December 29, 2008
| Press Release
Nucleus Software Expands In The UAE | Abu Dhabi Finance Selects Nucleus Software's FinnOneTM
New Delhi, December 29, 2008: Nucleus Software Exports Limited (NSE: NUCLEUS, BSE: NSEL), a leading provider of integrated software products for banks and financial institutions, announced today that it has been selected by new UAE-based mortgage provider, Abu Dhabi Finance. Abu Dhabi Finance will use Nucleus’s award winning FinnOneTM for all its mortgage-related processes, including automation of the approval process, account maintenance and financial transaction monitoring and tracking. This automation will ensure faster processing of applications and allows Abu Dhabi Finance to provide faster service to its clients.
will help Abu Dhabi Finance integrate its lending process for acquisition and pre-disbursal processing. Established by five of Abu Dhabi’s major investment, real estate, and finance companies, Abu Dhabi Finance will play a major role in helping the Emirate meet its long term goals of sustainable economic growth by financing the growing demand for real estate. As the organisation grows, FinnOneTM will be instrumental in maintaining and monitoring the various financial transactions of Abu Dhabi Finance and it will assist in analyzing the profitability of various departments and monitoring the overall financial health.
Abu Dhabi Finance selected FinnOneTM based on its impressive track record and the particular functionalities of the software.
Philip Ward, CEO, Abu Dhabi Finance, said:"
As a service focused organisation, Abu Dhabi Finance endeavours to provide the highest quality service to our clients. Being able to provide quick and accurate responses is an important part of our ethos. FinnOneTM will help us achieve our client service objectives and its scalability means it will be able to keep up with our growth targets.”
“We look forward to working with Abu Dhabi Finance. Leveraging our industry knowledge and solution expertise we will help Abu Dhabi Finance enhance its competitive edge and product innovation capability. The Middle East remains a key area of focus for Nucleus and this partnership further establishes our leadership position as a primary software product provider for banks and financial institutions globally. This win reiterates our commitment to the success of our clients.” said Vishnu R. Dusad, CEO and Managing Director, Nucleus Software Exports Limited.About Abu Dhabi Finance
Abu Dhabi Finance is set to be a leading provider of mortgages to those purchasing property in the Emirate of Abu Dhabi and the rest of the UAE.
The company was formed in 2008, following a 12-month planning and development period, by some of the biggest players in Abu Dhabi: Abu Dhabi Commercial Bank (ADBC), Aldar Properties, Mubadala Development Company, Sorouh Real Estate pjsc and Tourism Development & Investment Company (TDIC). These shareholders include companies which are estimated to represent more than two thirds of the new units being built in Abu Dhabi.
Abu Dhabi Finance is aiming to become a major new force in the UAE market, by offering attractive mortgage products to a wide range of clients, with outstanding client service sitting at the heart of everything we do.
The company is based in Abu Dhabi on the corner of Al Salam Street (8) and Electra Street (7), and employs some of the best talents in the financial services in the UAE.