{"id":567813,"date":"2025-04-15T10:39:00","date_gmt":"2025-04-15T09:39:00","guid":{"rendered":"https:\/\/ibsintelligence.com\/?post_type=ibsi_news&#038;p=567813"},"modified":"2025-04-15T10:39:00","modified_gmt":"2025-04-15T09:39:00","slug":"finastra-powers-mediterranean-banks-core-banking-services-in-libya","status":"publish","type":"ibsi_news","link":"https:\/\/ibsintelligence.com\/ibsi-news\/finastra-powers-mediterranean-banks-core-banking-services-in-libya\/","title":{"rendered":"Finastra powers Mediterranean Bank\u2019s core banking services in Libya"},"content":{"rendered":"<p><a href=\"https:\/\/www.mediterraneanbk.com\/\"><img loading=\"lazy\" decoding=\"async\" class=\" wp-image-552381 alignright\" src=\"https:\/\/ibsintelligence.com\/wp-content\/uploads\/2023\/10\/finastra_logo.jpg\" alt=\"Mediterranean Bank Selects Finastra\u2019s core banking solution to transform customer experiences and drive sustainable growth in Libya\" width=\"174\" height=\"174\" srcset=\"https:\/\/ibsintelligence.com\/wp-content\/uploads\/2023\/10\/finastra_logo.jpg 200w, https:\/\/ibsintelligence.com\/wp-content\/uploads\/2023\/10\/finastra_logo-150x150.jpg 150w, https:\/\/ibsintelligence.com\/wp-content\/uploads\/2023\/10\/finastra_logo-100x100.jpg 100w\" sizes=\"auto, (max-width: 174px) 100vw, 174px\" \/>Mediterranean Bank<\/a> has selected <a href=\"https:\/\/www.finastra.com\/\">Finastra<\/a>\u2019s Essence core banking platform to drive its digital transformation and deliver next-generation banking services across Libya. The move marks a significant step in the bank\u2019s strategy to modernise operations, enhance customer experiences, and support both conventional and Islamic banking models.<\/p>\n<p>With the implementation of Finastra Essence, Mediterranean Bank will gain greater agility to respond to evolving market demands, foster continuous innovation, and accelerate time-to-market for new banking products.<\/p>\n<p>EVO Digital Solutions Co., a local FinTech partner of Finastra, is supporting the project. EVO is delivering technical and operational services under Finastra\u2019s supervision, ensuring a smooth and efficient deployment. Leveraging EVO\u2019s regional expertise and Finastra\u2019s global best practices, the collaboration is set to deliver a seamless transition to the new platform.<\/p>\n<p>\u201cWe are currently on a digital transformation journey to ensure we continue to deliver the best services to our customers through cutting-edge technology,\u201d said <strong>Emad Alaakili, Chairman at Mediterranean Bank<\/strong>. \u201cBy implementing Finastra\u2019s core banking solution, we are transforming our operations to drive greater efficiencies and provide our customers with the personalised banking services they expect. By increasing the robustness of our offering, this move also aligns with our goal to drive sustainable growth by balancing both profitability with social responsibility and economic development with financial stability.\u201d<\/p>\n<p>Finastra Essence is a cloud-first, next-generation <a href=\"https:\/\/ibsintelligence.com\/ibsi-news\/al-rayan-bank-upgrades-its-core-banking-solution-with-finastra\/\">core banking solution<\/a> that combines deep functionality and advanced technology to increase enterprise agility, reduce costs and improve operational efficiency. Powered by an open, microservices architecture, Essence&#8217;s rich, broad and deep banking functionality enables institutions to deploy products and services rapidly. The solution will provide Mediterranean Bank with a comprehensive suite of services, including core operations, teller, payments and signature verification.<\/p>\n<p>\u201cWe are pleased to help Mediterranean Bank achieve its objectives around customer-centricity and increasing its market penetration in Libya,\u201d said <strong>Siobhan Byron, EVP, Universal Banking at Finastra<\/strong>. \u201cEssence\u2019s modular architecture and a microservices approach will enable the bank to innovate and scale as it grows seamlessly. Ultimately, we are empowering Mediterranean Bank to reimagine banking and keep pace with change, as it seeks to bring modern, digital financial services to customers.\u201d<\/p>\n","protected":false},"author":35737,"featured_media":552381,"parent":0,"template":"","categories":[11368,11376,11374],"tags":[46336,44426,23265,36869,11409,49707,49706,12269,36705,11515,36544,49705,16136],"class_list":["post-567813","ibsi_news","type-ibsi_news","status-publish","has-post-thumbnail","hentry","category-core-banking","category-digital-banking","category-islamic-banking","tag-africa-fintech-news","tag-cloud-based-banking","tag-core-banking-platform","tag-core-banking-solution","tag-digital-transformation","tag-evo","tag-evo-digital-solutions","tag-finastra","tag-finastra-essence","tag-fintech","tag-libya","tag-mediterranean-bank","tag-mena"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.9 (Yoast SEO v24.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Finastra powers Mediterranean Bank\u2019s core banking services in Libya<\/title>\n<meta name=\"description\" content=\"With the implementation of Finastra Essence, Mediterranean Bank will gain greater agility to respond to evolving market demands, foster\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ibsintelligence.com\/ibsi-news\/finastra-powers-mediterranean-banks-core-banking-services-in-libya\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Finastra powers Mediterranean Bank\u2019s core banking services in Libya\" \/>\n<meta property=\"og:description\" content=\"IBS Intelligence (IBSi) is the world\u2019s only pure-play Financial Technology focused research, advisory, and fintech news analysis firm, with a 30-year track record and clients globally. 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