Fernbach – Market Leader in Finance & Risk Solutions in Nigeria

Luxembourg - 6 October 2011

Fernbach recorded its first IFRS project win in Nigeria in 2010 at Access Bank which went into production with a fully automated valuation and accounting solution within three months. Beginning of 2011 Zenith Bank, one of the largest banks in Nigeria and the African continent, selected Fernbach as its strategic provider for financial management software. In the meantime 4 other banks have followed the trend and adopted Fernbach’s leading IFRS solution suite FlexFinance. This means that 6 out of 8 institutional requests for tender were won by Fernbach and its local Distributor and service partner CSNC.

CSNC are delighted with the momentum and demand for Fernbach software offering: “As the pioneer IFRS solution provider CSNC and Fernbach have gained huge experience in the local Nigerian banking industry and have successfully tailored an IFRS, Risk and Compliance suite meeting the regulatory requirements at low cost and with short, risk-free implementation methodology.”
This customized package of software and services puts far ahead of their competitors.

“We are excited and proud that we have been able to proactively support the Nigerian finance industry in its dynamic evolution”, stressed Guenther Fernbach. “We are committed as a supplier to long-term engagements and relationships with our banking customers. We have proven the multi-year stability of our client interactions in many organisations across the world including large institutions such as Raiffeisen, Commerzbank or Deutsche Bank and also in Nigeria our customer centricity is and will be our top priority.”

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