Success Stories

FINCA Microfinance Bank selects AutoSoft’s Core Banking to automate its banking operations

FINCA Microfinance Bank has signed up with AutoSoft Dynamics (Pvt.) Limited (AutoSoft) to deploy the AutoBANKER Premium core banking suite. The solution includes a state of the art Core Banking Platform as well as modules for consumer financing, treasury management, fixed assets and MIS reporting. The upgrade will support FINCA Pakistan’s operations across multiple verticals.

The decision to procure AutoSoft’s Core Banking System by FINCA Pakistan for its operations is of crucial importance. It is in line with the bank’s strategic objective to follow a focused digital strategy that includes modernizing its software systems to facilitate its nationwide expansion.

FINCA chose to deploy AutoBANKER Premium - Global Banking System after evaluating eleven banking solutions from local as well as global providers, including Oracle FLEXCUBE through Techlogix, and Temenos T24 through NDC TECH. An independent risk assessment of the short-listed vendors was performed by KPMG prior to selection. AutoSoft’s system was selected based on superior financial and technical evaluations, particularly in its ability to synergize, co-exist and evolve alongside FINCA’s digital platform - SIMSIM. FINCA’s system upgrade onto AutoBANKER from BiLOGiC Systems Inc. hPLUS will provide software enhancements in the form of improved quality, reliability, performance in addition to new features.

Mr. Mudassar Aqil, CEO of FINCA Microfinance Bank commented on this occasion, "FINCA is determined to play its part to increase financial inclusion in Pakistan, leveraging the digital channel that is growing exponentially. This system upgrade will allow FINCA’s operations to become extremely nimble, and will serve as the backbone for complete automation of our branch banking services. As a result, offering tailored products and services to our customers would become easier and speedier as the system integration with the SIMSIM platform will digitize the delivery of microfinance products to our low income entrepreneurs.”

FINCA Bank has been using AutoSoft’s AutoHRM – Human Resource Management System since 2015 for the automation of its HR operations and AutoMWALLET, a complete, powerful, mobile payments and Service Delivery Platform to power its SIMSIM wallet since 2016.

“We are proud to be further strengthening our relationship with FINCA Microfinance Bank by joining hands as their core banking solution partner.” said Sadia Khan, CEO of AutoSoft. She further added, “This win is another example of how we continue to support our customers as their software requirements evolve; allowing them to pay as they grow. Both teams are determined to make this implementation another benchmark for the industry and I have no doubt that the AutoBANKER suite shall support FINCA’s business needs and accelerate their business growth enabling them to make better strategic decisions”

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