The Central Bank of Nepal, Nepal Rastra Bank (NRB), is actively spearheading a transformative agenda to enhance digital literacy in the country, with a notable focus on collaborative efforts involving local banks, other financial institutions (BFIs), and various stakeholders. As Nepal strides towards a digitally inclusive future, innovative entities like 12iD play a pivotal role in supporting this transformative agenda.

Aligned with the NRB Financial Literacy Frameworks of 2022 and 2023, 12iD is at the forefront of providing impartial Single Sign-On (SSO) solutions to local banks and BFIs. The company specializes in empowering nations with secure digital identities that enable seamless access to a wide array of services, including financial transactions and government interactions. 12iD’s innovative SSO technology plays a vital role in bridging the digital divide by offering secure, user-friendly, and inclusive digital identity solutions.

Recent data from the Nepal Telecommunications Authority reflects a significant increase in mobile penetration, indicating a growing potential for expanding digital financial services across the country. The higher mobile penetration rates in Nepal signify broader access to mobile devices across the population, which is particularly impactful in a landscape where smartphones, equipped with face-fronting cameras and biometric authentication capabilities, are becoming more prevalent.

The introduction of new Nepalese Citizen IDs aligns with the country’s journey towards digital innovation. These modern IDs incorporate advanced security features and unify a multitude of regional documents, leveraging the capabilities of smartphones equipped with front-facing cameras and eKYC functionalities. This convergence allows for secure and efficient identity verification processes, revolutionizing how citizens access services and interact with financial institutions.

One of 12iD’s main features is a live biometric check, which avoids the traditional device biometric verification (fingerprint or face-ID), enabling not only eKYC processes but also further identity verification during transactions. This integration enables citizens to conveniently and securely verify their identities, either remotely or during in-person verification processes.

This transformative shift towards leveraging higher mobile penetration, smartphones with advanced biometric capabilities, and the issuance of modern Nepalese Citizen IDs signifies a pivotal moment in Nepal’s digital landscape, supported by 12iD’s groundbreaking technology. The synergy between technology and the NRB’s initiatives is poised to create a more secure, digital, and accessible identity verification ecosystem, empowering citizens and fostering financial inclusion across the country.

Nepalese banks stand to gain significantly by integrating 12iD’s impartial Single Sign-On (SSO) solutions. With 12iD’s expertise in providing secure digital identities, banks in Nepal can enhance accessibility and security for their customers. The innovative SSO technology from 12iD aligns perfectly with Nepal Rastra Bank’s (NRB) vision for digital empowerment, fostering financial inclusion while ensuring robust security measures. Leveraging 12iD’s solutions can propel Nepalese banks toward a future of enhanced digital access, streamlined services, and heightened security for their customers.

Image by pvproductions on Freepik