INSIGHT BUSINESS SOLUTIONS
Fern ABACUS MFI

Fern is a leading provider of software to the MFIs worldwide This is due to the fact that Fern is sensitive to the special requirements of MFIs and has consequently developed products and services that satisfy the demands of management, users, and the reporting requirements of government agencies and donors in a timely and transparent manner. Fern has kept its MFI clients up-to-date with best practices and in line with the principles of good governance.

 

Fern Software ABACUS MFI

Abacus is the result of over 30 years' experience and 10 years' development. Direct feedback from users has resulted in a world-beating software package to meet your current and future needs.

Abacus OneWorld integrates all data processing, financial management and client services into one efficient MIS. It is one of the most advanced systems available: savings, loans, portfolio management, and management reporting, marketing, accounting and client relations. User definable savings and loan products, built-in Report Writer with output to PDF, XLS, DOC, RTF.

Abacus is designed to fit a range of banking and social finance institutions - running on Microsoft SQL database, which provides a scalable, robust and easy to use solution. New and flexible delivery channels are available for disbursements and collections:

Abacus OneWorld is a totally integrated solution designed with the highest International Standards with the following key characteristics:

  • Batch input with supervisory authorization
  • Bank Reconciliation
  • Branch Accounting
  • Built in Diagnostics for Instant Help
  • Business process management
  • Business Planning and Cash Flow Forecasting
  • Client/Members Management
  • Context-sensitive help
  • Customer Relationship Management
  • Designed to International Standards
  • Diarized appointment Manager
  • Document Scanning
  • ID Signatures and Photos
  • Integrated General Ledger with full financial reporting: Trial Balance, Income Statement / P&L, Balance Sheet
  • Loan Portfolio Management & Control
  • Loans Processing and user defined loan products
  • Multiple Accounts
  • Portfolio Quality Management
  • Powerful and Flexible Reporting including a built in report writer
  • Reports - full range covering Cashier, Loans Savings and complete financials
  • Regulatory Compliance
  • Savings / Shares transactions processing and user defined products

 

 

Our Abacus Core Banking System (CBS) is supplemented by a range of OPTIONAL MODULES for users to add as their needs demand:-

  • Advanced Credit Management - user defined workflow in debt recovery and delinquency control. Linked to individual calendars to provide diarized control;
  • Advanced Document Scanning - additional filing and folder management for electronic document management;
  • ATM EPOS Link - connects Abacus OneWorld to your selected ATM/POS with no limitation on the functionality: cash withdrawals and deposits, funds transfers, remittances, loan operations and standard enquiries - balances and mini statements;
  • Card Management Systems (CMS) - web based card management system which supports the full processing of card application, through manufacturing and all administration of post-distribution services : issue new and replacement cards, stop, suspend cards, pin number management;
  • Customer Relationship Management (CRM) - keep track of all diary appointments and customer enquiries; make appointments, recorded against individual customer records;
  • BI Appraisal - evaluation and due diligence made easy with the enhanced appraisal system to generate a detailed and summary key financial ratios and analyses, PAR details and overall performance report - generated automatically and on demand;
  • Connect-U - used for inter-branch or inter-institution transactions where the clients from one branch can do transactions in the other branches or the clients from one financial institution can transact in the offices of other financial institution.
  • Insurance - calculate premiums for loan protection insurance, calculate commission on premiums, refunds on early loan clearance. Within Settings, Insurance the user can customize the different insurance products being offered.
  • Internet Banking - online account enquiries by members/clients, loan application, statement of transactions, forms download, loan calculation and repayment schedules;
  • Mobile Banking - individual account management from your mobile phone, transactions details;
  • Mobile Collections - allows mobile Loan Officers and collection agents to make collections via their smartphone
  • Mobile Loan Officers- loan origination, collections, route planning, daily summary;
  • Mobile Wallet- "contactless" payments via your cell phone - Near Field Communication (NFC);
  • Money Laundering Reporting
  • Multi-Currency
  • Multi-Lingual - allows different users to login to their language specific menu and screens. Presently in English, Spanish, Khmer, Bahasa, Chinese;
  • Payments Switch - high performance and incredibly flexible EFT switch which enables financial institutions to connect to various financial payment networks. Allows you to make loan issues or withdrawals electronically without the need for a paper cheque. Direct transfer into the client's or member's account to save time, postage and any delays. Includes bank transfers, salary lodgments directly to current account, local and international payments and remittances;
  • SMS Text Banking - offering your customers balance and other alerts, transaction summaries and mini statements on their cell phone.
  • Loan disbursement and collections in different currencies, savings and deposits in different currencies, devaluation calculation and application, teller options to convert deposits as they arrive.
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