ZB Financial Holdings (ZBFH), a financial services company based in Zimbabwe, has introduced Finastra Essence on the cloud as part of its digital service portfolio.

This collaboration intends to enhance ZBFH’s core banking system, streamline operations, and improve automation, thus boosting system availability, market entry speed, and staff readiness for future developments.

Facilitating financial inclusion in Zimbabwe

Finastra Essence is a cloud-based next-generation core banking solution that merges extensive features with advanced technology to boost productivity, cut costs, and enhance efficiency. This platform supports institutions by facilitating quicker deployment of products and services through its open microservices architecture and APIs.

The Finastra suite encompasses onboarding processes, online applications, integrated digital channels, user-friendly digital wallets, and a payment gateway. These tools help improve the online and mobile banking experience for customers while enabling ZBFH to contribute more effectively towards Zimbabwe’s financial inclusion goals.

With its modular architecture and API-driven ecosystem, Finastra Essence supports the deployment of applications such as lending platforms or digital wallets, providing clients with a foundation that can be tailored according to different demographics. Compliance with local regulations like The Banking Act and payment standards including ISO 20022, PAPSS, and SADC-RTGS is ensured by the solution.

In line with Zimbabwe’s growing, digitally savvy population, there is increasing demand for contemporary banking solutions. ZBFH sought a scalable and secure core banking system that optimizes operational efficiency and omnichannel banking support while driving its growth. Given Finastra’s customer-centric approach and reliability, the companies have been working together for over two decades to ensure a future-proof service environment that strengthens relationships with customers.