NRB Bank PLC has signed an agreement with Oracle Financial Services Software (OFSS) and its local partner Data Edge Limited to upgrade its core banking system to Oracle FLEXCUBE UBS Version 14.8.
The development represents the first implementation of FLEXCUBE UBS 14.8 in Bangladesh, according to a media release. The upgrade forms part of the bank’s ongoing efforts to enhance its digital banking capabilities and modernise its technology infrastructure.
The agreement was executed at a signing ceremony held in Dhaka. NRB Bank Managing Director Tarek Reaz Khan and Data Edge Limited Chairman Noor Alam Chowdhury formally exchanged the agreement documents.
Senior representatives from both organisations and the technology provider attended the event. From NRB Bank, Deputy Managing Directors Md Shaheen Howlader, Anwar Uddin and M. Rashidul Huda were present. Data Edge Limited was represented by Managing Director Asifuzzaman and Chief Business Officer Asim Talukdar. Representatives of OFSS included K Rajesh Kumar, Saujato Guin and Satish Krishnamoorthy.
“This initiative reflects NRB Bank’s commitment to digital transformation and our dedication to meeting the growing expectations of our valued customers,” said Tarek Reaz Khan, Managing Director of NRB Bank PLC.
Noor Alam Chowdhury, Chairman of Data Edge Limited, stated: “We are fully committed to ensuring the successful and timely implementation of this project, and confident it will deliver tremendous value for NRB Bank and its customers.”
Core banking platforms such as Oracle FLEXCUBE are integral to banking operations, supporting functions including customer account management, transaction processing, and regulatory reporting. Upgrading to a newer version typically enables improved system performance, enhanced security, and greater scalability, which are essential for handling increasing transaction volumes and evolving service demands.
Agreement Overview
| Component | Details |
|---|---|
| Institution | NRB Bank PLC |
| Solution Provider | Oracle Financial Services Software (OFSS) |
| Implementation Partner | Data Edge Limited |
| System Version | FLEXCUBE UBS 14.8 |
| Signing Venue | Dhaka |
| Key Signatories | Tarek Reaz Khan; Noor Alam Chowdhury |
| Distinct Feature | First deployment of UBS 14.8 in Bangladesh |
The initiative is expected to contribute to NRB Bank’s efforts to strengthen operational efficiency and align its services with contemporary banking technology standards.