Kathmandu: Rapid Tech has signed memorandums of understanding (MoUs) with nine ERP and business software companies to integrate its API banking platform into existing business management systems.
The company has partnered with IMS, Swastik, CMT Boss, RestroX, Synergy Tech, Inficare, Source Code, Crossover and Dolphin to enable businesses to access banking services directly through their Enterprise Resource Planning (ERP) and accounting software.
Through the integration, businesses will be able to check bank account balances, retrieve bank statements and automatically reconcile banking transactions with their accounting records without switching between multiple platforms.
The platform will also allow businesses holding accounts with multiple banks to monitor their overall cash position through a single ERP system, eliminating the need to log in to separate banking portals.
Focus on Financial Automation
Rapid Tech CEO Ashitosh Sah said the platform aims to simplify financial management by reducing manual processes and improving operational efficiency.
According to Sah, automated reconciliation between bank statements and accounting records will help reduce the time required for transaction verification, allowing finance teams to focus on other business activities.
The company said the integration will also provide businesses with information on actual bank balances and available funds, supporting more efficient cash flow management and treasury operations.
Additional Banking Features Planned
Rapid Tech plans to introduce several additional features in the coming phases, including Request to Pay, API-based account opening, Direct Debit and virtual accounts for margin lending and trading.
The company aims to expand embedded finance in Nepal by integrating banking services such as payments, collections, account opening and lending directly into business software platforms.
“Banks provide the financial services, businesses use those services through their own systems, and Rapid serves as the technological infrastructure connecting the two,” Sah said.
Through these partnerships, Rapid Tech aims to make banking services more accessible while helping businesses automate their daily financial operations and strengthen digital integration between banks and enterprise software providers.
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