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This study aims to explore the banking business ecosystem in Timor Leste by idetifing actors, the relationships, the value creation between them, and developing business ecosystem map. Current condition of Timor Leste-s banking system is the banking system consist of 4 foreign banks and one national bank. In addition there are other financial institutions like fintech and financial cooperatives, doing business such as money transfer, currency exchange, insurance, and agency deposit. This is a qualitative descriptive study using primary and secondary data. The data analysis techniques followed qualitative method of Miles and Huberman and also Conversional Strategy Value Analysis Model for the mapping the ecosystem to identifying roles, delivers and transactions. Based on Value Network Analysis can be concluded that there is a good relationship between the parties involved in the banks ecosystem, but there are some parties who do not perform their roles properly. This will impact to high risks, costs and unbenefits relation. Therefore it is necessary to have cooperation between all parties involved in the ecosystem and it is recommended to the government to stipulate a digital law and a credit guarantee law in order to guarantee the business activities of banks. The government needs to cooperate with fiber optic companies in order to facilitate bank operations in serving customers digitally.