Customer story

IFIC Bank achieves 100% growth - powered by the strength of Finastra’s robust core banking solution

APIs
Customer Experience
Customer Insight
Efficiency & Operations
Innovation
Product Insight
About the Company
First-generation Bangladeshi
private commercial bank
Headquarters in Dhaka, Bangladesh
1,400 branches and uposhakhas
Established in 1976
www.ificbank.com.bd
IFIC Bank’s longstanding strategic partnership with Finastra is driving the success of the bank’s “Neighborhood banking” retail banking strategy, with its “one-stop shop” banking approach redefining the customer experience journey of its customers.

Hear from Monitur Rahman, Deputy Managing Director and Chief Information Officer at IFIC Bank, on how his financial institution is leveraging the open APIs from Finastra’s robust core banking solution to innovate new products, contributing to the tremendous achievement of 100% deposits and loan growth over the last five years.

So now, when actually we are saying these 1400 uposhakhas and branches is giving me $4.8 billion deposits and $4 billion loans, the growth has happened 100% from 2019 to this point. Technology was one of the key aspects for this growth, and the technology integration has worked well.

Monitur Rahman
Deputy Managing Director and Chief Information Officer, IFIC Bank

Achieved benefits:

  • Open APIs
  • Timely account openings
  • Timely loan disbursements
  • Supports innovation and growth

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