SINGAPORE – 14 February 2016 – Abacus, Fern Software’s market leading core banking system for inclusive financial institutions worldwide, has recently been selected by SMF IFOD SA.
The Financial Institution for Development Works (IFOD) is a new microfinance company founded in February 27, 2014 by the National Episcopal Conference of Congo (CENCO) with the aim to contribute and improve the livelihoods of the people in the Democratic Republic of Congo by providing them with access to traditional banking and microfinance services and products.
In its initial phase, IFOD will open 37 operational service points in 6 agencies by the end of 2016 throughout the territory of the Democratic Republic of Congo. It will offer priority to the Congolese population in the hinterland of savings and flexible loans to improve the livelihoods of households, communities and other local organisations they serve.
Fern Software’s Abacus was selected as the best software during an international tender for its software reliability and features that are aligned with IFOD’s vision, goals and ambitions. Fern Software was also chosen for its significant capabilities in product development, customer-centric design, multilingual integration, and the ability to work both in various hosted environments.
“We are proud of the successful partnership between the SMF IFOD SA and Fern Software in the materialisation of the project IFOD consistent with the social policy of the Church in favour of the less fortunate” said Dr. Bruno Nyenge Miteyo, CEO of SMF IFOD SA.
“We are delighted to be able to support SMF IFOD SA in their aim of bringing financial inclusion to the people of Congo” said Debbie Watkins, Managing Director of Fern Software APMEA.
“Fern’s 37 years of experience in providing clever but uncomplicated technology solutions will enable IFOD staff to offer ethical financial services to even the most rural populations in Congo.”
The selection of Abacus expands Fern Software’s growing network of clients in the African region and worldwide with more than 300 installations in 30 countries.