Finastra, a global leader in financial services software, has announced that BAI – Banco Angolano de Investimentos, S.A. (Sociedade Aberta), one of Angola’s largest financial services providers, has selected Finastra Essence to upgrade its core banking system.
The next-generation, open API-enabled platform will strengthen BAI’s operational resilience and ability to adapt to changing customer, industry and regulatory demands. By decreasing time to market and increasing capacity for product innovation, the bank’s customers will benefit from enhanced and personalised digital banking services. Finastra will deliver the solution via a model bank approach, with dedicated features tailored for the Angolan market.
Innovation Makers, a long-standing strategic partner in the research, development and implementation of financial software solutions, will lead the implementation. Leveraging its expertise in payments and digital banking, the company will deliver advanced capabilities through its Multi-Payments Processing System and card management solutions. In addition, Innovation Makers will provide a local Centre of Excellence with translation support, long-term operational resilience and knowledge transfer within the local ecosystem.
Luís Martins, Executive Director at BAI, said: “The adoption of Essence marks the beginning of the next phase in our digital transformation journey. To successfully deliver innovative and responsive banking services while keeping pace with regulatory changes, we need a core banking platform that is flexible, scalable and future proof. We selected Finastra due to its market-leading offering, strong advisory support and proven track record. Our long-standing relationship reflects BAI’s commitment to driving innovation and resilience in the Angolan banking sector.”
Finastra Essence is a cloud-first, next-generation core banking solution combining deep functionality with advanced technology to increase agility, reduce costs and improve operational efficiency. Powered by open microservices architecture and APIs, it enables institutions to rapidly deploy products and services that utilise technologies such as AI and machine learning. In 2025, 15 institutions worldwide went live with Essence. BAI also uses Finastra Corporate Channels.
Siobhan Byron, EVP of Universal Banking at Finastra, said: “Legacy banking infrastructure and extensive customisation can limit flexibility and increase costs. By transforming its core banking system, BAI can scale more efficiently and adapt to new demands. Our solution combines future-proof technology with comprehensive functionality, enabling the bank to maintain its competitive advantage with reliability and trust while delivering innovative, customer-centric services.”
