PhoneLoan Reshapes Nepal's FinTech Space with NPR 17 Billion Disbursed Across 10 Commercial Banks
Under Nepal Rastra Bank’s digital lending guidelines, PhoneLoan has revolutionized unsecured lending by facilitating over 5.5 lakh collateral-free, paperless loans totaling NPR 17 Billion via AI-driven credit scoring.
Nepal’s digital lending landscape is experiencing an exponential shift as 'PhoneLoan'—an innovative platform operated under PhoneLoan Private Limited’s 'Credit Infrastructure as a Service'—records over 5.50 lakh loan disbursements. Acting as a digital-first banking tool under the regulatory framework of Nepal Rastra Bank (NRB), PhoneLoan allows account holders to acquire instant, paperless, and collateral-free personal loans within two minutes directly through their existing mobile banking apps. According to Uddhav Sigdel, Head of Risk and Partnership Department at PhoneLoan, the platform currently handles an investment portfolio exceeding NPR 17 Billion. The service has been integrated into 10 major commercial banks: Nepal Investment Mega Bank, Nabil Bank, Kumari Bank, Laxmi Sunrise Bank, NIC Asia Bank, Agriculture Development Bank, Machhapuchchhre Bank, Prabhu Bank, Rastriya Banijya Bank, and Citizens Bank, alongside the eSewa digital wallet ecosystem.