Photo: Collected
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. 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.
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.
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