InfoDevelopers, Shangri-La Development Bank sign agreement for CRS implementation

KATHMANDU: InfoDevelopers, a leading software development company, and Shangri-La Development Bank, a prominent financial institution in Nepal, have signed an agreement to implement InfoDevelopers’ Comprehensive Reconciliation System (CRS) to automate and streamline the bank's reconciliation processes.

The agreement was signed by Arbin Pradhan, Director of InfoDevelopers, and Apoorba Prasad Joshi, Chief Operating Officer of Shangri-La Development Bank, at a ceremony held at the bank’s head office. Key members from both organisations, including Subash Paudel, Corporate Manager at InfoDevelopers; Dileep Dawadi, Business Development Manager at InfoDevelopers; and Santosh Pangeni, IT Head of Shangri-La Development Bank, attended the event.

The CRS software is designed to simplify the reconciliation process by ensuring accurate matching of financial data, essential for regulatory compliance and maintaining financial integrity. With this software, Shangri-La Development Bank aims to improve its internal operations, reduce manual work, and increase overall efficiency in financial management.

Speaking on the partnership, InfoDevelopers’ Corporate Manager, Subash Paudel, said, "We are delighted to collaborate with Shangri-La Development Bank and provide a solution tailored to their reconciliation needs. Our CRS software is built to offer smooth integration, faster processing, and greater accuracy, which we believe will significantly enhance the bank's operational efficiency."

Shangri-La Development Bank COO, Apoorba Prasad Joshi, added, "As part of our ongoing efforts to improve the efficiency and reliability of our financial operations, we have chosen InfoDevelopers’ CRS software. This will streamline our reconciliation process, minimise errors, and enhance the quality of our financial reporting."

The implementation of CRS software is expected not only to improve Shangri-La Development Bank’s internal operations but also to strengthen its financial management practices, helping the bank maintain a competitive edge and improve its customer service.