Advans Pakistan Microfinance Bank in core banking tech overhaul with AutoSoft Dynamics
Advans Pakistan Microfinance Bank has signed for the AutoBanker core banking system supplied by domestic vendor AutoSoft Dynamics.
Advans Pakistan implements a new core banking system
The new solution will cover branch banking, credit, compliance and management information systems (MIS) at the microfinance bank.
Advans Pakistan offers current accounts to individuals and businesses, as well as savings, deposits and loan products. It has 62,000 clients and 19 domestic branches.
It was launched in 2012 by Advans Group, a microfinance banking group with HQ in Luxembourg and operations in Cambodia, Cameroon, Ghana, Democratic Republic of Congo, Cote d’Ivoire, Nigeria, Tunisia, and Myanmar.
Earlier this year, the group sold its Pakistan entity to MNT-Halan, an Egypt-based financial services start-up. MNT-Halan, which describes itself as “Egypt’s first unicorn”, has been on a fundraising and acquisition spree over the last couple of years.
Meanwhile, another microfinance bank in the country, Mobilink Microfinance Bank, has recently signed with AutoSoft to optimise its treasury operations with the vendor’s money market and RTGS solutions.
Lahore-headquartered AutoSoft Dynamics provides core banking and ancillary financial institution management solutions and employs 150+ staff. Among its clients are Finca Microfinance Bank and National Bank of Pakistan.
In 2022, the company was acquired by Contour Software, the Pakistan division of the Perseus Operating Group of Constellation Software Inc (CSI), an international software and services provider. CSI is listed on the Toronto Stock Exchange and, together with its subsidiaries, operates across 100+ countries, employs 30,000+ people, and generates over $5 billion in global revenue.
