AutoSoft Dynamics to upgrade banking system of Advans Pakistan
Advans Pakistan Microfinance Bank has selected AutoSoft Dynamics to
implement its AutoBanker core banking system. This new system will enhance the
bank's branch banking, credit, compliance, and management information systems
(MIS) operations.
Advans Pakistan provides a range of financial products, including current
accounts, savings, deposits, and loans, serving 62,000 clients across 19
branches nationwide.
Founded in 2012 by Advans Group, a Luxembourg-based microfinance group with
a global presence in countries such as Cambodia, Cameroon, Ghana, the
Democratic Republic of Congo, Côte d’Ivoire, Nigeria, Tunisia, and Myanmar, Advans
Pakistan has recently undergone a significant ownership change. Earlier this
year, the Pakistan entity was acquired by MNT-Halan, an Egyptian financial
services start-up that has quickly gained recognition as “Egypt’s first
unicorn” through aggressive fundraising and acquisitions.
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Venture, MNT-Halan, completes acquisition of Advans Pakistan Microfinance Bank
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AutoSoft Dynamics, based in Lahore, is known for its comprehensive core
banking solutions and ancillary financial institution management services. The
company employs over 150 staff and counts Finca Microfinance Bank and National
Bank of Pakistan among its clients. Recently, another microfinance bank in
Pakistan, Mobilink Microfinance Bank, also partnered with AutoSoft to enhance
its treasury operations using the vendor's money market and RTGS solutions.
In 2022, AutoSoft Dynamics was acquired by Contour Software, the Pakistan
division of the Perseus Operating Group of Constellation Software Inc. (CSI).
CSI, a global software and services provider listed on the Toronto Stock
Exchange, operates in over 100 countries, employs more than 30,000 people, and
generates over $5 billion in revenue annually.
Source: https://www.fintechfutures.com/