Financial services outside conventional Bank
Siddhartha Bank has launched Branchless Banking services with brand name "Sajilo Banking Sewa" on 11th June 2011 from Pagnath VDC of Dailekh district. "Sajilo Banking Sewa" brought banking services to the doorsteps of the rural populace who had no access to formal banking system. For this service, the Bank appoints Business Correspondents who are popularly known as agent, who performs transactions on behalf of the Bank.
Siddhartha Bank has partnered with UNCDF, WFP and Sakchyam for cash transfers and G2P payment using Branchless Banking Mechanism.
Branchless Banking is delivering financial services outside conventional Bank branches, generally through agents through the use of communications technologies.Transactions are carried out through card-reading Point of Sale (POS) terminals or mobile phones unlike providing the services to the customers through brick and mortar branches.
Branchless Banking service is operated by using magnetic strip card with biometric authentication system. For this service, the Bank appoints Business Correspondents who are popularly known as agent, who performs transactions on behalf of the bank.
Locate Branchless Banking Here: Branchless Banking