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Nucleus Bags Deal from ACOM, Japan

January 19, 2007 | Press Release
Nucleus Software Exports, a software products provider for the banking and financial sector, today signed a contract with ACOM, a consumer finance company in Japan, to implement FinnOne and PowerCARD and offshore development services to India.

While the exact size of the deal was not divulged, the management maintained it was more than their current turnover that stands at $32 million (over Rs 140 crore).

The new systems at ACOM are expected to go live by 2009 followed by support services from India. The new systems will allow ACOM an opportunity to overhaul their traditional IT framework and create an edge in the market.

The scope of the deal covers end-to-end IT transformation of ACOM consumer finance operations across its branches and networks.

"This win is an endorsement of the keen understanding of banking and nonbanking industry that has led Nucleus Software in winning the most coveted deals across the globe. The deal size is more than our current turnover," Vishnu Dusad, CEO and managing director, Nucleus Software, said.

"We are re-modeling our IT processes and applications for delivering quality services and a wide product portfolio to our customers. Nucleus' proven track record in the BFSI sector and deep domain expertise made it a natural partner for this engagement," Junya Fukuda, member of board of ACOM, said.

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