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An Application to Rower the Bank's Retail Lending Business

January 13, 2007 | Press Release
YES BANK, India’s new age private sector Bank has today announced the selection of FinnOneTM Lending Product Suite (Loan Origination, Loan Management and Collections Suite), a flagship solution of Nucleus Software Export Limited (Nucleus), a leading global provider of software products for the financial sector, to offer value added Retail and Small Business Lending Product Offerings to customers.

FinnOneTM Solution is an integrated suite of applications designed to support business offerings of Banks and Financial Solutions companies. This solution will be implemented initially across all 24 branches of YES BANK in the country.

YES BANK has been successful in implementing stateoftheart, highpowered technology systems that has been able to deliver a complete Banking platform to its customers. FinnOneTM Solution will enable YES BANK to streamline its sales team to ensure a quicker turn around time and effective resource management. This solution will allow the Bank to automate and manage the complete application process flow for any finance instrument such as personal loans, business installment loans, loans against property, housing loans, auto loans, credit cards and other services.

Describing this as a significant milestone in establishing YES BANK as a high quality, technology driven, private Indian Bank, Mr. Rana Kapoor, Managing Director & CEO, YES BANK said, “This technology driven offering will enhance our cutting edge capabilities further for our Retail and Retail SME businesses. In the absence of legacy issues of YES BANK, we will be able to quickly and efficiently rollout the system. We have witnessed a significant buildup of our Retail and SME Banking volumes and will continue to strengthen them through the implementation of this state oftheart technology platform nationally. We are confident that with Nucleus’ support and commitment, we will be able to strengthen our rapid business growth.”

Speaking on the occasion, Mr. Vishnu Dusad, Managing Director, Nucleus Software Exports Ltd. said, “We are proud to be associated with YES BANK, and are eager to partner with them in their retail lending business. We are confident that we will be able to exceed expectations with our commitment and focus to provide world class product and services to our clients. ”

FinnOne will be an effective tool for YES BANK in launching the Retail Lending Business.

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About YES BANK 

YES BANK, India’s new age private sector Bank, is the outcome of the professional commitment of its Promoters, Rana Kapoor and Ashok Kapur, to establish a high quality, customer centric, service driven, private Indian Bank catering to “Emerging India”.

YES BANK has adopted international best practices, the highest standards of service quality and operational excellence, and offers comprehensive banking and financial solutions to all its valued customers. A key strength and differentiating feature of YES BANK is its knowledge driven approach to banking and an unprecedented customer experience for its retail and wealth management clients.

YES BANK is steadily building corporate and institutional banking, financial markets, investment banking, business and transactional banking, retail and private banking business lines across the country. The Bank’s constant endeavour is to provide a delightful banking experience expressed with simplicity, empathy and totality.

About Nucleus Software

Nucleus Software (BSE & NSE: NUCLEUS) is the leading provider of lending and transaction banking products to the global financial services industry. Its software powers the operations of more than 150 companies in 50 countries, supporting retail banking, corporate banking, cash management, internet banking, automotive finance and other business areas. Nucleus Software is known for its world-class expertise and innovation in lending and transaction banking technology. It has two flagship products, built on the latest technology:
  • FinnOneTM 10 time winner - World’s Best Selling Lending Solution. 
  • FinnAxiaTM, an integrated global transaction banking solution used by banks worldwide to offer efficient and Innovative global payments and receivables, liquidity management and business internet banking services.
Forward-looking and Cautionary Statements: For risks and uncertainties relating to forward-looking statements, please visit: http://www.nucleussoftware.com/safe-harbor.

For Media related information, please contact:

Rashmi Joshi, Nucleus Software
Email: rashmi.joshi@nucleussoftware.com
Phone: +91-9560694654