SIBS reinforces its commitment to modernizing payments in Timor-Leste.

The partnership with Banco do Nosso Futuro represents another milestone in contributing to the digitalization of the economy in this market.

SIBS reinforces its presence in Timor-Leste with the technological integration of the new retail bank – Banco do Nosso Futuro (BNF) – into the P24 Network, the national payment infrastructure of the Central Bank of Timor-Leste, managed through SIBS payment solutions. This project represents another milestone in SIBS's commitment to supporting the development and modernization of the Timorese payment system.

SIBS played a key role in the launch of BNF – a private bank with 100% Timorese capital – ensuring its integration into the domestic payment network through a comprehensive, state-of-the-art technological implementation.

SIBS's participation in this project included transaction processing, card production and personalization, the supply of ATM and POS terminals, and the implementation of a card management solution at this bank.

“This collaboration reaffirms SIBS’ role as a strategic partner in modernizing Timor-Leste’s financial systems, contributing to innovation, security, and inclusion in access to quality financial services,” explained Daniel Clemente, Director of SIBS International , adding that, “in this way, we reflect our long-standing relationship and our commitment to supporting the country in developing a modern, secure, and efficient payments ecosystem.”

It is worth highlighting that this project also marks the implementation of a Card Management solution, since its integration into the company's product portfolio in 2024, complementing its offering of payment solutions and technologies available for the international market.

This solution provided by SIBS constitutes an integrated payment support system, allowing financial institutions to fully manage debit, deferred debit, credit, and prepaid cards, integrating domestic and international brands such as Visa and Mastercard. Among its main features are real-time and stand-in authorization, card and account lifecycle management, adaptation to emerging payment methods, credit and debt limit management, and a wide range of APIs that facilitate integration with banks' internal systems.

The Bank of Our Future (BNF) was recently inaugurated in a ceremony presided over by the President of the Republic of Timor-Leste, José Ramos-Horta, and the Prime Minister, Xanana Gusmão. The new bank, owned by a fund of veterans of the liberation struggle, was created with the mission of promoting financial inclusion and national economic development, and is open to all Timorese citizens.

SIBS has been operating in Timor-Leste since 2016, initially in collaboration with Banco Nacional Ultramarino (BNU). Since then, the company has worked in close partnership with the Central Bank of Timor-Leste in the development and management of the P24 Network, ensuring the operation and continuous evolution of the payment infrastructure that serves all national banks.