- The project enables the rapid rollout of market-leading enterprise capabilities
FLORIDA, USA – Finastra, a global leader in financial services software, today announced British Caribbean Bank (BCB), a Turks and Caicos-based financial institution focused on delivering innovative banking products to its customers, has successfully gone live with Finastra Essence, a next-generation core banking platform. This move signifies a major step in democratizing access to enterprise-grade technology for small banks, empowering BCB to compete and innovate at the same level as larger financial institutions.
Finastra Essence provides BCB with rich, broad functionality that enables the rapid development of innovative products and the ability to quickly embrace new routes to market. The platform’s flexibility and scalability allow BCB to respond swiftly to evolving market conditions and customer needs without needing to resort to costly, time-consuming development projects. This means BCB can enable its existing staff to focus on customer value, while operating efficiently, strategically, and proactively.
“In partnering with Finastra, we’ve been able to significantly transform our core banking operations,” said Marcus Moxey, managing director of BCB. “Essence’s comprehensive functionality allows us to create and deliver new products quickly and react swiftly to market shifts. The platform’s automation and ease of use mean our team can be more strategic and responsive, challenging the notion that size defines capability.”
Essence’s highly automated and intuitive design simplifies daily operations, reduces the need for extensive staff training, and guides staff seamlessly through complex workflows. It also helps banks stay ahead of regulatory changes, making compliance easier and more efficient. The system’s advanced capabilities mean fewer staff can accomplish more, freeing team members to focus on customer experience, product development, and strategic growth initiatives.
Siobhan Byron, EVP of Universal Banking at Finastra, added:
“Finastra Essence is built to reimagine banking. It provides banks like BCB with a solid, adaptable foundation that can evolve with market innovations. This democratisation of technology ensures that all banks, regardless of size, have access to the tools needed to innovate, adapt, evolve, and thrive in a rapidly changing financial ecosystem.”
