Citizens Bank partners with RAPID to launch API banking integration for corporate clients

KATHMANDU: Citizens Bank International Limited has partnered with RAPID to introduce an integrated API banking solution aimed at simplifying financial operations for corporate customers and accelerating digital banking adoption in Nepal’s business sector.

Under the partnership, RAPID has been integrated into Citizens Bank’s banking infrastructure, enabling corporate clients to access a wide range of banking services through a single platform without needing to switch between multiple applications or banking portals.

The integration allows businesses to check account balances, download bank statements, transfer funds, make EMI payments, and process salary disbursements directly through their existing software systems or Enterprise Resource Planning (ERP) platforms.

According to the companies, customers can connect their bank accounts through the “Connect with API Banking” feature, allowing seamless access to banking services from within their own business management systems.

Streamlining Corporate Banking Operations

The move is expected to enhance efficiency for businesses by eliminating the need to manually log into multiple banking channels for routine financial activities.

Ashitosh Sah, Business Head at Gokyo Labs, said the collaboration represents a significant advancement in service delivery for Citizens Bank’s corporate customers.

He noted that integrating financial operations digitally into a single platform can substantially reduce the time, costs, and operational complexities faced by businesses, helping companies improve productivity and financial management.

Industry experts view API banking as a key component of digital transformation, enabling businesses to automate financial workflows and integrate banking services directly into their operational systems.

One-Time Registration for Full Digital Access

Citizens Bank stated that corporate customers will only need to complete a one-time registration process at the bank, similar to enrolling for mobile banking services.

Once registered, most banking services can be accessed and managed online, reducing paperwork and minimizing the need for physical visits to bank branches.

The bank further noted that RAPID has digitized the customer consent process, improving convenience, transparency, and user experience for businesses adopting the platform.

Enhanced Security Measures

Security remains a critical aspect of the API banking ecosystem. RAPID said its platform utilizes end-to-end encryption, multi-layer authentication, and advanced security protocols to safeguard customer data and digital transactions.

The company emphasized that these security measures are designed to ensure safe and reliable banking interactions for businesses of all sizes.

Growing Adoption of Banking-as-a-Service in Nepal

RAPID operates as an API-based banking platform that connects banks, fintech companies, and digital service providers through a Banking-as-a-Service (BaaS) model.

The platform seeks to make API banking more accessible and user-friendly while enabling financial institutions to offer digital banking services efficiently to small, medium, and large enterprises.

The partnership comes as Nepal’s banking sector continues to accelerate digital transformation initiatives, with increasing demand from businesses for integrated financial solutions that improve efficiency, automation, and real-time access to banking services.

As financial technology adoption grows across Nepal, collaborations between banks and fintech platforms are expected to play a crucial role in modernizing corporate banking and supporting the country’s broader digital economy agenda.