Fern Software launches first of its kind API offering

Fern Software launches first of its kind API offering

Core banking software provider Fern Software has opened its Abacus HUB Cloud platform to third parties in the UK and Ireland.

“End users can now build a customised core banking system from the library of apps available,” the vendor says.

According to Fern, “this is the first time APIs have been made available in this way to third parties to offer new and disruptive apps to credit unions and other financial services providers in the UK and Ireland.

“This open approach to collaboration is unique to this market.”

Eamon Scullin, CEO and founder of Fern, observes that the changing technology and business needs of credit unions require “all key players to collaborate across payments, mobile and online services”.

The vendor is “working with selected fintech partners to deliver a complete integrated solution”. Third party apps will be available via the AbacusStore portal.

John McGucken, GM at Fern, describes Abacus HUB as “the future of credit union financial services software”. It will reduce the credit unions’ costs, increase flexibility and facilitate innovation and open collaboration, he explains.

Among Abacus users in the UK is Liverpool-based Enterprise Credit Union (ECU). Its manager, Karen Bennett, supports Fern’s latest venture, saying “we are confident we can offer more services, maintain growth and streamline current processes for all involved”.

According to Scullin, Abacus HUB has already been deployed in three sites.

Fern Software was set up in 1979. Its flagship core processing system, Abacus, is aimed at “inclusive financial institutions”, such as MFIs, credit unions, SME lenders and development banks.

The solution has 300 installations in 35 countries, predominantly across Africa, Latin America, Asia and Eastern/Central Europe. It is available in English, Arabic, French, Russian and Khmer.

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