December 14, 2009
| Press Release
New Delhi, December 14, 2009:
Kyrgyz Company Bai Tushum and Partners chooses Nucleus' FinnOneTM
Nucleus Software Exports Limited (NSE: NUCLEUS, BSE: 531209), a leading global provider of integrated software products for banks and financial institutions, today announced that Bai Tushum and Partners, a non banking finance company (NBFC) in Kyrgyz republic has chosen FinnOne™ for its core banking operation across all divisions. Five modules of FinnOne™ - Customer Acquisition System (CAS), Loan Management System (LMS), General Ledger (GL), Collections, and Forecaster will be implemented at seven branches of the institution across Kyrgyz republic.
FinnOne™ suite will technologically power the Operations, Credit, Finance, Human Resource and Sales division of the institution. FinnOne™ will help Bai Tushum automate application processes and create a differentiated customer experience through unique offerings like online application processing and credit scoring.
According to Ms. Gulnara Shamshieva, General Manager of Bai Tushum and Partners Company, “Our partnership with Nucleus Software would help increase our efficiency and strengthen our leadership position in the competitive Central Asia banking industry. We are positive of the products functionality and confident that the project will be a huge success.”
Selected after a thorough evaluation of the various system proposals, Nucleus’ FinnOne™ optimizes key lending processes like credit origination, credit decision making, and reduces processing errors. Bai Tushum and Partners is one of the leading rural micro-finance companies in Kyrgyz republic, occupying 26% of the total loan portfolio of microfinance institutions (according to the Microfinancial Companies Association), while maintaining steady growth in assets and profits.
Commenting on the announcement, Vishnu R. Dusad, CEO and Managing Director, Nucleus Software Exports Limited, said, “We are confident that Nucleus Software will provide Bai Tushum a sound and technologically advanced platform to improve customer satisfaction. The new order win reaffirms our strategic focus in Central Asia. About MFC Bai Tushum and Partners
Founded in 1997, Bai Tushum and Partners company has been one of the leading rural microfinance company in Kyrgyz Republic. Stable, reliable and dynamically developing micro finance company in Kyrgyz Republic, offers various affordable credits for people. Annuallly, the company widens its regional braches. The total loan portfolio of Bai Tushum Partners company more than 37million dollars, number of clients more than 26 thousand. The ultimate aim of the company to transform into a microfinance bank in the future.