Digital Banking

Bank of Maldives selects Finastra for core banking

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August 5, 2026

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The Bank of Maldives has selected Finastra for its Essence platform for core banking. With this integration, Bank of Maldives aims to offer a flexible platform for customers, according to a press release.

"Bank of Maldives is a cornerstone institution in the country's financial sector, and we are delighted to support its modernization journey," Siobhan Byron, EVP of Universal Banking at Finastra, said in the release. "The selection of Finastra Essence reflects the strength of our open, flexible core banking platform and our ability to help financial institutions innovate at pace, while maintaining resilience and operational excellence. We look forward to helping the bank achieve its ambitious growth and transformation objectives."

It will be able to meet customers' needs more quickly with products, services, automation, and straight-through processing.

"At Bank of Maldives, our strategy is anchored in continuous innovation and delivering lasting value to the customers and communities we serve," Mohamed Shareef, CEO and managing director at Bank of Maldives, said in the release. "Our partnership with Finastra Essence represents a pivotal step in our digital transformation journey providing the agile, future-ready foundation we need to accelerate innovation, drive operational excellence, and expand our ability to deliver world-class financial services to customers nationwide."