July 28, 2008
| Press Release
New Delhi, July 28, 2008:
Nucleus Software Forays Into Vietnam; Secures Landmark Deal With Prudential Vietnam Finance Company Limited
Nucleus Software Exports Limited (NSE: NUCLEUS, BSE: NSEL), a leading global provider of integrated software products for banks and financial institutions, today announced that it has secured a landmark deal with Prudential plc’s consumer finance business in Vietnam. This marks Nucleus Software’s entry into Vietnam; further strengthening its leadership position in South East Asia.
Prudential Vietnam Finance Company Ltd. (Prudential Finance) is one of the leading international financial services companies in Vietnam’s consumer finance sectors. Its consumer finance business provides Personal Loans, Home Loans, Sales Finance and other credit products to consumers in Vietnam.
Prudential Finance chose Nucleus’ flagship product - FinnOne™ suite – to provide support on customer acquisition, lending & collections for consumer loans. FinnOne TM will enable Prudential Finance to support a differentiated customer experience through innovative product offerings, and seamless integration across channels for greater customer convenience. The system will allow the business to integrate the different touch-points in its supply chain for acquisition prospecting, predisbursal processing and loan booking.
Commenting on the selection, Kalidas Ghose, CEO of Prudential Finance, said, “Nucleus’ track record and comprehensive portfolio of products will be a valued addition to our consumer finance operations. We are happy to partner with Nucleus in the dynamic Vietnam market and leverage their products and services in banking and financial services.”
Vishnu R. Dusad, CEO & Managing Director, Nucleus Software Exports Limited, said, “We are proud to be associated with a prestigious client like Prudential Finance. This development is significant to us as it comes at a stage when there is an economic boom in Southeast Asia and we anticipate large- scale revolution in the financial industry. We are happy to partner with them in their endeavour to strengthen their lending operations and meet the challenges emerging from a rapidly evolving Vietnam market (with its population of over 85 million).” About Prudential Vietnam Finance Company Ltd.:
Prudential plc is the leading life and pensions provider in the United Kingdom and also one of the largest international financial services company in the world. Riding on the successes in the life insurance and fund management industries in Vietnam, Prudential plc has set up a hundred-percentforeign owned consumer finance business called Prudential Vietnam Finance Company Limited
(Prudential Finance), becoming the first fully foreign-owned consumer finance company to be granted a license by the State Bank of Vietnam. Prudential Finance has launched its business in key geographic locations from October 9th, 2007.
Recently Prudential Finance has obtained the approval from the State Bank of Vietnam to increase its charter capital from US dollar 7.5 million to US dollar 23.125 million according to Decision No 1144/QD-NHNN on May 23, 2008