June 7, 2006
| Press Release
New Delhi, June 7, 2006:
Indiabulls selects Nucleus Software to power its national lending operations
Nucleus Software Exports Limited (NSE: NUCLEUS), a leading global provider of the next generation software products for banking & financial sector, today announced that Indiabulls Housing Finance Ltd, a leading financial services provider, has selected Nucleus to implement its flagship solution - FinnOne TM CAS, Lending & Collections suite. This suite will be implemented across 200 branches across India.
The company will power its entire lending services division which encompasses automobile loans, mortgage and personal loans with the FinnOne SuiteTM over the next one year.
FinnOne™ is an integrated suite of applications designed to support the whole spectrum of business offerings of Banks and Financial Solutions companies. FinnOne™ CAS
automates and manages the complete application processing flow for Retails/ Corporate Financing as well as Cards, allowing banks to integrate the different touchpoints in their supply chain for acquisition prospecting and pre-disbursal processing. FinnOne™ Lending,
a software module of the FinnOne™ suite, is built with the objective of providing operational and decision-making support to all the asset side business lines. The product also assists in introducing new product offerings and tailor made schemes, reducing time-to-market and automating processes so as to provide a distinguishing factor within the retail loan space. FinnOne™ Collections
system manages the entire collections and focuses on tracking and managing delinquent customers. This enables organizations to effectively minimize delinquencies through a series of proactive actions and tighter supervision. It is a unique platform that comes loaded with add-on modules, supporting any phase of distressed receivables lifecycle and enabling powerful recovery management.
Announcing this win, Vishnu Dusad, Managing Director, Nucleus Software, said, “We are honoured and privileged to partner with Indiabulls, in this strategic initiative to deploy FinnOneTM across their national operations. Nucleus Software views this as a strategic partnership and is committed to closely support Indiabulls and deliver beyond its expectations”
Commenting on the win, Mr. Gagan Banga, Executive Director Indiabulls Housing Finance Ltd said, “Indiabulls is India’s premier financial services company, and we have an aggressive strategy to capture the market share within the lending space in India. We have opted to partner with Nucleus because of the company’s successful track record in implementing solutions for the lending operations internationally as well as in the domestic market., “
“The Nucleus solution will enable the company’s operations with extensive functionality coverage and will provide the flexibility & stability which we need to attain market leadership,” said Mr. T.S. Miglani, Chief Technology Officer, Indiabulls Housing Finance Ltd.
Nucleus with its flagship product FinnOneTM today has over 124 clients across the globe. It is a fast - East, Africa, and America. Nucleus, today, commands leadership position in the domestic retail banking space with clients spanning among most leading banks in India. growing player with a leadership position in regions spanning APAC, Europe, Middle