SINGAPORE – 5 February 2016 – Abacus, Fern Software’s market leading core banking system for inclusive financial institutions worldwide, has recently been selected by Buusaa Gonofaa Microfinance SC (BG) for their operations in Ethiopia.
Founded in 1999 by HUNDEE Oromo Grassroots Development Initiative, an Ethiopian non-governmental organisation, and 15 other HUNDEE-affiliated shareholders, Buusaa Gonofaa Microfinance SC is currently one of the leading private microfinance institutions which provides financial services such as savings and loans products to underserved communities in Ethiopia.
BG’s mission to provide flexible and sustainable financial service to improve the livelihood of the community is strongly aligned with Fern Software’s commitment to help inclusive financial institutions build stronger and more sustainable businesses through the use of highly functional and flexible technology solutions.
“This is perhps one of the most significant investments in the evolution of BG as inclusive financial service provider, a transformative one. BG has recently introduced an innovative door-step deposit delivery where Customer Service Officers go to the business place of customers, offer goal-based saving and pickup at agreed upon time. And this customer centric door-step deliverymodel naturally requires a robust cutomer-centric banking solution – and that is what Abacus brings to BG.” said Teshome Yohannes Dayesso, CEO of Buusaa Gonofaa Microfinance SC.
“The design of our Abacus core banking system leverages Fern’s 37 years of experience in providing clever but uncomplicated technology solution to inclusive financial institutions” said Debbie Watkins, Managing Director of Fern Software APMEA.
“Our support for the Ethiopian language set; ability to design a wide range of customer-centric products without customisation; and ability to work both in decentralised or hosted environments will support Buusaa Gonofaa in their aims of achieving simultaneous business growth and social impact.”
The selection of Abacus expands Fern’s Software’s growing network of clients in the African region and worldwide with more than 300 installations in 30 countries.