Midland Bank PLC (MDB) signed a Memorandum of Understanding (MoU) with Brac IT Services Limited (Brac IT) on November 4, for potential collaboration in software development and technology-driven banking solutions.
Md Nazmul Huda Sarkar, deputy managing director & chief technology officer of Midland Bank PLC, and Shahriar Hoque, chief executive officer of Brac IT, signed the agreement on behalf of their respective organizations in the presence of Imtiaz U Ahmed, managing director of Midland Bank PLC.
The agreement aims to establish a framework for exchanging business, technical, financial, and operational information between the two organizations while maintaining confidentiality.
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 provide customers with more convenient and secure banking experiences.
Md Rashadul Anwar, vice president, coordinator of Retail Distribution Division (RDD) & head of public relations division (PRD), and Omar Sharif, vice president & head of information technology (IT) of Midland Bank PLC, were present at the signing ceremony.
From Brac IT, Sadat Adnan Ahmad, chief business transformation officer, and Md Abid Hossain Khan, chief financial officer, attended the ceremony.
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.