Dhaka: UCB Fintech Company Limited (upay), one of the fastest growing mobile financial services provider in the country, today announced the appointment of Rezaul Hossain as Managing Director and Chief Executive Officer, effective immediately.
UCB Fintech Company Limited, a subsidiary of United Commercial Bank Limited has been offering Mobile Financial Services (MFS) under the brand name ‘upay’.
A veteran in telecoms and mobile financial service industry, Rezaul Hossain brings in more than 26 years of leadership experience in sales, marketing, products, and distributions while working for many top local and multinational companies, including Grameenphone, Citycell, Airtel and bKash. He has played an instrumental role in shaping the ever evolving telecommunications and financial technology landscape in the country though his innovative, powerful, and dynamic leadership.
Prior to joining upay, Rezaul Hossain was involved with several enterprises, including ‘Nagad’, a Bangladesh Post Office backed digital financial service startup which he had co-founded in 2018 with a group of Bangladeshi entrepreneurs.
Previously, Rezaul Hossain led the commercial division of bKash from 2011 to 2017 as the Chief Commercial Officer and helped the company to grow from the scratch to become the largest mobile financial service provider in the world by subscribers, agents and transactions numbers. Under his able leadership, bKash acquired over 22 million customers within the first five years of its operation. He has helped bKash to build a strong distribution network across the country transforming and making bKash an inevitable part of the financial landscape in the country.
Commenting on the appointment, Anisuzzaman Chowdhury, Chairman of the Board of Directors of UCB Fintech Company Limited said, “The board is delighted to welcome Rezaul Hossain to upay and we look forward to stand beside him to bring upay to a different height. Rezaul Hossain is a highly accomplished business leader and brings a wealth of skills and experience that will take us to our strategic goal in becoming one of the leading mobile financial service companies of Bangladesh. His exceptional telecommunications and MFS background along with a record of building and scaling up business from scratch to success will surely create a strong foothold for upay in country’s digital finance landscape.”
Commenting on his appointment, Rezaul Hossain said, ‘I am happy to join upay. Despite a new financial service brand, I believe upay has a huge potential to disrupt the market. As I have a long vision for the advancement of the country's financial technology sector, I would like to dedicate my experience, expertise and industry knowledge to help upay grow and reach its full potential through bringing delightful experiences to our customers”.
upay launched its commercial operation in March 2021 after securing a MFS license from the Bangladesh Bank, the central bank of Bangladesh in December 2020. Since launching, the company has acquired around 40 lakhs customers. upay has more than one lakh agent points across the country.
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