United News of Bangladesh

National Credit and Commerce Bank PLC (NCCB) has announced a landmark digital transformation initiative, marking a significant step forward in its commitment to enhanced technological infrastructure and superior customer experiences. NCCB formalized its partnership with Flora Systems Limited through the Agreement signing ceremony at NCCBL Headquarters, Motijheel. This partnership aims to bolster NCCB's operational efficiency and service quality via the deployment of Flora Systems' advanced core banking solutions. Concerns raised over interviewees for BFIU head position The agreement was signed by M Shamsul Arefin, Managing Director, NCCBL and Mustafa Rafiqul Islam, Chairman & Managing Director, Flora Systems Limited. NCCB has been utilizing FloraBank CBS since 2008, having replaced the foreign CBS MicroBanker. For this latest upgrade, Flora Systems successfully competed against globally renowned core banking solutions from Oracle, Temenos and others, underscoring the robustness and competitive value of Flora Systems' locally developed CBS. As part of the arrangement, Flora Systems will implement its FloraBank Core Banking System (CBS) across NCCB’s operational landscape, upgrading the system from version 18.4 to 22.4. This transition is self-assured to strengthen service quality, enhance operational efficiency, and strengthen security, aligning with NCCB’s focus on innovation and customer-centric solutions. FloraBank CBS is recognized as Bangladesh’s leading core banking platform, designed to support secure, multi-currency transactions, comprehensive security measures, and robust fraud prevention tools to ensure a secure financial environment. This locally developed solution is currently deployed as a full CBS solution across 8 major banks in Bangladesh, with additional services provided to 7 other financial institutions. Another 4% hike in annual increment recommended for RMG workers Beyond the core banking upgrade, Flora Systems through its FloraBank CBS will introduce a comprehensive suite of digital banking services, including an integrated Treasury System, upgraded BEFTN, BACH & MICR with Nikash, AML and Screening System, MIS and Regulatory Reporting with advanced design tools, Fixed Asset Management, Agent Banking, Internet Banking, Mobile Wallet, Management Dashboards, and additional features to further enhance NCCB’s digital capabilities. This strategic digital transformation with Flora Systems Limited is a testament to NCCB’s dedication to adopting innovative, technology-driven banking solutions that will empower its customers and improve service delivery.

The NCC Bank, a private sector scheduled bank, celebrated its 29th anniversary with a promise to provide technology based secured customer services of banking products. The bank is also going to introduce Islami banking window as per the central bank approval to meet the desired service of Islami Banking for its customers. Also read:Despite taka depreciating, banks selling dollars at Tk3-4 extra  Mohammad Mamdudur Rashid, Managing director and Chief Executive Officer (CEO) told this in a press briefing on the occasion of the anniversary, held at the NCC bank Building in Motijheel on Tuesday. He gave an outline of the bank’s success stories of 29 year journey and he expressed gratitude and thanks to the clients, directors, officials and employees of the bank for remaining with the bank. He disclosed that the bank has implemented Bangladesh Bank’s instructed salary structure in all the levels of the bank. Also read: BB asks banks to ensure smooth online service during Eid vacation Despite limitations in the Covid-19 pandemic situation NCC Bank has made operational profit of tk700 crore. The bank started its journey on May 17, 1993 as national credit and commerce or NCC Bank. In the inception the bank had 16 branches and now it stood 125 complete branches, 6 sub-branch.