ComBank Bangladesh selects Digital Payment Services to develop digital banking platform for Bangladesh

Award winning fintech software development provider Digital Payment Services (Pvt) Ltd (DPS) has been selected to custom develop a comprehensive digital banking platform for Commercial Bank of Ceylon Bangladesh. The solution will be the first of its kind in Bangladesh, incorporating a number of innovative features to improve the speed of on boarding new customers as well as introducing new banking products and services.

Over the past several years DPS has been recognized as one of the leading local FINTECH services providers working closely with several financial institutions, both locally and in the region. In Sri Lanka, DPS is the digital banking solution provider to Commercial Bank of Sri Lanka, having developed the innovative “Flash Digital Bank” platform that is used by many customers across the country.

“Bangladesh offers a number of interesting avenues for a digital banking solution provider,” said Mufaddal Lukmanjee, CEO DPS (Pvt) Ltd. “Most exciting being the possibility of using biometric or facial recognition as a part of the onboarding process to allow faster and more secure Know Your Customer (KYC). We are privileged to work with the Commercial Bank Bangladesh team at this critical juncture in their digitization journey, where the entire country is on the cusp of becoming a regional hub for commerce.”

“In Bangladesh we currently operate out of 19 branches across a country of 164 million people,” Najith Meewanage, CEO Commercial Bank Bangladesh. “The digital banking platform will enable us to reach more potential customers without having them visit a branch in person. It will also allow us to roll out new services to our customers fast and ensure a better customer experience.”

Commercial Bank Bangladesh has been rated AAA for 11 consecutive years by CRISL (a renowned rating agency in Bangladesh). It has also received two awards as the “Best foreign bank in Bangladesh” by two UK based rating agencies, Global Business Outlook Awards and Global Economics Ltd, and “Most Sustainable Bank in Bangladesh” from Dubai based International Business Magazine Awards in 2021, an indication of the bank’s sustainable and stable growth in the last few years.