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Nucleus Software Exports launch banking suite FinnAxia

February 28, 2014 | the times of india
SINGAPORE: Software products and services provider Nucleus Software Exports has launched its transaction banking product suite FinnAxia for the global market.

The company launched the product in the city-state, which is an established Asian banking and financial hub and a launch-pad for the Asia Pacific markets.

"FinnAxia is designed to process 9.2 million transactions worth $1 billion a day or $250 billion worth of transactions a year," Nucleus Software Exports chief executive and MD Vishnu R Dusad said.

The product is already installed and working on systems with a number of customers as a multi-country implementations, servicing across the markets, he said, adding that it was developed over the past two years in India based on the future requirements of the global banking and financial sectors.

The company said it would focus on developing FinnAxia further in various languages including Japanese.

"We are extremely bullish about this product. We have demonstrated this product in South Africa and Australia, and received strong support from our customers," he said.
Speaking about Indian software product industry, Dusad, an industry veteran with three decades of experience, said: "We see the Indian software product industry earning $120 billion a year by 2025, matching the current turnover of the software services which are taking in $120 billion a year."
A growing number of Indian start-ups are developing wide range of software products, he said, estimating that some 1,500-2,000 companies were already working on niche and specific software products.
"We expect to have some 10,000 companies, such as small product developing start-ups, to be involved in developing software products for the global market in the next couple of years," he said.
Listed on both BSE stock exchange and National Stock Exchange, Noida-based Nucleus Software Exports operates from four offices in India and seven overseas.