with its AI-driven technology, reads the statement.
NMB Sapati was launched keeping in mind the customers’ immediate requirement of short term funds without additional collateral, according to the bank.
The loan is available to all the customers who have maintained their salary account and to all the Retail Loan customers of the bank with loan limits for such customer groups being up to Rs 100,000 and up to Rs 200,000 respectively. Customers have the option to select their repayment period at their convenience. The loan can be availed simply through one’s mobile device with no bank visit required.
“With NMB Sapati, NMB Bank has been providing quick and easy loans to its clients to fulfill their immediate and short-term requirement of funds. We have been focusing on innovative product solutions for our customers with the help of digital technology and will continue bringing in more innovative solutions that add value to our clients” said a statement issued by the Bank.
The bank has requested its customers to make optimum utilization of digital banking services and