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Nucleus Software Bags Yet Another Deal In South East Asia | Partners With Tien Phong Bank, Vietnam

December 17, 2008 | Press Release
New Delhi, December 17, 2008: Nucleus Software Exports Limited (NSE: NUCLEUS, BSE: NSEL), a leading global provider of integrated software products for banks and financial institutions, today announced that Tien Phong Bank (TPB), Vietnam has chosen Nucleus’ FinnOne™ CAS & Collections module to support their consumer retail banking operations. FinnOneTM will enable the bank in completely automating operations, keeping a check on credit ratings and efficiently filtering out bad debts to increase profitability and offering a differentiated customer experience.

Tien Phong Bank is one of the newest entrants in Vietnamese banking sector, yet has proven one of the market pioneers in applying technology to improve its operational efficiency and to provide its customers with simple and secured electronic products such as internet banking, SMS banking, debit cards. Tien Phong Bank operates in the two most dynamic cities of Vietnam, and will expand to another 3 cities with a network of 30 branches/transactional offices across Vietnam by end of year 2009. FinnOne™ will help the bank provide a comprehensive, flexible and secured automated solution to the customers. The solution will further help them to sharpen their competitive edge with ‘quick-tomarket’ product and schemes and will enable the bank to grow their loan business on a large scale.

This deal marks yet another win for FinnOneTM from Vietnam as Nucleus Software's FinnOneTM already powers one of the leading international financial services companies in Vietnam’s consumer finance sector. With Tien Phong Bank choosing FinnOneTM to drive the bank's lending business Nucleus forays further in the region and strengthens its position as a leading global provider of software products for banks and financial institutions across South East Asia.

Dao Trong Khanh, CEO, Tien Phong Bank, said, “Technology is key to Tien Phong Bank’s aspiration to become a leading national bank. To be able to provide best in class, leading lending services, we required a lending platform that could cope with growing volumes. We’re confident that with a highprofile experienced team coming from various international banks, we could utilize FinnOne™ to enhance our productivity and build up value-added solutions for our customers.”

Vishnu R. Dusad, CEO & Managing Director, Nucleus Software, said, “Choosing a next-generation solution such as FinnOne™ will give Tien Phong Bank the technological edge in offering world-class products and services to their customers. FinnOne™ has always led the way in adapting to emerging business models in banking and Tien Phong Bank's choice of FinnOneTM demonstrates 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, multi-currency, 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. FinnOneTM has been ranked amongst world's best selling lending software products for three consecutive years by IBS Publishing, 2008.

 About Tien Phong Bank

Launched on June 6, 2008, Tien Phong Bank founding members are the FPT Corporation, Vietnam Mobile Services (VMS) - MobiFone, Vietnam National Reinsurance Corporation (Vinare) and other stakeholders. The strategic investment and cooperation brought about by these organizations has given Tien Phong Bank indisputable legacy in information technology, mobile telecommunication technology, and finance. Tien Phong Bank aims to be the bank of choice for customers, providing (1) user-friendly products through both traditional and advanced channels, (2) world-standard service quality (3) long-term partnership. So far Tien Phong Bank has 6 offices in Hanoi, HCMC and been able to attract nearly 300 talented members. Tien Phong Bank has invested and successfully implemented I-flex’s Flexcube application, the leading core banking software in the world. Besides implementing modern banking management solution in accordance with international standards, Tien Phong Bank is the first bank in Vietnam to implement ISO 9001:2000 quality control standards right from the start of operation. For more information, visit:www.tpb.com.vn"> www.tpb.com.vn

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