Zimbabwe’s ZB Financial Holdings (ZBFH) has modernised its core banking infrastructure with the implementation of Finastra’s Essence solution deployed on the Microsoft Azure cloud.
ZBFH’s CEO, Dr Shepherd Fungura, says Zimbabwe has a “fast-evolving digital and environmentally conscious population, and regulatory landscape”, adding that this core banking upgrade will enable the company “to keep pace with the demands of modern banking”.
The Essence platform ensures ZBFH’s compliance with local regulations and supports international payment standards, including ISO 20022. Additionally, the microservices architecture underpinning the solution is expected to expedite ZBFH’s product development capabilities.
As part of this technology transformation, ZBFH has also adopted additional Finastra digital products to boost its operational efficiency and omnichannel banking experiences. Finastra’s services suite includes a digital wallet interface, customer onboarding processes, online application systems, integrated digital channels, and a payment gateway.
Established in 1951, ZBFH offers an array of financial services, such as banking, insurance, investments, and wealth management. The company’s mobile application, MyZB, provides customers with money transfer capabilities, loan services, and various payment options.
Source: https://www.fintechfutures.com/
