Bank of Maldives taps Finastra to upgrade core systems
Bank of Maldives (BML) has selected Finastra Essence to upgrade its core banking systems as part of its long-term digital transformation strategy. The deal aims to help BML bring new products and services to market faster and improve operational efficiency across both conventional and Islamic banking operations. Finastra's platform will simplify processes and enable straight-through processing, allowing relationship managers to respond to changing customer needs. BML CEO Mohamed Shareef called the partnership a pivotal step in the bank's digital journey, providing an agile, future-ready foundation. Finastra Universal Banking EVP Siobhan Byron highlighted the platform's open, flexible architecture. The announcement follows Pollen Street Capital's recent agreement to acquire Finastra's Universal Banking business, which serves over 150 clients in more than 100 countries.
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