Rapid Partners with Nine ERP Companies to Integrate API Banking Platform

Kathmandu : Rapid Tech has partnered with nine ERP and business software companies to integrate its API banking platform into business software systems.

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Rapid Tech has signed memorandums of understanding (MoUs) with IMS, Swastik, CMT Boss, RestroX, Synergy Tech, Inficare, Source Code, Crossover, and Dolphin.

Through these partnerships, businesses will be able to access banking information and manage financial transactions directly from the ERP and business software systems they already use. Rapid’s APIs will enable businesses to check bank account balances, retrieve bank statements, and automatically reconcile bank transactions with their accounting records.

According to Rapid Tech CEO Ashitosh Sah, the platform aims to simplify financial management for businesses. He said automated reconciliation between bank statements and accounting records in ERP systems would reduce the time required to verify transactions, allowing finance teams to focus on other tasks.

Businesses holding accounts with multiple banks will also be able to view their overall cash position through a single ERP system without logging into each bank’s portal separately. Rapid will provide ERP systems with information on actual bank balances and available funds, helping businesses manage cash flow and treasury operations more efficiently, the company believes.

New Features in the Pipeline

Rapid plans to introduce additional features in the coming phases, including Request to Pay, account opening through APIs, Direct Debit, and virtual accounts for margin lending and trading.

Rapid’s long-term goal is to expand embedded finance in Nepal. Under this model, financial services such as payments, account opening, collections, and lending can be integrated directly into the digital platforms that customers and businesses already use.

“Embedded finance is fundamentally about creating an environment where businesses can access banking services through the software they use for their daily operations. Banks provide the financial services, businesses use those services through their own systems, and Rapid serves as the technological infrastructure connecting the two,” Sah said.

Rapid aims to make banking services more accessible while further integrating and automating the day-to-day financial processes of businesses.