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Nucleus Software Forays Into Housing Finance Industry In India

August 8, 2005 | Press Release
New Delhi, August, 08, 2005: Nucleus Software (NSE: NUCLEUS), a leading global provider of next generation software products for banking and financial sector, today announced that it has signed the agreement to implement complete end to end, housing finance solution at BHW Birla Home Finance Ltd. 

The FinnOne TM suite (LOS, Lending, Collections, General Ledger, Deposits) would be implemented across 42 offices plus it’s satellite reach within India. FinnOne TM will offer BHW Birla a comprehensive business solution for it’s pan India operations in the housing finance space. This deal marks Nucleus’ foray into the Non Banking housing finance industry in India.

BHW Birla Home Finance Ltd., is a fully owned subsidiary of BHW Holding AG of Germany and one of the fastest growing housing finance entities in India today. The BHW group is one of the largest retail home finance groups in Germany with a portfolio of Rs.2, 75,000 crore and a net worth of Rs.1, 10,000 crore. It has 4.7 million customers across Europe.

Speaking on the occasion, Mr. Martin Mueller, Executive Director, BHW Birla Home Finance Ltd., said, “In partnering with a leading financial technology player such as Nucleus, we are taking a huge step forward in terms of our strength and stability. With this implementation, BHW Birla Home Finance will combine the best‐in‐class information technology and financial consulting talents, and provide its customers with services that are highly effective, quality‐oriented and innovative.”

“As a company focused on the Banking and Financial domain, we have unprecedented global expertise along with a comprehensive line of solutions for financial institutions like BHW Birla. This partnership gives us a great opportunity to showcase our solutions in the housing finance area,” said Vishnu R. Dusad, Managing Director, Nucleus Software Exports Limited.

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