Belize Bank Group has gone live with Finastra Essence, a core banking system provided by Finastra, at its two entities – Belize Bank and Belize Bank International.
The bank is a long-standing customer of Finastra. It’s been running the vendor’s earlier iteration of the system, called Fusionbanking Essence and supplied by Misys, for over a decade. Misys later became part of Finastra and the system was rebranded as Essence.
Filippo Alario, executive chairman of Belize Bank, says the implementation is “about more than technology”.
“With Finastra Essence, we’ve reduced IT overhead, accelerated our time-to-market, and laid the foundation for scalable, AI-ready banking services,” Alario says. “Our IT staff are now focused on building the future of banking in the region.”
Among the benefits of the upgraded solution, Finastra cites enhanced reliability thanks to the core system’s cloud infrastructure, faster rollout of new products, improved digital experience, and omnichannel convenience.
Belize Bank is the country’s first and oldest continuous banking institution, with history dating back to the early 1900s. Today, its market share stands at 44%, making it the largest commercial bank in Belize. It provides a full range of retail and commercial banking services and has a network of 11 branches.
Launched in 2006, Belize Bank International offers credit facilities to non-residents and international banking to individuals and businesses.
Source: https://www.fintechfutures.com/
