Kathmandu, April 6

Nepal Certifying Company (NCC) has penned a deal to deliver digital signature and certificate (DSC) to Standard Chartered Bank Nepal Ltd, making it the first commercial bank in Nepal to use the DSC.

The agreement was signed by Gorakh Rana, head of commercial banking and international clients at Standard Chartered Nepal and Biplav Man Sigh, chairman of NCC, on behalf of their respective organisations.

Standard Chartered Nepal is scheduled to implement DSC in phases for authentication of communication/documents originating from its clients, the scope of which will depend on the regulatory provisions, as per a media release issued today.

This agreement will draw Standard Chartered Bank Nepal closer to its digitisation agenda as it helps eliminate manual interventions in improving client experience.

Availability and usage of DSC is also expected to reduce the risk of repudiation as it allows the bank to accept transactional and other related documents from clients through electronic medium.

Joseph Silvanus, chief executive officer of Standard Chartered Bank Nepal, said that acquiring DSC had opened a gateway for the bank in transacting with clients efficiently through a secure mode.  He further added, “Digitisation remains a key priority for the bank in Nepal.”

Nepal Certifying Company has been managing the DSC issued by Radiant Info Tech Nepal Pvt Ltd, the issuing certifying authority in Nepal. It has been working to implement DSC all over the country and replace paper activities.

A DSC is produced by using the PKI method. DSC is a data with digital signature from one trusted certification authority.