ASBA application via mobile banking application Qorus-Infosys Finacle Banking Innovation Awards 2025

In Nepal, the Application Supported by Blocked Amount (ASBA) system is used for applying to Initial Public Offerings (IPO), Further Public Offerings (FPO), Rights Shares, and Mutual Funds through authorized banks. The process is regulated by Securities Board of Nepal (SEBON) and implemented in coordination with Central Depository System and Clearing Limited (CDSC). Through the integration of ASBA with the bank’s Mobile Banking app and subsequently the Core Banking System (CBS), customers can apply for share issued conveniently and securely, while funds remain blocked in their account until allotment without the need of any bank staff to manually process the application. Instead, the application amount is automatically blocked in the applicant's bank account until the IPO allotment process is complete. During allotment if the customer is allotted the shares, the blocked amount is automatically debited and if not allotted the blocked amount is released. This improves efficiency, transparency, and fund security. Integrating ASBA into mobile banking and directly integrating it to the CBS creates a seamless, secure, and real-time experience for users. Benefits: • For Customers: o Convenience of applying via mobile anytime, anywhere. o No need to transfer funds upfront or visit a branch. o Funds remain in their account until IPO allotment. • For Banks: o Improved customer engagement with digital services. o Reduced operational overhead through automation. o Enhances the efficiency and reduces the staff engagement. o Enhanced security and compliance with regulatory norms. • For Regulators and Issuers: o Streamlined process improves transparency. o Ensures better oversight and reduces manipulation risks.