UCB Fintech Company Limited (upay), one of the mobile financial services (MFS) providers in the country, has announced the appointment of Rezaul Hossain as its managing director and chief executive officer.
A subsidiary of United Commercial Bank Limited, UCB Fintech Company Limited, has been offering MFS under the brand name ‘upay’.
A veteran in the telecoms and mobile financial service industry, Rezaul Hossain has 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, according to a press release issued on Sunday.
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 scratch to become the largest mobile financial service provider in the world by subscribers, agents and transactions numbers.
Commenting on the appointment, Chairman of the Board of Directors of UCB Fintech Company Limited Anisuzzaman Chowdhury said, “The board is delighted to welcome Rezaul Hossain to upay and we look forward to standing beside him to bring upay to a different height.”
Newly-appointed MD and CEO Rezaul Hossain said, “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 an MFS license from the Bangladesh Bank, the central bank of Bangladesh in December 2020. Since launching, the company has acquired around 4.0 million customers. upay has more than 100,000 agent points across the country.