Finastra not too long ago introduced that The Belize Financial institution Restricted, one of many largest banks in Belize, offering retail, company and business banking providers, efficiently migrated the enterprise of Scotiabank (Belize) Restricted onto the Fusion Essence core banking platform following an acquisition facilitated by its dad or mum firm, Caribbean Investments Holdings Restricted (CIHL).
After migrating its legacy core to Fusion Essence in 2017, Belize Financial institution has prolonged its collaboration with Finastra to carry Scotiabank (Belize) onto the next-generation core banking answer.
“Fusion Essence offers a visionary answer for a visionary financial institution,” mentioned Jose Cardona, Chief Info Officer, Belize Financial institution. “Our transformation required a platform that may permit us to increase our presence each domestically in Belize in addition to within the wider area. Fusion Essence offers that platform; it allows us to launch merchandise quickly into the market.”
Belize Financial institution chosen Finastra’s Fusion Essence core banking answer to modernize its banking infrastructure and to reinvent its enterprise with cutting-edge capabilities and a renewed concentrate on the shopper expertise. To develop in a market dominated by a small group of banks and to counteract the monetary impression of COVID-19 on the Belizean economic system, the financial institution noticed alternatives to spice up operational effectivity, develop revolutionary cellular banking providers and develop its enterprise by acquisition.
“Fusion Essence supplied Belize Financial institution the pliability and agility wanted to increase to accommodate deliberate acquisitions,” mentioned Narendra Mistry, Chief Product Officer, Common Banking at Finastra. “After we first began working with the financial institution, our joint success was depending on a sturdy implementation plan constructed on greatest practices to make sure a clean transition to the brand new platform. These identical rules enabled the migration of accounts and knowledge related to Scotiabank (Belize) Restricted onto the platform, leading to a seamless transition inside an aggressive timeframe of underneath 12 months.”