Dhaka : United Commercial Bank PLC (UCB) has ushered in a transformative chapter in the country’s banking sector. Following the successful completion of a Core Banking System (CBS) upgrade between June 9 and June 14, UCB has resumed full operations from June 15 with enhanced, intelligent, and future-ready digital banking services. Through this upgrade, UCB has launched the first microservices-based open API banking platform in Bangladesh and has become the sixth institution globally to adopt and implement this latest version of FCUBS 14.7. At a press briefing held at the bank’s head office, detailed information regarding the occasion was presented. It was announced that, as part of its digital banking transformation, UCB has successfully upgraded its FlexCube Universal Banking Solution (FCUBS) from version 12.2 to version 14.7. Through a microservices architecture, UCB can now manage each core banking function—such as account opening, loan processing, or security verification—as independent modules. This architecture allows for faster feature deployment, improved technical resilience, and greater capacity to serve large volumes of customers concurrently, reports BSS.
Meanwhile, open API banking enables UCB to securely exchange data and services with third-party apps and fintech platforms—subject to customer consent. This opens up a new world of possibilities for customers, including: Tailored and personalized financial services; Seamless integration across multiple platforms and applications; Greater control over their banking experience; Opportunities to engage with innovative fintech and startup solutions.
UCB’s Managing Director and CEO Mohammad Mamdudur Rashid added: “This achievement is not just a technological upgrade—it represents a bold step forward for the entire financial sector of Bangladesh. By embracing a modern, customer-centric banking model, we aim to set a benchmark that inspires innovation and service excellence across the industry.”
Also speaking at the event were Md. Abdullah Al Mamoon, Deputy Managing Director and Chief Operating Officer of UCB, along with senior representatives from Oracle, the bank’s technology partner for the transformation project. Top officials from both UCB and Oracle were present.
