British Caribbean Bank Limited (BCB) has recently announced a strategic partnership with Finastra, a global provider of financial software applications and marketplaces. The collaborative effort aims to revolutionise the bank’s core operations and back-office functions, ultimately driving new efficiencies, reducing costs, and enhancing team productivity.
BCB has chosen to implement Finastra Essence, powered by Microsoft Azure cloud, to facilitate this transformation. By leveraging the agility and scalability of cloud technology and Finastra’s advanced banking features, BCB will be able to streamline its operations and better connect with its customers, while maintaining compliance and adapting to regulatory changes in Turks and Caicos.
Marcus Samuel, Managing Director at British Caribbean Bank Limited, has expressed his enthusiasm for the partnership, stating, “To transform our core and enhance our operations, we needed an innovative partner to provide the expertise and tech stack required to complete our modernisation journey. Finastra Essence helps us go above and beyond by positioning our team to deliver both an enhanced customer experience and innovative products, all while being agile and quick to market as we grow.”
Finastra Essence is renowned for its cloud-first approach and advanced functionalities, which have been gaining prominence across the Caribbean region. Siobhan Byron, EVP, Universal Banking at Finastra, commented on the growing adoption of Essence, highlighting the increasing demand for core solutions that support digital transformation, agility, and connectivity to the financial ecosystem.
Through this partnership, BCB is not only preparing for sustained expansion but also enhancing its capabilities to adapt, thrive, and continue delivering top-notch financial services to its customers. This collaboration reflects a strong commitment to innovation and growth in the ever-evolving financial services landscape.
In conclusion, the alliance between British Caribbean Bank Limited and Finastra signifies a significant step towards modernising the bank’s core technology and ensuring long-term success in the dynamic financial industry. As financial institutions continue to embrace digital transformation, partnerships like this one will play a crucial role in driving innovation, customer satisfaction, and overall efficiency.