UCB Ushers in a New Era with Microservices-Based Open API Banking Platform
United Commercial Bank PLC (UCB) has launched the country’s first microservices-based Open API banking platform, marking a significant leap toward modern, technology-driven financial services in Bangladesh.
At a press conference held on Sunday, June 15, at the bank’s head office in Gulshan, UCB officials shared details about the initiative. The event was attended by UCB’s Managing Director and CEO Mohammad Mahmudur Rashid, Deputy Managing Director and Chief Operating Officer Md. Abdullah Al Mamun, senior representatives from Oracle—technical partners of the digital transformation project—and other top executives from both organizations.
“This achievement is not just a technological advancement but a milestone in delivering modern, innovative, and customer-centric banking in the country’s financial sector,” stated UCB’s Managing Director and CEO, Mohammad Mahmudur Rashid. “We aim to set a benchmark that will inspire the entire sector to innovate and enhance customer service.”
During the briefing, it was revealed that UCB has significantly upgraded its Core Banking System (CBS) to the latest version 14.7 of the FlexCube Universal Banking Solution (FCUBS). With this upgrade, UCB has joined the ranks of globally leading institutions utilizing this advanced version. The new platform is powered by microservices architecture, where each banking service—such as account opening, loan processing, and security checks—is handled as an independent unit, ensuring faster, more efficient, and stable operations.
When asked about customer benefits, UCB’s Chief Communication Officer Zeeshan Kingshuk Huq explained, “With Open API technology, UCB customers will experience three key advantages. First, more users can access services simultaneously without the system slowing down. Second, third-party applications and fintech platforms can connect securely with us, with customer consent. Third, this enables safe exchange of data and services, resulting in increased security.”
He added that customers will benefit from personalized financial services, seamless integration across various apps and platforms, greater control over banking services, and opportunities to engage with innovative fintech firms and startups.
It is noteworthy that UCB is the first bank in Bangladesh to implement Oracle’s latest offering, making it the first in South Asia and sixth globally to do so.
