Banco Angolano de Investimentos Selects Finastra to Scale with Customer and Industry Demands
Finastra, a global leader in financial services software, 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 quickly 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 personalized 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 deep expertise in payments and digital banking, the company will deliver advanced capabilities through its Multi-Payments Processing System (MPPS), and Card Management solutions. These innovations will empower BAI to enhance customer experiences, accelerate product delivery, and strengthen its leadership in the Angolan market. 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.
“The adoption of Essence marks the beginning of the next phase in our digital transformation journey,” said 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 Essence is a cloud-first, next-generation core banking solution that combines rich, broad and 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 market-leading products and services that utilize technologies like AI and machine learning. In 2025, 15 institutions worldwide successfully went live with Essence. BAI also uses Finastra Corporate Channels.
“Legacy banking infrastructure and lots of customizations can hinder flexibility and operational effectiveness, often with high costs attached,” said 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.”
