News

Ambitious Bangladeshi bank adopts EMV via TranzWare

August 24, 2016

Compass Plus, a provider of retail banking and e-payments software, has announced that Mutual Trust Bank Ltd., one of the top five retail banks in Bangladesh, has migrated its in-house processing center to TranzWare from Compass Plus.

The project, which was implemented in collaboration with ITCL — a Compass Plus' distributor in Bangladesh — went live in May with the bank's issuance of MasterCard EMV chip cards.

Compass Plus and ITCL supported MTB through certifications with Visa and MasterCard for EMV card issuance and the acceptance of EMV Visa cards, and migrated the FI's 200,000-card base to the new platform.

The bank plans to implement 3D Secure and pursue acquiring certification with MasterCard in the near future.

"MTB is growing fast and aims to become one of the top three banks in Bangladesh," said managing director and CEO Anis A. Khan. "By migrating our processing center to Compass Plus software, we have certainly put ourselves on the right path to be able to achieve this objective, and are looking forward to implementing new innovative products that will really benefit our customers."