MIS / Fern / FaaSBank

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MIS User Taskforce

An MIS User Taskforce comprised of GMs from across the country has been working diligently over the last number of months to assess and recommend options for the development of a common management information system for the use of AFIs. The MIS User Taskforce was open to all AFIs and was made up of the following members:

  • Terry Brodziak (Chair) – Saskatchewan Indian Equity Foundation Inc. (SIEF)
  • Elaine Chambers – Däna Näye Ventures
  • Linda Martin – Thebacha Business Development Services (TBDS)
  • Marg Epp – Kitikmeot Community Futures Inc. (KCFI)
  • Chris Googoo – Ulnooweg Development Group Inc.
  • Sandy Wong – Tale’Awtxw Aboriginal Capital Corporation (TACC)
  • Jean Gauthier – Corporation de développement économique montagnaise (CDEM)
  • Mark Dokis – NACCA
  • André Jetté – NACCA
  • Frank Richter – NACCA

NACCA Procurement of FaaSBank Management Information System for AFIs

Recently, we embarked on a comprehensive consultation and assessment process led by the User Taskforce and Steering Committee to identify a single, cost effective, and flexible management information system (MIS) for the AFI network. We have selected FaaSBank, a Fern Software solution, as the MIS that we will support. We appreciate the contributions from AFIs across Canada who provided input into the development of the new system.

Fern Software is a banking software developer that provides loans software and core banking systems in 30 countries, servicing over three million borrowers. The Ontario CFs recently selected and implemented FaaSBank as their standard system, with positive results to date.  They have a proven track record of continuous re-invention and expansion. They offer a broad range of fintech products and services in many geographical markets that use modern software. Each day, millions of banking transactions are processed through their systems in five languages. Global target markets include business development loans to small and medium enterprises (SMEs), housing loans, peer-to-peer lending, credit union savings and loans, and microfinance loans. To learn more about FaaSBank, watch the video at this link: https://www.youtube.com/watch?v=_Nnnv0gk1kM

We look forward to answering your questions that you might have about this decision. We have also prepared a brief FAQ below. For any further issues or questions, please contact André Jetté via e-mail at mis@nacca.ca


Questions & Answers

Who will pay for FaaSBank?

As part of our commitment at NACCA to support and improve operations throughout the AFI network, we will assume the monthly licensing cost of FaaSBank. Any hardware or software purchases will be the responsibility of the AFIs, which can apply to the Aboriginal Capacity Development Program to recoup some or all of the costs.

Which AFIs will have access to FaaSBank? Are all AFIs required to move to FaaSBank?

We are committed to enabling all AFIs to move to FaaSBank by covering the cost of the move and the monthly maintenance and support costs. We highly encourage your AFI to move to the new system as it is expected to improve operational efficiency, reduce local operational costs, and improve customer service. In most cases, the move will include historical data migration; however, in some cases the data migration will need to be done manually.

While we are not requiring AFIs to use the FaaSBank system, we want to point out that AFIs who do not switch but choose to remain in a legacy system must cover the ongoing costs. These costs include licensing fees, operational costs, maintenance, upgrades, and training.

Furthermore, we will improve our reporting format in the new system. We plan to use a dynamic reporting interface that will allow tracking of specific information by AFIs and will meet confidentiality and data ownership requirements. Data is used to identify trends and inform policy makers on the needs of AFIs and Aboriginal entrepreneurs. Any AFI that chooses to stay in a legacy system will be responsible for reporting information to us in the new format.

If my AFI moves to FaaSBank, when will my system be moved and what will I need to do?

We are currently working with the MIS User Task Force and Fern Software to finalize the deployment and implementation plan. We will provide details about implementation timelines and required AFI involvement when the details of the implementation plan are complete.  Estimated start date is March or April 2017.

My AFI is running a legacy system, TEA 9, TEA 10, LMS, or other. If my AFI is going to move to FaaSBank, how should I deal with the legacy system software vendor?

We want to encourage AFIs to maintain a professional relationship with all current legacy system software vendors. In some cases, we might require other vendors to perform technical tasks to facilitate the move to FaaSBank

My AFI is interested in moving to FaaSBank. What can I do?

Please e-mail André Jetté at mis@nacca.ca to confirm that your AFI would like to move to FaaSBank and outline any timing preferences you have (e.g., we want to move as soon as possible; we prefer to wait till the fall; etc.).

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