July 2, 2007
NDB Bank of Sri Lanka Selects Oracle-Based FinnOneTM Retail
Nucleus Software Exports Ltd has announced that the Company and Oracle on June 28, 2007 has announced that NDB Bank of Sri Lanka, one of the largest private sector commercial banks in Sri Lanka has selected the Company's flagship product - FinnOneTM Retail Suite (*No. 1 Best Selling Retail Lending Software globally) on the Oracle Database and Oracle Fusion Middleware. NDB Bank will implement Oracle technology - based FinnOneTM Customer Acquisition System (CAS), FinnOneTM Lending and FinnOneTM Collections across its 32 branches in the country.
NDB Bank is a comprehensive financial powerhouse, serving both retail and corporate banking needs of customers. It has played a catalytic role in shaping project-based finance in the country, financing over 6,000 projects in all stages of growth, in virtually every economic sector, and building up a large and representative customer base through a network of branches around the island. With a focus on increasing customer base and intensifying competition in the retail banking industry in Sri Lanka, it became imperative for NDB Bank to revamp its retail offerings with a worldclass solution that will enable the bank to reduce lime to market and offer attractive products in the retail space. They were looking at a one-stop shop solution catering to Housing loans, Consumer Financing and Leasing business that would complement their existing core banking solution.
FinnOneTM Retail Lending Suite: A perfect fit
FinnOneTM Retail proved to be the best fit for the Bank's requirement. FinnOneTM Retail will help NDB Bank gain increased efficiency in their operations, resulting in easy inter-operability across branches and developing efficient workflow systems in their lending business. While FinnOneTM CAS will allow NDB Bank to augment their acquisition in housing, consumer financing and leasing business; FinnOneTM Lending will enable NDBBank for better operational and decision-making support for the asset side business lines. FinnOneTM TM Collection - the delinquency management master will allow the bank to track their NPA's and delinquent customers. FinnOneTM Retail will help NDB Bank to provide a single face to its customers across business lines and channels, grow revenue organically, improve operating efficiency, and ensure regulatory compliance.
FinnOneTM Retail Suite runs on Oracle Database 10g and Oracle Application Server 10g, a component of Oracle Fusion Middleware. This enables NDB Bank to increase its capacity for growth and gain greater insight into its businesses, without significant financial or resource commitments. This is possible through the use of Service-Oriented Applications and standards-based business processes.
Source: Equity Bulls