Citizens Bank International Limited (CZBIL) has taken another step toward promoting digital financial services by collaborating with Teeka Resort in Lakeside, Pokhara. The agreement offers Citizens Bank customers a 20% discount, emphasizing the bank’s ongoing commitment to enhancing customer value and encouraging digital transactions over traditional cash payments.
Strategic Partnership to Benefit Digital Users
In a significant move to support the digital economy and promote smart banking practices, Citizens Bank International Limited has entered into a special agreement with Teeka Resort, a prominent hospitality destination located in Lakeside, Pokhara. According to the agreement, all Citizens Bank customers, specifically cardholders, privilege cardholders, and mobile banking users, are entitled to a 20% discount on services at the resort.
This initiative aims to provide value-added services to the bank’s clientele while reinforcing the culture of cashless transactions. The discount, which can be availed by using Citizens Bank’s cards or mobile banking app, reflects the growing synergy between the banking and tourism sectors in Nepal.
The bank stated that detailed terms and conditions regarding the discount can be accessed on its official website, encouraging customers to go through the digital platform to stay informed.
Encouraging the Shift Toward Digital Banking
Citizens Bank has positioned itself as a forward-thinking financial institution, continuously investing in technology to enhance customer experience and banking convenience. The collaboration with Teeka Resort not only adds lifestyle benefits for customers but also serves a strategic purpose, encouraging a larger customer base to adopt and use digital banking platforms.
A spokesperson from Citizens Bank mentioned that such initiatives are instrumental in reducing reliance on physical cash, thereby increasing security and transparency in transactions. “We believe that promoting digital transactions is vital for financial inclusion and service accessibility across Nepal,” the spokesperson added.
This latest partnership aligns with the government’s broader goal of promoting a digital economy, where financial institutions play a crucial role in driving digital adoption among consumers and businesses alike.
Recognition and Technological Innovations
Adding to its credibility and public trust, Citizens Bank was recently honored with the prestigious “Bank of the Year 2024” award. This recognition highlights the bank’s performance, innovation, and commitment to offering superior banking services.
As part of its technological roadmap, the bank has introduced several digital innovations in recent months. One of the most notable is the launch of Nepal’s first virtual credit card, the Citizens FonePay Credit Card. This innovation allows users to make payments without a physical card, providing an added layer of convenience and security.
Moreover, the bank has simplified the share application process by integrating CRN (Customer Reference Number) generation within its mobile banking app. This enables customers to apply for IPOs directly from their phones without visiting a branch.
Additionally, Citizens Bank has also launched cross-bank teller QR services, a first-of-its-kind feature in Nepal. Through this service, customers of other banks can withdraw money from Citizens Bank branches using QR codes, a breakthrough development in interbank operations.
Expanding Customer Reach Across Nepal
With a wide-reaching network and a growing customer base, Citizens Bank currently serves over 1.9 million customers. It operates through 200 branches, 168 ATMs, 3 extension counters, and 74 branchless banking units spread across 61 districts of Nepal.
This extensive presence ensures that both urban and rural customers have access to reliable and inclusive banking services. The bank has emphasized that its mission goes beyond offering traditional banking, it strives to connect communities through financial empowerment and digital transformation.
Its branchless banking units, in particular, play a vital role in offering banking services in remote areas where formal banking infrastructure is limited. This focus on accessibility underlines the bank’s contribution to financial inclusion in Nepal.
A Model for Public-Private Collaboration in Tourism
The partnership between Citizens Bank and Teeka Resort sets a model for future collaboration between financial institutions and the tourism sector. Pokhara, being one of Nepal’s major tourist destinations, attracts thousands of domestic and international travelers annually. By offering financial incentives such as discounts through digital platforms, both the banking and hospitality industries can mutually benefit while delivering enhanced value to consumers.
This kind of public-private partnership has the potential to stimulate local economies, especially in post-pandemic recovery phases, by encouraging domestic travel and promoting the use of formal banking channels for payments.
Future Outlook
Looking ahead, Citizens Bank plans to further deepen its digital offerings and expand customer benefits through strategic alliances. The bank is working on integrating advanced features like AI-based fraud detection, real-time customer service, and broader interbank digital collaboration.
The success of initiatives like the Teeka Resort partnership indicates a strong demand for digitally enabled lifestyle services. Citizens Bank is expected to replicate similar models in other regions and with other hospitality partners.
As Nepal’s financial sector continues its digital transformation journey, Citizens Bank remains at the forefront, blending innovation, customer service, and strategic partnerships to redefine the banking experience.
The collaboration between Citizens Bank International Limited and Teeka Resort is more than a promotional offer, it is a meaningful step toward driving digital financial literacy and usage in Nepal. By offering practical benefits like discounts in high-traffic tourist areas, the bank is making digital transactions more attractive and accessible. Coupled with its recent technological milestones and customer-focused services, Citizens Bank continues to demonstrate leadership in the evolving financial landscape of Nepal.
