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Nucleus bags FinnOneTM Retail Banking order from Planters Development Bank, Philippines

August 23, 2004 | Press Release
New Delhi, August 23, 2004: Nucleus Software Exports Limited, (NSE: NUCLEUS, BSE: NSEL), a leading global provider of integrated software products for banks and financial institutions, today announced its alliance with Planters Development Bank, Philippines, to implement FinnOne Lending, Loan Originating Systems for both Retail and Corporate Banking.

FinnOne Lending, a web-based module, handles the pre and post disbursement activities for loans, lease and hire purchase with utmost ease. A complete end-to-end solution to all the time consuming transactions, USP's and ease of customization.

“Our decision to adopt Nucleus’ Retail Banking Solution is in line with our mission of providing efficient and customer focused domestic and international banking services through the application of appropriate technology,” said, Ms. Beth Goco, First Vice President - IT Department, Planters Development Bank. “Without modern, well implemented technology, a bank will not survive. We aim to build a robust technology infrastructure. The selection of Nucleus was based on the scalability and reliability of their solutions, as well as its proven international track record,” added Ms. Beth Goco.

“We are delighted that Planters Development Bank has chosen FinnOne. This is a great example of how Nucleus’ comprehensive offering of products and services meet the growing needs required to compete in today’s financial services industry,” said Vishnu Dusad, Managing Director, Nucleus Software. “This win is especially significant for us because it is a clear indication that Philippines’ financial institutions recognize the overall cost-benefits Nucleus can offer.” 

Ranked the No. 15 selling Banking Solution for 2002 by International Banking Systems (IBS), UK, FinnOne is designed to offer greater flexibility to financial institutions for easy adaptability to market needs and also enables financial institutions to improve their overall operational effectiveness.

About Planters Development Bank

Planters Development Bank (Plantersbank) is a privately-owned and managed bank with a complete range of commercial banking products and services especially geared towards promoting the interest of Small and Medium Enterprises (SMEs).

For more than 40 years, Plantersbank has devoted its energies and resources to the service of the Filipino entrepreneur and will continue to champion the cause of SMEs by bringing to them the resources needed in this period of accelerated change and global competition.

Planters bank is:
  1. The country's largest private development bank with total consolidated assets of P30 billion, capital of P2.9 billion and network of 70 branches
  2.  Nationally acclaimed as the Bank for Small and Medium Enterprises (SMEs)
  3. One of the top 250 among the Philippines Top 1,000 Corporations
  4. Provider of global expertise and resources through partnerships with the World Bank's International Finance Corporation (IFC), the Netherlands Development Finance Company (FMO) and Asian Development Bank (ADB), which represent a combined ownership of over 40%
  5. Consistent recipient of awards and citations from the country's funding and guarantee agencies for SMEs
  6. Gateway for SMEs into the Internet through the joint venture company with International Finance Corporation (IFC) - PDB SME Solutions, Inc. (sme.com.ph), winner of the 2001 Asian Banking Award for e-commerce service. 

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