AutoSoft Dynamics (Pvt) Limited, a leading banking automation solution provider and FINCA Microfinance Bank Limited, one of the fastest growing microfinance networks in Pakistan have signed a landmark agreement to implement AutoSoft's AutoMWALLET Branchless Banking Solution at the bank.
The strategic alliance between FINCA and AutoSoft for AutoMWALLET will offer tremendous benefits to the banked as well as to the un-banked communities. AutoMWALLET will help FINCA in expanding the bank's network, by allowing access of financial services to people in rural as well as urban areas. It will also allow the bank to truly execute on The State Bank of Pakistan's vision of financial inclusion.
AutoSoft has developed an innovative solution which allows its customers to offer banking grade services to their clientele on the branchless banking platform in a very cost effective manner through the use of a range of comprehensive banking plug-ins. AutoMWALLET is backed by the SAP mobility platform, a complete, powerful, operator-grade Payment Processing and Service Delivery Platform. It offers support for mobile channels including SMS, USSD, mobile browser, mobile app, and works on any mobile device, on any network, with multi-lingual and multicurrency support. With the AutoMWALLET Ecosystem, the solution becomes much more powerful facilitating provision of micro-loans, saving deposits, remittances, and other banking services all while complying with The State Bank of Pakistan's regulations.
Speaking at the signing ceremony Mudassar Aqil, CEO of FINCA Microfinance commented, "We evaluated different solutions and vendors and believe that AutoSoft and their AutoMWALLET solution are an excellent fit for our requirements. We need a flexible product and an agile team who can quickly respond to our needs allowing us to ramp up our growth to become a leading player in the branchless space. AutoSoft has a strong track record for delivering its solutions in record timelines and we are excited to jointly make this yet another successful case study."
Javed Mushtaq, CEO of AutoSoft commented, "AutoSoft has always been at the forefront in introducing and providing innovative products to the financial services industry. We are delighted to have joined hands once again with FINCA Microfinance Bank, in order to provide financial services to the banks customers across Pakistan. This is another step towards financial inclusion and we look forward to working as a unified team to meet the aggressive timelines required by the bank."
AutoSoft is a global solution provider of a complete integrated and standalone banking solution which is implemented in leading financial institutions across Asia, the Middle East and Africa. In addition to this, AutoSoft is a partner with technology solution providers including SAP, Microsoft and Oracle. AutoSoft has in-depth understanding of GSM mobile operations, distribution networks (Agency Agreements) as well as banking, to fill the financial gap between banked and un-banked communities.
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