January 17, 2008
| India Infoline
The solution, which went live in a remarkably short turnaround tine, will significantly improve the banks efficiency by automating the front-end consumer lending process and enhance its customer relationships across the country.
Nucleus FinnOneTM goes live at Bank of the Philippine
Nucleus Software Exports Ltd on Wednesday announced that its FinnOne Loan Origination System has gone live at Bank of the Philippine Islands. The solution, which went live in a remarkably short turnaround tine, will significantly improve the banks efficiency by automating the front-end consumer lending process and enhance its customer relationships across the country.
Bank of the Philippine Islands (BPI) is the third largest commercial bank in the Philippines in terms of assets. Selected after a thorough evaluation of the various system proposals, Nucleus's FinnOne will offer a specialized loan origination system with flexible features that will allow changes in accordance with policy updates and user requirements. The FinnOne Loan Origination System, named as BPI's Automated Loans Front-End System (ALFES), will allow the bank to integrate the different touch- points in their supply chain for acquisition prospecting, pre-disbursal processing and loan booking.
The system will take the acquisition from the first contact, to application form acceptance, its workflow through various stages, queue management, deviation management, user management and access controls, right up to the reject / approval decision for the disbursement and loan booking. ALFES will help BPI in the effective tracking of consumer loans applications, timely disbursements and swift decisionmaking, thus contributing to better-cost management and aiding in the bank’s overall success.
"We are delighted to see FinnOne successfully powering the aggressive retail banking focus at the Bank of the Philippine Islands. The region continues to be a key focus area for Nucleus and we are certain that our proficiency in technology and the wide acceptance of our solutions across markets will help BPI reaffirm its position in the region and build formidable reputation among its customers," said Vishnu R Dusad, CEO and Managing Director, of the Company.
BPI is at so using FinnOne Collections and Credit Card application processing system from the Company. With over 25 product installations in more than 10 banks, the Company has strengthened its leadership position in Philippines banking industry. FinnOne is a global player in the banking solutions space and has successful implementations in Asia-Pacific, Middle East, Africa, Europe and US.