November 17, 2021

Community Bank wins prestigious Infosys-Finacle Innovation Awards for the consecutive second year

Community Bank Bangladesh Limited has been declared as the winner of globally acclaimed Infosys Finacle Innovation Awards 2021 in three (3) categories:

Channel Innovation for Financial Inclusion Leveraging Technology
COVID Response Innovation for Innovative Banking During the Pandemic
Ecosystem-led Innovation for Customer Service Anytime Anywhere
Community Bank has won those awards primarily due to its successful roll out of its ‘digital-first’ strategy to serve its customers from the alternate delivery channels. Infosys received 270 nominations in 10 categories from reputed banks all over the world, of which, from Bangladesh Community Bank received three awards in different categories. Commencing its commercial operation in September 2019, Community Bank has reached out to 64 district with 18 branches, 165 ATMs, 110 service desks, 24/7 contact center and its popular mobile application styled ‘Community Cash’. More than 99% of the Bank’s transactions now generating from alternate delivery channel, mainly from its mobile application ‘Community Cash’ and ATM network. 55% of the bank’s total transactions are now performing from Community Cash and 44.2% from ATMs located in 64 districts and less than 1% transactions are generating from conventional branch counters. Community Bank is managing the payroll of Bangladesh Police, where the Bank’s customers are located all over the country. Due to round-the-clock availability of the service from anywhere, majority of the customers could avail uninterrupted, hassle-free and safe banking service during Covid-19 pandemic.
Commenting on this Mr. Masihul Huq Chowdhury, Managing Director & CEO of Community Bank said, “Community Bank Bangladesh commenced its commercial journey with a promise to serve customers with a unique digital banking experience. Leveraging on a cutting-edge core banking system developed by Infosys Finacle enabled us to offer customized solutions even under a stressed situation of COVID-19. We are serving more than 99% of our customers from digital platforms ensuring round-the-clock banking services with no practical downtime. A significantly large portion of our customers are newly on-boarded to formal banking channel of which more than 72% are now actively using our mobile application to perform banking transactions. This is a unique example in the banking industry in Bangladesh.”