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Nigeria's United Bank for Africa Deploys Nucleus Software's FinnOneTM

February 19, 2007 | IT News Online
Nucleus Software Exports Ltd., a provider of software products for the banking and financial sector, announced that United Bank for Africa Plc (UBA) Nigeria, the largest financial institution in Nigeria has selected Nucleus' flagship solution - FinnOne CAS, Lending and Collections Suite.

The company said this win establishes its presence in the African banking industry, being the second order from Nigeria in less than a year. With this implementation, UBA will overhaul its entire credit and loan operations across the country.

UBA, with a network of over 500 Branches, emerged as the first successful corporate combination in the history of Nigerian banking. It is the first Nigerian Bank with a Balance Sheet in excess of the One Trillion-Naira mark as well as the only African Bank to have a Branch in New York.

FinnOne is an integrated suite of applications designed to support the whole spectrum of business offerings of Banks and Financial Institutions. FinnOne CAS automates and manages the complete application processing flow for Retail/ Corporate Financing as well as Credit Cards, allowing banks to integrate different touch-points in their supply chain for acquisition, prospecting and pre-disbursal processing.

FinnOne Lending 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 providing a distinguishing factor within the retail loan space.

FinnOne Collections 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.

Vishnu Dusad, CEO and MD, Nucleus Software Exports Ltd., "Our successful track record of FinnOne implementations across the globe stands testimony to our vision and mission of being a leading global player in the Banking and Financial industry. United Bank for Africa Plc (UBA), Nigeria is the largest financial services institution in West Africa and this order shows our commitment to the market."

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