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Nucleus' FinnOneTM Goes Live At Bank of Makati, Philippines

February 16, 2009 | Press Release
New Delhi, February 16, 2009: Nucleus Software Exports Limited (NSE: NUCLEUS, BSE: 531209), a leading global provider of software products for banks and financial institutions, today announced that its award winning product FinnOne™, has gone live across all branches of Bank of Makati. FinnOne™ will power the bank with three key modules – LMS (Loan Management System), GL (Extensive General Ledger System) and Deposits / Clearings.

Nucleus’ FinnOne™ was selected after evaluation of the various system proposals.

Bank of Makati is the largest, out of more than 600 rural banks, in Philippines. The Bank’s core business is motorcycle financing and lending loans to medium and micro enterprises across the country through its branch network.

On this occasion, Bank of Makati expects that FinnOne™ will help the bank provide a comprehensive, flexible and secured automated solution to the customers. The solution will address the operational and MIS needs of departments across the bank.

Vishnu R. Dusad, CEO & MD, Nucleus Software, said, “We are proud to partner with Bank of Makati as this will enable the institution to penetrate the rural banking market more effectively and strengthen their position in the Philippines market. Implementing a next-generation complete banking suite such as FinnOne™ will give Bank of Makati the technological edge in offering products and services to their customers. FinnOne™ has always led the way in adapting to emerging business models in banking and the implementation at Bank of Makati will demonstrate this. “ FinnOne™, the flagship product of Nucleus Software, is a powerhouse of seamlessly integrated applications, designed to provide operational support, risk management and decision-making support to banks and financial services companies. The FinnOne™ suite provides solutions for the asset as well as liability sides of business in addition to account management, core financial accounting, risk management, document management, and customer services. FinnOne™ also supports multi-branch, multicurrency, multi-product, and bi-lingual implementations. FinnOne™ focuses on both, retail and corporate loans, thereby emerging as a comprehensive solution to back any line of the lending business. For the last three consecutive years FinnOne™ has been adjudged amongst world's best selling lending software products by IBS Publishing.

About Bank of Makati:
Bank of Makati is the largest, out of more than 600 rural banks in Philippine. It was established in 1956. In 2001, a new group of stockholders took over, infusing additional capital and installing a professional management team of seasoned bankers. The phenomenal growth of the Bank was spurred by the acquisition, opening of branches and aggressive marketing efforts. The Bank’s core business is lending loans to medium and micro enterprises across the country through its branch network. The Bank’s consumer banking offers a suite of products for financial needs offered through various channels and make banking a rewarding experience.

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