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Nucleus Software forays into the African region

August 4, 2006 | Press Release
India, New Delhi, August 03, 2006: Nucleus Software Exports Limited (NSE: NUCLEUS), a leading global provider of the next generation software products for banking & financial sector, today announced that First Bank of Nigeria (FBN), one of the largest banks in Africa, selected Nucleus’ flagship solution - FinnOne TM CAS, Lending & Collections Suite. This solution will be implemented across 350 branches in the West African region.

This win marks Nucleus’s entry into the African banking industry. With this implementation, First Bank will overhaul its entire credit & loan operations across the country.

FinnOne™ is an integrated suite of applications designed to support the whole spectrum of business offerings of Banks and Financial Solutions companies.

FinnOne™ CAS automates and manages the complete application processing flow for Retails/ Corporate Financing as well as Cards, allowing banks to integrate the different touch-points in their supply chain for acquisition prospecting and pre-disbursal processing.

FinnOne™ Lending, a software module of the FinnOne™ suite, is built with the objective of providing operational and decision-making support to all the asset side business lines. The product also assists in introducing new product offerings and tailor made schemes, reducing time-to-market and automating processes so as to provide a distinguishing factor within the retail loan space.

FinnOne™ Collections system manages the entire collections and focuses on tracking and managing delinquent customers. This enables organizations to effectively minimize delinquencies through a series of proactive actions and tighter supervision. It is a unique platform that comes loaded with add-on modules, supporting any phase of distressed receivables lifecycle and enabling powerful recovery management.

“ Our successful track record of FinnOne implementations across the globe stands testimony to our vision and mission of being a leading global player in the Banking and Financial industry. First Bank is the largest bank in Nigeria and this order stands testimony to our commitment to the market,” stated Vishnu Dusad, Managing Director, Nucleus Software Exports Limited.

Nucleus with its flagship product FinnOneTM today has over 124 clients across the globe. It is a fast - growing player with a leadership position in regions spanning APAC, Europe, Middle East, Africa, and America. Nucleus, today, commands leadership position in the domestic retail banking space with clients spanning among most leading banks in India.

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