MyraERP adds digital Loan Management Module, Boosting cooperative sector digitization in Nepal

KATHMANDU: Nepal’s cooperative sector is set for a major digital upgrade as MyraERP, a cloud-based enterprise solution, has introduced a comprehensive “Loan Processing and Document Management” module—enabling end-to-end digital handling of credit operations from approval to collateral management.

Developed by Neosis Technology, the platform aims to fully digitize cooperative operations, streamlining loan disbursement among members while enhancing compliance with regulatory requirements.

According to CEO Manoj Tiwari, the newly launched module is expected to significantly improve internal efficiency across cooperatives. With a single login system, institutions can now manage the entire loan lifecycle digitally—addressing long-standing challenges in member identification through Know Your Member (KYM) protocols.

The system integrates advanced financial assessment tools, including Five C analysis, automated creditworthiness evaluation, collateral valuation, and transaction history tracking. These features are designed to reduce lending risks while strengthening transparency and trust between cooperatives and their members.

Compliance and Regulatory Reporting Simplified

The upgraded MyraERP system also enhances compliance capabilities. Cooperatives can now seamlessly generate and submit mandatory reports to Department of Cooperatives Nepal through COPOMIS, as well as fulfill Anti-Money Laundering and Combating the Financing of Terrorism (AMLCFT) requirements, including TTR reporting.

Reports can be exported in standardized formats such as Excel and XML, ensuring compatibility with regulatory systems. Additionally, the software supports reporting needs for local governments, cooperative unions, federations, and the National Cooperative Regulatory Authority (NCRA).

The company also revealed that integration with the Credit Information Center for mandatory reporting by savings and credit cooperatives is currently in progress, allowing direct submission via the platform.

Security, Scalability, and Paperless Operations

With ISO 27001:2022 certification, MyraERP ensures high-level data security through its “Digital Document Vault,” safeguarding sensitive loan and collateral information.

Currently adopted by over 700 cooperatives, the platform already offers a wide suite of services including savings and loan management, member and share management, full accounting systems, mobile banking, and SMS alerts. Additional modules such as MR Collector App, inventory management, and online bill payments further push cooperatives toward fully paperless operations.

Built on scalable SaaS cloud infrastructure, the system eliminates the need for physical servers or firewall setups, making it cost-effective and accessible. The platform is positioning itself as a transformative solution capable of enabling Nepal’s cooperatives to deliver services comparable to modern banking systems and digital wallets.

The move reflects a broader shift toward financial digitization in Nepal, where technology adoption is increasingly seen as critical to improving governance, transparency, and operational efficiency in the cooperative sector.