CARITech and Finastra partner to drive core banking transformation in MENA

By Gloria Methri

CARITech, a specialist in digital transformation and core banking modernisation, has partnered with Finastra to accelerate the rollout of Finastra Essence across financial institutions in the Middle East and North Africa (MENA) region.

This collaboration brings together CARITech’s implementation expertise and CMMI Level 3-certified delivery standards with Finastra’s cutting-edge technology, offering banks in the region a powerful route to streamlined, scalable, and efficient core banking upgrades.

Leveraging its bilingual Arabic-English team and deep regional knowledge, CARITech will support financial institutions in adopting Finastra Essence, ensuring smooth transitions to modern platforms and delivering tailored support that aligns with local regulatory and operational needs.

“Partnering with Finastra represents a significant step forward for CARITech in our mission to deliver best-in-class core banking transformation services,” said Dr. Ismail Ali, CEO of CARITech. “By combining our expertise with Finastra’s innovative Essence solution, we can empower financial institutions to modernise their operations with confidence and efficiency.”

Finastra Essence is a next-generation core banking solution designed to boost agility, reduce operational costs, and streamline workflows. With a modular and cloud-enabled architecture, Essence supports innovation while offering deep functionality for retail and corporate banking.

“Our collaboration with CARITech reflects Finastra’s commitment to ensuring financial institutions receive exceptional service when implementing Finastra Essence,” said Siobhan Byron, EVP, Universal Banking at Finastra. “CARITech’s track record in core banking transformations and their deep understanding of regional needs make them an invaluable partner in helping banks achieve their transformation goals.”

The alliance underscores both companies’ shared focus on customer-centric innovation. It aims to help banks across MENA modernise with minimal disruption while enhancing digital readiness and customer service.

Together, CARITech and Finastra are set to redefine how financial institutions in the region approach digital transformation, laying a resilient foundation for the future of banking.