UCB Launches Bangladesh’s First Microservices-Based Open API Banking Platform
United Commercial Bank (UCB) has introduced Bangladesh’s inaugural microservices-oriented Open API Banking platform, marking it as the sixth institution worldwide to implement the latest iteration of FCUBS 14.7.
Details about this initiative were shared during a press conference held at the bank’s headquarters on June 15th. As part of its digital banking transformation, UCB has elevated its FlexCube Universal Banking Solution (FCUBS) from version 12.2 to 14.7.
“This is more than just a technical upgrade; it’s a significant step forward for the entire financial landscape in Bangladesh,” stated Mohammad Mamdudur Rashid, the Managing Director and CEO of UCB. “By adopting a customer-oriented banking model, we aim to create a standard that encourages innovation and improved services.”
The implementation of a Microservices architecture enables UCB staff to handle core banking operations—like account creation—independently, along with loan processing and security checks. This setup enhances the ability to roll out new features swiftly, boosts technical resilience, and allows the bank to serve a larger customer base simultaneously.
Additionally, the Open API Banking functionality facilitates UCB’s secure data and service exchange with third-party applications and FinTech platforms, with the necessary customer consent. This opens up a range of new possibilities for clients, including seamless integration across platforms, better control over their banking experiences, and opportunities to engage with innovative fintech solutions.
The event also included MD Abdullah Al Mamoon, UCB’s Associate Managing Director and Chief Operating Officer, along with senior representatives from Oracle, the bank’s technology partner for this transformation. Key personnel from both UCB and Oracle were in attendance.
Having successfully completed the Core Banking System (CBS) upgrade from June 9th to 14th, UCB has strengthened its operations since June 15th and is now fully functional with its advanced, future-ready digital banking services.
