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L&T Finance Limited selects Nucleus' winning solution

May 15, 2007 | Press Release
India, New Delhi, May 15, 2007: Nucleus Software Exports Limited (NSE: NUCLEUS), a leading global provider of next generation software products for banking & financial sector, today announced that L&T Finance Limited (LTF), a non banking finance company and a wholly owned subsidiary of Larsen & Toubro Limited, a technology and engineering major has selected Nucleus Software’s flagship solution FinnOne TM Customer Acquisition System, Lending and Collections to be centrally implemented in Mumbai with a roll out across 60+ locations.

With this contract Nucleus has further strengthened its leadership position as a premier banking Solutions Company in the country. Nucleus’ flagship product FinnOne™ will be implemented across their various divisions including Construction Equipment financing, Commercial Vehicles, Tractors and various corporate products.

The solution will allow the company with anytime, anywhere access, ensuring ease in operation and instant information availability and fulfilling Company’s objective of acquiring operational and decision-making support for all the asset side business lines.

“We chose Nucleus Software products after a careful evaluation of its functional and technical capabilities. We wanted to go for nothing but the best products & a trusted company, Nucleus was a good choice considering their leadership arising out of intense focus and vast experience in the Financial sector” said Mr. Anantha Sayana, Head Corporate IT - L&T Ltd.

Mr. A.N.Mani, Senior Vice President - L&T Finance added that, “This selection is in line with our overall strategy to ramp up our operations and provide greater value in services to our customers. We are confident that this solution when rolled out fully will enable us to enhance our customer service, improve reporting and enable analysis of various data streams to derive greater value”

Mr. Vishnu R. Dusad, CEO & MD, Nucleus Software Exports Limited said, “Demand for innovative products is acompanied by rapidly changing requirements which means that banks have to react swiftly to changing market conditions. Our successful track record across the globe is an indication of our capability to offer our customers critical competitive advantage through reduced cost and time to market with new products.”

Nucleus’ flagship product FinnOneTM is the “No. 1 Best Selling Retail Lending Software” globally. (IBS Publishing* for the year 2006). With over 141 clients across the globe Nucleus is a fast - growing player with a leadership position in regions spanning APAC, Europe, Middle East and Africa.

Nucleus, today, commands leadership position in the domestic retail banking space with a client base comprising most leading banks in India. Experiencing exponential growth in the retail banking scenario, Nucleus is focused to deliver strong technology offerings, enabling financial institutions to meet the demands of the dynamic business world.

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