Community Bank inks deal to implement Finacle Universal Biz Solution

Community Bank Bangladesh Limited, a concern of Bangladesh Police Kallyan Trust has signed a licensing agreement with Edgeverve Systems Ltd, a concern of Infosys for implementing renowned core banking system -Finacle Universal Banking Solution.

A formal agreement signing ceremony was held recently at the Bank's Head Office in Gulshan, Dhaka.

In the same occasion, a separate tripartite implementation agreement was also signed among Community Bank Bangladesh, IT Consultants Ltd. and BBSL to implement this Finacle Universal Banking Solution. Finacle is used over 100 countries by renowned banks and financial institutions serving 1.03 billion consumers worldwide. It has a reputation of being scalable, stable, highly secured, modular structure and open API.

"Community Bank Bangladesh Limited aims to offer a world-class banking solution to its customers. It will undertake a business model where funds will be channelized from urban to rural communities and in turn the communities from the distant locations will get the services and facilities of digital banking solutions. Implementation of a state-of-the-art CBS with centralized approach will enable the operation to manage in scalable manner," said a statement.

Dr. Mohammad Javed Patwary BPM (Bar), Inspector General, Bangladesh Police and Chairman of Community Bank Bangladesh Limited was present in the signing ceremony as the Chief Guest. Masihul Huq Chowdhury, Managing Director & CEO signed the agreements on behalf of Community Bank Bangladesh. Suketu Bharatia of Edgeverve Systems Ltd., Dr. Kazi S Munir, Managing Director & CEO of IT Consultants Ltd., and Gnana SS, Chief Executive Officer of BBSSL signed the agreements on behalf of their respective organizations.