Why BAI Has Chosen Finastra to Power Digital Change

Banco Angolano de Investimentos (BAI), one of Angola’s largest financial institutions, has chosen Finastra’s Essence core banking solution to advance its digital transformation strategy and sharpen its competitive edge. 

The collaboration is anything but new and is the latest in the bank’s 15-year partnership with financial services software leader Finastra.

With customer expectations, regulatory frameworks and market dynamics evolving faster than ever, BAI’s decision shows its clear intentions and commitments to modernisation. 

The bank aims to accelerate innovation and product delivery, while bolstering operational resilience and scalability across its digital banking ecosystem.

Driving flexibility and resilience

“The adoption of Essence marks the beginning of the next phase in our digital transformation journey,” says Luís Martins, Executive Director at BAI. 

“To successfully deliver innovative and responsive banking services to our customers, while keeping pace with frequent regulatory changes, we need a core banking platform that is highly flexible, scalable and future proof. 

“We selected Finastra due to its market-leading offering, strong consulting and advisory support and proven track record in this space.

“We have collaborated with the company for more than 15 years – this extension of our partnership demonstrates BAI’s commitment to driving innovation and resilience in the Angolan banking sector.”

Finastra’s Essence is a next-generation, cloud-first core banking platform built on open, microservices-based architecture. 

Designed for financial institutions aiming to future-proof their operations, it supports rapid product development and integration with fintech ecosystems through open APIs. 

The solution’s model bank approach allows Finastra to tailor dedicated features to regional market needs – a crucial capability for BAI as it adapts to Angola’s evolving regulatory environment and customer expectations.

Technology partnership for sustainable growth

The implementation will be led by Innovation Makers, a long-standing technology partner specialising in financial software solutions. 

The company will bring regional expertise through its Multi-Payments Processing System (MPPS) and Card Management solutions, as well as a local Centre of Excellence to ensure knowledge transfer and operational continuity.

Through this partnership, BAI is investing not only in technology infrastructure, but also in developing its local ecosystem and talent base.

“Legacy banking infrastructure and lots of customisations can hinder flexibility and operational effectiveness, often with high costs attached,” says Siobhan Byron, EVP of Universal Banking at Finastra.

“By transforming its core banking system, BAI can scale quickly and adapt to new demands with much greater efficiency and success. 

“Our state-of-the-art solution – uniquely combining future-proof technology with comprehensive banking functionality – enables the bank to maintain its competitive advantage with a high level of reliability and trust. 

“We’re empowering BAI to reimagine banking in Angola by delivering timely, innovative, and customer-centric services.”

In a region where many financial institutions are balancing economic growth with modernisation efforts, BAI’s strategic shift sets a benchmark for how technology and trust can intersect to shape sustainable digital transformation. 

Finastra’s ecosystem-driven approach aims to help banks like BAI seamlessly connect to global fintech innovation while retaining local control and regulatory alignment.