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Nucleus Software helps DCB Bank digitize its Loan Process; enables DCB Bank win The ICONIC IDC Insights Award 2015

March 14, 2016 | Press Release

New Delhi, India 14 March, 2016 Nucleus Software, the leading provider of lending and transaction banking solutions to the global financial services industry, today announced that its flagship lending product, FinnOne Neo has digitized the loan application process for DCB Bank’s auto and commercial vehicle business lines. DCB Bank has won The ICONIC IDC Insights Award 2015 for Excellence in Transformation powered by Nucleus Software’s FinnOne Neo.

As a part of its business strategy to enhance its retail lending business and improve customer experience, DCB Bank implemented Nucleus Software’s FinnOne Neo to digitize their loan application process. FinnOne Neo, a comprehensive end-to-end loan lifecycle management product ensures credit decisions are taken in real-time helping DCB Bank meet the challenges of operating in a digital world. As a step towards boosting the Bank’s nationwide digitization and automation efforts, the centralized loan system can now be easily accessed from the branches even in remote locations which have limited network bandwidth connectivity. The recognition from IDC Insights for Excellence in Transformation for their ICONIC awards is testimony of how FinnOne Neo helped the Bank transform by increasing innovation and delivering a superior customer experience.


Mr. R. Venkattesh (Head HR, Operations & IT - DCB Bank) stated,
“Nucleus Software’s functionally rich solutions, proven track record and deep domain expertise made them the ideal partner to transform the assets business software. DCB Bank has been the first amongst peers to adopt the features and functionalities of FinnOne Neo. It supports DCB Bank’s ‘way-forward’ approach of digitisation, enhancing customer experience and investing in leading ‘Fin-Tech’ products and services. More so it creates value and transforms internal processes. We are delighted by the award and it strengthens our resolve to deliver outstanding customer experience with the help of advanced technology. DCB Bank will utilise FinnOne Neo to bring new products to market quickly, grow assets business and also improve operational excellence.”


Mr. Vishnu R. Dusad (CEO, Nucleus Software) said
, “We are honoured to work with DCB Bank and to support their visionary approach to digitization. At Nucleus, our continued focus is on providing outstanding solutions to our customers and innovation in product development. We are proud that our domain expertise and experience is helping our customers and we are delighted that DCB Bank has been recognized by IDC for their tremendous efforts. It demonstrates the vital role that technology plays in delivering outstanding customer experience. We look forward to continue to help DCB Bank as they expand their business and explore new ways to stay ahead of competition.”

About DCB Bank Ltd:

DCB Bank Ltd. is a new generation private sector bank with 176 branches in 115 locations across 17 states and 2 union territories. It is a scheduled commercial bank regulated by the Reserve Bank of India. It is professionally managed and governed. DCB Bank has contemporary technology and infrastructure, including state-of-the-art mobile and internet banking for personal as well as business banking customers.

The Bank's business segments are Retail, micro-SMEs and SMEs, mid-Corporate, Microfinance Institutions (MFI), Agriculture, Commodities, Government, Public Sector, Indian Banks, Co- operative Banks and Non-Banking Finance Companies (NBFCs). DCB Bank has approximately 500,000 customers.

The Bank has deep roots in India since its inception in 1930s. Its promoter and promoter group the Aga Khan Fund for Economic Development (AKFED) & Platinum Jubilee Investments Ltd. holds around 16% stake. AKFED is an international development enterprise. It is dedicated to promoting entrepreneurship and building economically sound companies. AKFED operates as a network of affiliates with more than 70 separate project companies over 47,000 people. The fund is active in 17 countries in the developing world. For more details, please visit www.dcbbank.com & http://www.akdn.org/akfed

Media contact:
DCB Bank will be delighted to take questions and feedback. Kindly contact Gaurav Mehta, Head Investor Relations, Marketing & PR at gauravm@dcbbank.com +91 987043210.

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