Siddhartha Bank Launches API Banking Platform ‘Rapid’

Kathmandu : Siddhartha Bank has launched its API banking platform, ‘Rapid’, at Nepal Fintech Expo 2026.

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Raid is a Banking as a Service (BaaS) platform that uses Application Programming Interfaces (APIs) to connect the systems of banks, fintech companies, and digital service providers.

According to the bank, the platform will eliminate the need for corporate customers to access multiple systems separately to use different banking services once it is integrated with their systems.

Through the platform, customers will be able to check account balances, download bank statements, manage treasury operations, and automate transaction reconciliation directly through their existing software or Enterprise Resource Planning (ERP) systems.

Customers can link their bank accounts through the ‘Connect with API Banking’ option. The bank said customers can complete the process by filling out a one-time form, similar to the mobile banking registration process, with most subsequent steps handled online.

The bank said the platform also digitizes the customer consent process, making service activation easier and more transparent. It incorporates end-to-end encryption, multi-factor authentication, and other security protocols to protect transactions and customer data.

Rapid provides API-based banking services to small, medium-sized, and large businesses. The platform is expected to help businesses manage their financial activities more efficiently through their existing systems while strengthening collaboration among banks, fintech companies, and digital service providers.