M Bank Technologies CEO Sanjay Mahaseth Discusses Digitalization of Cooperatives
Summary
M Bank Technologies provides digital banking platforms to more than 600 cooperatives and microfinance institutions in Nepal, expanding from SMS banking to mobile banking, QR payments, utility payments, and digital loan disbursement. CEO Sanjay Mahaseth says policy gaps, infrastructure, and weak KYC/AML practices remain the main barriers to full cooperative digitalization.
Key Points
- M Bank Technologies says it now serves about 550 to 600 cooperatives, microfinance institutions, finance companies, and international clients in Nepal.
- The company has expanded from SMS banking in 2016 to mobile banking, bank transfers, QR payments, utility payments, and digital loan services.
- Sanjay Mahaseth says cooperatives are technologically close to banks, but policy clarity, clearing infrastructure, and stronger regulation are still needed.
- He says digitalization can improve transparency and traceability, while a cooperative using the company’s technology recently won a Digital Growth Award from the World Council of Credit Unions in Australia.
