Finastra Financial Messaging adoption strengthens international banking capabilities at Maldives Premier Bank. In fact, the leading financial services software provider is a company serving the financial services industry. Revealed that Maldives Premier Bank is implementing the financial messaging API. Consequently, the bank has taken a step towards digitizing international banking operations.
The financial messaging service is a solution that offers reliable, dependable, and always-on connectivity for payments. Further, the financial messaging solution also provides 24/7 SWIFT connectivity through a single platform. It can be used for the future implementation of connectivity to other means of payment as well.
“As a newly established bank, we sought a proven Swift-accredited provider capable of delivering a complete, end-to-end onboarding process, while ensuring secure and resilient connectivity,” said Arah Sadava, Chief Executive Officer at Maldives Premier Bank. “Finastra’s flexible architecture and API-driven approach will support our growth and position us to expand connectivity to additional payment infrastructures over time, enabling us to provide trusted and efficient international payment services to our customers.”
Advancing Cross-Border Payment Capabilities
In consequence, Maldives Premier Bank intends to improve its cross-border payments framework. In addition, the scalable framework guarantees flexibility for future operation. It can accommodate increasing transaction volumes and market needs. The API-first approach facilitates the onboarding process to Swift, which includes testing, certification, and go-live.
“Our platform helps banks leverage next-generation, API-driven access to bureaus and market infrastructures, supporting innovative use cases, such as embedded banking, at speed,” said Barry Rodrigues, EVP Payments at Finastra. “It supports future interoperability with over 30 market infrastructures and payment rails, including alternative cross-border providers, making it the connectivity platform of choice for growth-oriented banks like MPB.”
Moreover, the system of the financial messaging platform enables interoperability within various market infrastructures. The system is also able to integrate over 30 payment rails on an international level. In consequence, banks will be able to implement embedded banking and other advanced digital applications very fast and efficiently. Last but not least, the financial messaging platform enhances international connectivity for Maldives Premier Bank.
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News Source: PRNewswire.com
