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Intercontinental Bank, Nigeria goes live on Nucleus Software's FinnOneTM banking solution

May 18, 2009 | Press Release
New Delhi, May 18, 2009: Nucleus Software Exports Limited (NSE: NUCLEUS, BSE: 531209), a leading global provider of integrated software products for banks and financial institutions, today announced the successful implementation of FinnOne™ at Intercontinental Bank, Nigeria. FinnOne™ has automated the bank’s Credit Origination process and provided end-to-end solutions for Retail & Corporate Loans.

Selected after a thorough evaluation of the various system proposals, FinnOneTM has expedited and enhanced customer service by automating the credit origination, effectively tracking applications, timely disbursements, faster collections, on time income accruals and swift decision making.

ntercontinental Bank with over 300 branches is one of Nigeria's strongest brands, enjoying a reputation for excellent customer service, superior financial performance and exceptionally high returns on investment. As a part of global expansion they have opened subsidiary banks in Ghana and London.

On this occasion Mr. Adebiyi Olayinka, Executive Director, Intercontinental Bank, Nigeria commented, “Nucleus Software's FinnOneTM was chosen after a rigorous selection process for the automation of our credit process. Implementation at the initial stages is not easy but at the end of the day, the choice of the software in terms of its benefits outweighs the challenges. The Bank can now process credit online, improve on Credit Turn around Time, achieve objectivity in credit processing/approval and consequently improve on the quality of its risk assets while also achieving dramatic improvement in customer service delivery. This is in addition to ultimately capturing the credit market. As we look forward to a mutually beneficial future relationship, we once again thank and congratulate Nucleus for a successful implementation.”

Vishnu R. Dusad, CEO & Managing Director, Nucleus Software, said, “The decision of Intercontinental Bank, Nigeria to choose FinnOne™ is a testimony to how Nucleus’ product offerings is transforming the business of retail and corporate credit across the entire expanse of Africa. This successful implementation justifies the faith reposed in us and reiterates FinnOneTM's position as the leader in this space. We are positive that the bank will far exceed customer expectations by leveraging our technology and we are optimistic that our partnership will go a long way. ”

About Intercontinental Bank:
Intercontinental Bank is one of Nigeria's strongest brands, resonates with a reputation for excellent customer service, superior financial performance and a track record of exceptionally high returns on investment. As a part of global expansion they have opened subsidiary banks in Ghana and London. Intercontinental Bank is also the first Nigerian bank to cross the one billion dollar mark in first tier capital. From N12 million in 1989, the Bank's Shareholders' Fund has leapt to N200.4 billion. Total assets plus contigents is N1.7 trillion.

About FinnOneTM :
The flagship product of Nucleus Software, FinnOne™ , is the 'World's Number 1 Selling Lending Software Product*. It is a powerhouse of seamlessly integrated applications, designed to provide operational support, risk management and decision-making support to banks and financial services companies. The FinnOne™ suite provides solutions for the asset as well as liability sides of business in addition to account management, core financial accounting, risk management, document management, and customer services. FinnOne™ also supports multi-branch, multi-currency, multi-product, and bi-lingual implementations. FinnOne™ focuses on both, retail and corporate loans, thereby emerging as a comprehensive solution to back any line of the lending business. *IBS Publishing (2009)

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