SINGAPORE – 22 June 2016 – Abacus, Fern Software’s market leading core banking system for inclusive financial institutions worldwide, has been selected by the OXUS Group, a transparent and responsible financial services provider for the underbanked, as the new core banking system for their existing and future affiliates.
As a part of ACTED’s first microcredit initiative, the OXUS Group was first created in 2005 with the launch of their inaugural microfinance institution, OXUS Tajikistan, and has since grown into a multi-affiliate network with the follow-up launch of OXUS Kyrgyzstan (2006), OXUS Afghanistan (2007) and OXUS RD Congo (2013).
OXUS Group aims to improve the sustainable livelihoods of their 62,711 active clients and to be the microfinance organisation of reference in post-conflict countries with plans to accelerate the development of new products with Abacus. The system will be used by the 1,000 staff of the network within 12 months.
“The design of our Abacus core banking system leverages Fern’s 37 years of experience in providing clever but uncomplicated technology solutions to inclusive financial institutions.”
“Our multi-lingual user interface; extensive but easy-to-use loan and savings configuration options; and user-definable Social Performance Monitoring capabilities will support each OXUS affiliate in offering products and services carefully tailored to their individual clients’ needs” said Debbie Watkins, Managing Director Fern Software APMEA.
“Abacus software has been selected to support the growth of OXUS loan portfolio from 40 to 70 million EUR within 2 years. The system will allow us to develop CRM functionalities and to improve the monitoring of each step of the loan process. In addition, it will facilitate the implementation of business and technological partnerships to offer new services and delivery channels to our clients.” said Camille Striffling, COO OXUS Group.
Implementation of Abacus core banking system in OXUS Kyrgyzstan has started in 2016 and will roll out to the rest of the existing OXUS Group affiliates in Tajikistan, Afghanistan and Democratic Republic of the Congo during 2016/17
The selection of Abacus expands Fern Software’s growing network of clients worldwide with more than 300 installations in 30 countries.
For more information and enquiries about Fern Software, please visit www.fernsoftware.com or email email@example.com