UCB launches Bangladesh's first microservices-based open API banking platform

United Commercial Bank (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 at the bank's head office today (15 June), detailed information regarding the initiative 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.

UCB's Managing Director and CEO Mohammad Mamdudur Rashid said, "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,"

UCB officials said that 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.

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 personalised financial services; seamless integration across multiple platforms and applications; greater control over their banking experience; opportunities to engage with innovative fintech and startup solutions, they said.

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.

Following the successful completion of a Core Banking System (CBS) upgrade between 9 and 14 June, UCB has resumed full operations from 15 June with enhanced, intelligent, and future-ready digital banking services.