The Commercial Bank of Maldives, a joint venture between Tree Top Investments Pvt Ltd (TTIL) and the Commercial Bank of Ceylon PLC (CBC), sought to align with the Open Banking Standards as mandated by the Maldives Monetary Authority (MMA). The bank aimed to implement the Nextgen2 Berlin Open Banking Specifications. Collaborating with VS ONE WORLD, the bank embarked on a transformative journey toward digital banking.


The primary challenges included:

  • Alignment with Open Banking Standards: As required by the Maldives Monetary Authority.
  • Integration with Core Banking Service: Ensuring seamless connectivity with internal IT systems.
  • Multi-Tenant Integration Platform Needs: Operating in multiple regions including Sri Lanka, Bangladesh, and Maldives.


Open Banking Standards and Financial Integrations

VS ONE WORLD’s solution leveraged:

  • WSO2 Solution Stack: Including the WSO2 API Manager, Identity Server, Enterprise Integrator, Open Banking Toolkit, and Accelerator.
  • Integration with Bank’s Internal IT Environment: Including the Core Banking Service.

Impact on Digital Transformation and Multi-Tenant Integration

The implementation led to:

  • Multi-Tenant Integration Platform: Enabling operations across Sri Lanka, Bangladesh, and Maldives.
  • Digital Transformation of Bank Services: Utilizing open banking capabilities.


The collaboration with VS ONE WORLD yielded significant outcomes:

  • Alignment with Open Banking Standards: Compliance with Nextgen2 Berlin Open Banking Specifications.
  • Seamless Integration with Core Banking Service: Ensuring smooth financial operations.
  • Robust Multi-Tenant Integration Platform: Facilitating operations across multiple regions.
  • Digital Transformation: Enabling the bank to offer innovative and digitalized services.


This case study illustrates how strategic alignment with open banking standards can drive innovation and efficiency in the banking sector. By understanding the unique needs of the Commercial Bank of Maldives and implementing targeted solutions, VS ONE WORLD enabled a transformation that sets a precedent for modern banking practices. It emphasizes the importance of compliance with regulatory standards, seamless integration with core services, multi-tenant platforms, and digital transformation. This project serves as a blueprint for how technology can create seamless, compliant, and responsive banking experiences in the ever-evolving financial landscape.