Agreement between IME and One Point Financial Services

KATHMANDU:IME Limited and One Point Financial Services have signed into a remit switch agreement.

IME and One Point Financial Services, which supplies banks and financial institutions with the 'API Management System-APIMS', have established an agreement to further automate remittance-related services.

The memorandum of understanding was signed by Khilendra Paudel, CEO of IME Limited, and Shri Pratap Shrestha, CEO of One Point.

According to the terms of the agreement, One Point will provide IME Limited with a Remit Switch. Open API standards will be implemented via the same remit switch to facilitate the integration of all internal and external systems in accordance with international best practices.

An open testing environment will also be made available for internal and external partners to test and integrate APIs provided by IME Limited.

The Open API standard system, which was previously solely used in the international market, has been introduced in Nepal for the first time in partnership with IME One Point. This allows internal and external partners who want to use API integration to do so themselves.

Committed to making remittance services available to all Nepalis, IME has demonstrated its expertise in the fintech sector by adopting new technology to improve the convenience and sophistication of traditional remittance services.

Khilendra Paudel, Chief Executive Officer (CEO) of IME, feels that this collaboration will be critical in making the remittance service more agile and dependable by implementing a more sophisticated system while embracing the fast digitization of financial services.

One Point has been helping banks and financial institutions' digital payment infrastructure by delivering a secure and dependable digital system and platform.