April 21, 2022
We are pleased to announce that Fern Software has become a Platinum Sponsor of the 2022 Community Futures National Event in Ottawa, once again demonstrating the company’s strong commitment to the Community Futures network in Canada.
Based in Ireland, Fern Software has played an instrumental role in helping Community Futures organizations streamline and modernize their information systems since 2012 when it was selected to develop a customized management information program to help Community Futures offices in Ontario easily manage their loan portfolios and track all interactions with clients and businesses.
Officially launched in October 2013, the new software, named FaaSBank (Fern-as-a-Service Bank), was developed in close collaboration with the Ontario Association of Community Futures Development Corporations (OACFDC), now Community Futures Ontario. The software was delivered on a hosted platform, a first for the company. It was also the company’s first contract in North America, leading to the establishment of their North American office in Toronto to provide hands-on support to CF offices.
“I know what it’s like to be a small business,” says Eamon Scullin, founder and CEO of Fern Software. “I also know what it’s like to work with community-based financial institutions. They need flexibility and the ability to customize the program to fit specific business scenarios.”
FaaSBank has since been adopted by Community Futures organizations across the country, and has formed the basis of a similar program developed for the National Aboriginal Capital Corporations Association (NACCA).
“The key for us has been our ability to work with Community Futures offices directly to identify any problems and modify the program on an ongoing basis to ensure that it is up-to-date,” said Eamon. For example, when the COVID-19 pandemic hit, Fern Software made sure that its software was updated to accommodate new loan programs such as the Regional Relief and Recovery Fund (RRRF). More recently, it has introduced an online portal that makes it easier for clients to submit their applications online.
BACKGROUND
Incorporated in 1979, Fern Software specializes in the development and implementation of core banking systems and supporting modules for credit unions, microfinance institutions (MFIs), savings and loans organizations, development banks, Community Development Financial Institutions (CDFIs), and a variety of social funding agencies. It now has customers in over 45 countries and in five different languages, delivering practical solutions and the latest technology. Headquartered in Belfast, Northern Ireland, the company has offices in Amsterdam, Singapore, Tiruchirappalli, and Toronto, plus a network of accredited implementation partners covering Africa, the Middle East and Central Europe. Fern directly employs over 100 employees.
In addition to FaaSBank, Fern Software products include Abacus and BayTree core banking systems and the Quantum AI Loan Decision Engine based on the Salesforce Lightning platform. More information is available at https://www.fernsoftware.com