Collaboration Between Nepalese And Singaporean Companies To Reduce Crime In the Fintech Sector Techrida Inc., a Nepali IT and fintech service provider, has partnered with JFourth Solutions, a Singapore-based specialist in financial crime prevention (AML/CFT). These companies have recently partnered to reduce financial crime in the fintech sector in Nepal.
According to the partnership, necessary tools and training will be provided to financial institutions to prevent crimes such as money laundering and terrorist financing in the fintech sector of Nepal.
Techrida founder Rajendra Shrestha said that this collaboration will be established as an important step to ensure sustainability and stability in Nepal’s fintech industry. He mentioned that such a step is inevitable to make the fintech sector more secure as 5,312 cases of banking fraud and financial crimes were reported in Kathmandu Valley last year alone.
Similarly, Jayforth’s chief consultant, Julia Chin, said that under the plan to help financial institutions in Asia and Oceania in risk reduction, they have collaborated with the Nepali company Takerida.
Under this partnership, Takerida will develop state-of-the-art technology for Nepal’s financial institutions to meet local and international standards. Similarly, Jayforth will provide training programs for financial institutions to manage risk and comply with regulations.
