Siddharth Bank Limited has introduced a new online account-opening service for business and corporate customers, becoming one of the latest banks to expand digital access to business banking services in Nepal.

Under the new service, companies, firms, institutions and other commercial entities registered in Nepal can initiate the process of opening a bank account online. Customers can submit the required information and documents digitally without having to begin the process by physically visiting a branch.

The bank said the service has been introduced to make the account-opening process more convenient, accessible and technology-friendly for business and institutional customers.

Applicants can provide their required details and supporting documents through the bank's digital platform. This allows businesses to complete the initial stages of the application remotely and reduces the paperwork and time involved in starting the account-opening process.

However, the online application does not completely eliminate the need for a physical branch visit. Once the online application has been submitted, customers will need to visit their nearest Siddharth Bank branch once to complete the verification process.

Customers will also need to present their original documents during the branch visit. The physical verification is required before the account can be fully activated.

The bank said the new service is intended to reduce the hassle traditionally associated with opening business and corporate accounts. By shifting the initial application process online, businesses can begin their banking relationship without having to make repeated visits to a branch.

The service is particularly aimed at business and institutional customers that need banking facilities for their day-to-day operations, financial transactions and other commercial requirements.

Siddharth Bank expects the digital account-opening facility to provide greater convenience to customers while also making its banking services more accessible through technology.

The move comes as Nepal's banking sector continues to expand digital services beyond retail banking. Business customers are increasingly being offered online processes for services that traditionally required extensive branch-based documentation and processing.

With the new facility, Siddharth Bank is seeking to make the business account setup process faster and more convenient, while retaining in-person verification as part of the account activation process.