Midland Bank PLC (MDB) has signed a Memorandum of Understanding (MoU) with BRAC IT Services Limited (BRAC IT) to explore potential collaboration in software development and technology-driven banking solutions.
The agreement was signed on Wednesday by Md Nazmul Huda Sarkar, deputy managing director and chief technology officer of Midland Bank, and Shahriar Hoque, chief executive officer of BRAC IT, on behalf of their respective organisations.
Imtiaz U Ahmed, managing director of Midland Bank, was present at the signing ceremony.
The MoU aims to establish a framework for exchanging business, technical, financial and operational information between the two organisations while maintaining confidentiality, reads a press release.
It will facilitate discussions on potential software development projects, technology integration and other digital initiatives, while ensuring the protection of sensitive information shared during the evaluation and planning stages.
Through this collaboration, Midland Bank aims to explore innovative technology solutions to strengthen its digital banking infrastructure, improve operational efficiency, enhance service delivery and offer customers more convenient and secure banking experiences.
Md Rashadul Anwar, vice president, coordinator of the Retail Distribution Division (RDD) and head of the Public Relations Division (PRD), and Omar Sharif, vice president and head of Information Technology (IT) of Midland Bank, were also present at the ceremony.
Representing BRAC IT, Sadat Adnan Ahmad, chief business transformation officer, and Md Abid Hossain Khan, chief financial officer, attended the event.
The initiative reflects Midland Bank’s continued commitment to embracing technological advancements, strengthening its digital capabilities and exploring strategic partnerships to support innovation and sustainable growth in the banking sector.
