ZB Financial Holdings (ZBFH) in Zimbabwe has implemented Finastra’s Essence core banking solution, deployed on the Microsoft Azure cloud, to modernize its infrastructure.

Dr. Shepherd Fungura, CEO of ZBFH, stated that Zimbabwe features a “fast-evolving digital and environmentally conscious population, and regulatory landscape.” He added that the core banking upgrade will enable the company “to keep pace with the demands of modern banking.” The Essence platform supports ZBFH’s compliance with local regulations and international payment standards, including ISO 20022. Its microservices architecture is designed to enhance ZBFH’s product development capabilities.

In addition to the core banking system, ZBFH has adopted other Finastra digital products to improve operational efficiency and omnichannel banking experiences. These include a digital wallet interface, customer onboarding processes, online application systems, integrated digital channels, and a payment gateway.

Established in 1951, ZBFH offers a range of financial services, such as banking, insurance, investments, and wealth management. The company’s mobile application, MyZB, provides customers with money transfer services, loan access, and various payment options.

Finastra reports that 11 institutions have gone live with its Essence solution so far in 2025. These implementations include Mediterranean Bank in Libya and AlRayan Bank in Qatar.