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”

i2c Expands Leadership Team with Addition of Veteran Executive

Joe DeRosa Brings Expertise in Customer-Focused Marketing and Sales Growth Strategies

REDWOOD CITY, Calif. – April 16, 2018 – i2c, a global provider of smarter payments and integrated commerce solutions, today announced that it has appointed Joseph DeRosa as executive vice president of Global Sales and Marketing. Reporting directly to i2c’s Chief Executive Officer Amir Wain, Mr. DeRosa is responsible for accelerating revenue growth and overseeing the company’s global marketing, sales, sales operations, and sales enablement functions.

“i2c’s reputation of high availability, flexibility, and quality service has been driving our rapid growth,” said i2c founder and CEO Amir Wain. “We are investing in strengthening our sales and marketing organizations as we continue on our path to $1billion in revenue. Joe’s deep understanding of sales and marketing functions, intense focus on customer success,and track record of delivering high-growth results make him a perfect fit. Joe is an important strategic addition to i2c, and I am proud to have him join the executive team.”

Mr. DeRosa has more than 25 years’ experience building sales and marketing organizations, having achieved record-setting revenue results across multiple industries including Fintech, Financial Services, Insurance, SaaS, and Telecom. Prior to joining i2c, Mr. DeRosa was a principal with Sales Benchmark Index, a management consultancy specializing in sales and marketing. He has led revenue functions for companies including Paychex, Intuit, Merrill Lynch, and Employers Insurance Group. Mr. DeRosa has earned a reputation as a thought leader with intimate knowledge and understanding of the customer and buyer mindset. He is a frequent blogger on marketing, sales, and leadership topics and is the author of The Customer Mindset: Thinking Like Your Customer to Create Remarkable Results

“i2c delivers unique value to our customers’ brand promise, and I am thrilled to be part of a team dedicated to payments innovation and sales and marketing excellence,” commented Mr. DeRosa. “My career has focused on understanding what motivates customers and drives success, and I look forward to applying my passion for customer advocacy at i2c.”

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Agile Processing Platforms have never looked so good

February 20, 2018

Today we’re announcing our official partnership with i2c, an Agile Processing platform which will power payment functionality within the STACK app. Our partnership with i2c will facilitate secure payments through the STACK app and the STACK Prepaid Mastercard card, so you can use your STACK app or card anywhere Mastercard is accepted including in-store and online. i2c is as serious about security as we are, so they monitor transactions to make sure they adhere to fraud rules and spending limits which means you can spend your money safely and securely, but no one else can.

We’ve also hooked up to i2c’s integrated voice response system (or IVR for short) so our members will have access to convenient and intuitive self-serve customer service options along with in-app and text support.

When it comes to building our platform, finding the right partners is essential. We look for companies motivated to find a better way who are passionate about helping us build one. As a global provider of smarter payments and integrated commerce solutions, i2c is the perfect fit to help us launch a new way to manage your money.

It’s a big step forward for the STACK app and we’ll be releasing more updates soon as we continue to expand our private beta and move closer to our public launch.

STACK Selects i2c for its New Mobile Money Management Platform

i2c's Agile Processing platform will power STACK, a new alternative to traditional banking

TORONTO, Feb. 20, 2018 /CNW/ - STACK today announced its selection of i2c, a global provider of smarter payments and integrated commerce solutions, as its official payments processor to enable secure payments through the STACK app and the STACK Prepaid Mastercard card. i2c's advanced Agile Processing payments platform will enable STACK to build and rapidly scale personalized payments functionality to its members. STACK is a mobile app for fee-free money management, accompanied by a STACK Prepaid Mastercard. Member benefits such as real-time rewards, financial iQ, and curated offers provide a lifestyle-focused approach to financial services.

Leveraging i2c's payments processing platform, STACK gives members the convenience and security to make purchases anywhere Mastercard is accepted, including in-store and online, and will ensure transactions adhere to fraud rules and spending limits.

"STACK is designed to provide smarter solutions to the way we interact with our money," said Miro Pavletic, CEO of STACK. "Our selection of i2c as our payment processor is aligned with our mission to work with partners that provide innovative and efficient solutions so we can deliver a seamless and secure member experience from start to finish."

"Helping our clients create and scale innovative and highly-differentiated payments solutions to their customers worldwide is our core competency," said Amir Wain, i2c's founder and CEO. "STACK is pushing the boundaries of financial innovation, and we look forward to helping them give their members a smarter way to spend, save, and share money, straight from their smartphones."

Accessing i2c's Agile Processing platform via API (application programming interface) integration allows STACK to quickly scale and expand product functionality and roll out feature-rich, secure payments solutions that attract members through superior user experiences and innovative capabilities. STACK will also use i2c's integrated voice response system (IVR) to provide convenient and intuitive self-serve customer service options.

STACK is currently in private beta, scheduled to launch publicly early this year.

FINCA Microfinance Bank Limited goes live on AutoSoft’s AutoMWALLET Branchless Banking Solution

FINCA Microfinance Bank receives regulatory approval from SBP to launch SimSim on AutoSoft’s AutoMWALLET Branchless Banking Solution

The State Bank of Pakistan gave FINCA Microfinance Bank Limited the formal authorization for commercial launch of its SIMSIM wallet, after a successful pilot. The product is powered by AutoSoft Dynamics’ Branchless Banking Solution - AutoMWALLET and, using the company’s speedy implementation methodology, went live in a record 4 months.

FINCA selected AutoSoft’s AutoMWALLET in March 2016. AutoSoft is SAP’s only OEM partner for their Mobility Solution, SAP Mobile Platform Consumer Edition, in Pakistan. With the AutoMWALLET suite, the solution becomes much more powerful facilitating provision of micro-loans, saving deposits, term deposits, remittances, and other banking services all while complying with The State Bank of Pakistan’s regulations.

SIMSIM is growing at a rapid pace thanks to its viral marketing flow and frictionless customer on-boarding process. AutoMWALLET is a complete, powerful, mobile payments and Service Delivery Platform. It offers support for mobile channels including mobile apps, portals, USSD, SMS, 3rd party networks through open APIs and works on any mobile device, on any network, with multi-lingual and multicurrency support.

Mr. Mudassar Aqil, CEO, FINCA Microfinance Bank Limited commented on the occasion: “We wanted to offer an interoperable platform that is telco agnostic and allows for quick and easy integration with any system wishing to work with SIMSIM. It was critical for us to mitigate the risk of implementation delays similar to those faced by other banks due to the complexity of implementing branchless banking software. We were delighted to have completed the successful implementation of AutoMWALLET at the bank in just four months and at a fraction of the cost of other branchless banking solutions. Using AutoSoft’s existing tried and tested banking plug-in’s we look forward to leapfrogging competition and offering innovative financial products including digital lending and micro savings on the mobile wallet. These will truly add value to our customers and allow the bank to implement The State Bank of Pakistan’s vision of financial inclusion.

Ms. Sadia Khan (CEO, AutoSoft) commented on the occasion: “AutoSoft is excited to be working with FINCA for the automation of their branchless banking platform. AutoMWALLET, when used alongside our core banking plug-ins, will allow the bank to offer saving deposits, term deposits, remittances, and other banking services on the wallet, all while complying with The State Bank of Pakistan’s regulations . With the bank’s clear vision enabled by AutoSoft’s technology, I foresee significant growth potential for the bank.”