NRB Bank Upgrades Core Banking Platform

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.

According to a media release, this will be the first deployment of FLEXCUBE UBS 14.8 in Bangladesh. The move is part of the bank’s ongoing initiative to strengthen its digital banking capabilities and modernise its technology infrastructure.

The agreement was signed at a ceremony in Dhaka, where NRB Bank Managing Director Tarek Reaz Khan and Data Edge Limited Chairman Noor Alam Chowdhury exchanged documents on behalf of their respective organisations.

The ceremony was attended by senior officials from the participating entities. Representing NRB Bank were Deputy Managing Directors Md Shaheen Howlader, Anwar Uddin and M. Rashidul Huda. From Data Edge Limited, Managing Director Asifuzzaman and Chief Business Officer Asim Talukdar were present. OFSS was represented by 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.

Noor Alam Chowdhury 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 systems such as Oracle FLEXCUBE are central to the functioning of financial institutions, enabling the management of customer accounts, transaction processing, and compliance requirements. Upgrades to newer versions are typically undertaken to improve operational efficiency, system resilience, and service delivery capacity.

Summary of the Agreement

The upgrade is expected to support NRB Bank’s objective of aligning its operations with contemporary digital banking standards while enhancing overall service efficiency.