Home News & events Press Releases 2014 NRB Bank launches its in-house processing centre on TranzWare from Compass Plus

 

nrbNRB Bank launches its in-house processing centre on TranzWare from Compass Plus

Compass Plus, an international provider of innovative retail banking and electronic payments software for financial institutions and processors, has announced that NRB Bank in Bangladesh has launched its in-house processing centre built on TranzWare products from Compass Plus in just three months.

The project, which was implemented in collaboration with ITCL - Compass Plus’ distributor in Bangladesh, went live at the end of August when the bank launched its EMV Visa debit card. The bank also added an EMV Visa credit card to its portfolio in October. NRB Bank chose to bring its previously outsourced processing centre in-house to give themselves more control over their processing operations and the flexibility to grow the functionality of their current portfolio as well as to quickly deliver new products and services to market. The bank is also planning to launch 3D Secure technology for its Visa cards in the near future, offering its customers an extra layer of security whilst making transactions online.

Mamun Seraji, Executive VP, Head of IT & ADC Operations of NRB Bank and Project Manager for CMS Project, said: “The agility that TranzWare offers us has been showcased in the extremely short timeframe it took to launch our in-house processing centre, and further confirmed by the quick implementation of our EMV Visa debit and credit cards. We look forward to continuing our partnership with both Compass Plus and ITCL and have a number of projects planned for the future.”

Muklesur Rahman, Managing Director & CEO of NRB Bank, said: “Our aim is to bring a Bangladeshi bank up to international standards and make NRB Bank globally recognised. In order to build such a sustainable business we will invest in our brand, people and technology. NRB Bank selected TranzWare solutions to cater to the wider needs of our customers. TranzWare was the base that helped to design the overall model of our card business, which we are in the process of launching phase by phase. As a new bank it was our challenge to step into the market very fast with the latest technology, which is something we have achieved with the help of ITCL and Compass Plus.”

Dr. Kazi Saifuddin Munir, Managing Director & CEO of ITCL, said: “We have a very successful partnership with Compass Plus and have worked with them for over 10 years. The relationship we have has meant that when NRB Bank decided to move their processing centre in-house, we knew that Compass Plus software would provide them with the flexibility they needed to deliver innovative products and services to their customers quickly and efficiently.”

About NRB Bank:
Established in 2013, NRB Bank offers corporate, SME, retail, NRB and premium banking to meet the needs of a broad customer base. With a mission to build long term commitment with their clients, NRB Bank provides the right solutions that combine professionalism, expertise and financial strength, and aims to be the preferred provider of financial services in the region with the motto ‘Not just another bank’ through its core values: dynamic, innovative, global, integrity and techno-centric .

http://www.nrbbankbd.com

About ITC:
IT Consultants Limited, which introduced its technology and business operations to the market in 2001, provides an end-to-end automated transaction solution. ITCL is the only licensed Payment Service Operator (PSO) in Bangladesh authorised and approved by the Central Bank of Bangladesh. On top of that, ITCL is the only domestic payment gateway to be PCI-DSS (Payment Card Industry Data Security Software) certified. ITCL provides a variety of payment processing solutions comprising debit/credit card operating and processing system, banking technology and information solution, as well as solutions for chip and magnetic stripe card personalisation, key management solutions, international standards and compliance on ATM (Wincor Nixdorf) installation and maintenance, EFTPOS (Electronic Fund Transfer at the Point of Sale) machine installation and maintenance, and also the entire transaction processing. ITCL also provides consultancy to financial institutions with certifications and Visa, Master Card, and Union Pay for both issuer and Acquirer licenses.

www.itcbd.com

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