SINGAPORE – 29 May 2017 – Abacus, Fern Software’s market leading core banking system for inclusive financial institutions worldwide, has been selected by Ruby Hill Microfinance, a new microfinance institution to be based in Yangon, Myanmar, as their new core banking system.
Ruby Hill Financial Company was established in 2017 as a joint venture between Myanmar’s Loi Hein Group, and Dragon Capital Group, Vietnam’s longest established independent Asset Manager. Ruby Hill Microfinance services Myanmar’s rapidly growing demand for improved financing options, and has deployed the Abacus Banking System to offer inclusive loan products and other financial services.
“The population of Myanmar has a clear need for relevant, accessible and affordable financial services. Fern’s Abacus solution has been designed from the ground up to support inclusive financial institutions such as Ruby Hill in meeting this need, and we are proud to be able to support their growth strategy”
said Debbie Watkins, Managing Director Fern Software APMEA.
“We evaluated a number of core banking systems but chose Abacus as it is a proven solution which gives our customers easy and secure account access, and our staff an integrated risk, transaction and financial management platform”
said Trinh Proctor, CEO of Ruby Hill Microfinance.
The selection of Abacus by Ruby Hill Microfinance expands Fern Software’s growing network of clients in Myanmar and the Southeast Asian regions with more than 300 installations in 30 countries worldwide.
Fern Software is a leading provider of banking software for inclusive financial institutions (microfinance institutions, credit unions, SME lenders and development banks). With offices and partner organisations spanning the six continents, Fern Software continues to grow in a number of areas, picking up regional and global awards for our financial solutions and outstanding quality of service. Fern Software is committed to helping our customers build strong and sustainable businesses while supporting the full participation of lower income households in the financial system. Our goal is helping improve operations, and developing new products that meet client needs, while supporting economic development.
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