CBBL inks 3 deals for seamless banking

To offer its customers a seamless banking experience, the newly-approved Community Bank Bangladesh Limited (CBBL) has partnered with two Karnataka-based Indian companies Edgeverve Systems Limited (ESL) and Best of Breed Software Solutions (BBSSL).

The newly-approved CBBL of Bangladesh Police Kalyan Trust was listed as scheduled bank by Bangladesh Bank in November 2018.

With an aim to implement world-class banking solution, CBBL signed a licensing agreement with ESL the Bank’s head office in city’s Gulshan on Thursday, for implementing renowned core banking system – Finacle Universal Banking, says a press release sent to media from Police Headquarters in the city on Friday.

CBBL Managing Director Masihul Huq Chowdhury, Suketu Bharatia of Edgeverve Systems Ltd, IT Consultants Ltd CEO Dr Kazi S Munir, and BBSSL CEO Gnana SS signed the agreements on behalf of their respective organisations.

Mentionable, Edgeverve Infosys is a subsidiary of multinational Indian corporation Infosys Limited that provides business consulting, information technology and outsourcing services across the globe while BBSSL is a software product and Software services company.

On the same occasion, a separate tripartite implementation agreement was also signed among CBBL, IT Consultants Ltd and BBSL to implement the universal banking solution. 

Finacle Universal Banking is used over 100 countries across the globe 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.

According to the release, CBBL 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 at the same time, the communities from the distant locations will get the services and facilities of digital banking solutions. 

Implementation of a state-of-the-art Core Banking System with centralized approach will enable the operation to manage in scalable manner.    

CBBL Chairman and also Inspector General of Bangladesh Police Dr Mohammad Javed Patwary was present at the signing ceremony as the chief guest. 

RAB DG Dr Benazir Ahmed Additional IGP (Finance & Development) Dr Md Moinur Rahman Chowdhury, Additional IGP (Railway) Md Mohsin Hossain, Dhaka Range DIG Chowdhury Abdullah Al-Mamun, Dhaka University Professor Shibli Rubayat Ul Islam, banker Fazle Rashid, and United International University teacher Ahmedul Kabir, among others, were also present on the occasion.