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October 30, 2014updated 04 Apr 2017 4:05pm

NRB Bank launches in-house processing center using Compass Plus’ TranzWare software

NRB Bank, a bank in Bangladesh, has started off its in-house processing center built on TranzWare products from Compass Plus in just three months.

By Verdict Staff

NRB Bank, a bank in Bangladesh, has started off its in-house processing center built on TranzWare products from Compass Plus in just three months.

Compass Plus is a global provider of retail banking and electronic payments software for financial institutions and processors.

IT Consultants, a partner of Compass Plus, also helped in realization of the project that went online in August.

NRB Bank also added EMV Visa debit and credit cards to its portfolio in August and October, respectively.

The bank chose to bring its previously outsourced processing center in-house to get more control over its processing operations and flexibility to grow the functionality of its current portfolio, while quickly delivering new products and services.

In addition, the bank plans to launch 3D Secure technology for its Visa cards to ensure added security to its customers during online transactions.

Muklesur Rahman, managing director and 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.

"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."

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