September 25, 2013
| Press Release
New Delhi, September 25, 2013
Nucleus Software Launches FinnOneTM Mobility Solutions
– Nucleus Software Exports Limited (NSE: NUCLEUS, BSE: 531209), a leading provider of software products and solutions for global banking and financial services industry, has announced that its leading and award-winning global #1 lending solution FinnOne™
* is now available on mobile to add enhanced value to the banking and financial services industry. Delivering a combination of functionally rich, highly flexible, secure and scalable mobile banking solutions, the FinnOne™ Mobility product suite is compatible on mobile platforms including Android, Blackberry (RIM), Symbian, and Windows and can also work on low-end mobiles and tablets.
Nucleus Software’s FinnOne™ mobility suite includes three modules namely FinnOne™ mCAS, FinnOne™ mServe and FinnOne™ mCollect. To address the need of the rapidly-growing mobile banking industry, each standalone solution has been designed to meet a specific market demand.
Recently, the company announced that Religare Finvest Limited (RFL), the SME-focused lending arm of Religare Enterprises Limited (REL) and one of India’s largest capitalized NBFCs, went live with Nucleus Software’s FinnOne™ mCollect module. Leveraging the advantage of mCollect, RFL was able to enjoy 85% reductions in float money in the system, 70% reduction in cost per receipt, and Turnaround Time (TAT) reduction of 1-2 days.
Commenting on the launch, Mr. Ravi Pratap Singh, Head of Global Product Management, Nucleus Software
said, “Today, financial institutions are looking at solutions that are not just easily accessible to end-customers but also enhance operational efficiencies by empowering the field teams with anytime-anywhere access to information, tasks and transactions. Nucleus Software’s FinnOne™ mCAS, mServe and mCollect each offer unique business benefits to our customers including operational efficiency and greater customer delight. Our Mobility suite has already started delivering significant business benefits to some of our key customers. Powered by our domain expertise and a proven track record of successful implementations across geographies, we will take mobility to the next level of banking innovation”
FinnOne™ mobility offering has significant business advantages such as reduced turnaround time for greater customer delight, stronger risk management for credit assessments during acquisition and delinquency, compatibility on all handsets with self-explanatory menu options, a Plug and Play application and increased operational efficiency with the means to reduce redundant activities and paperwork.PRODUCT BENEFITSFinnOne™ mCAS
is the mobile extension of the customer acquisition and underwriting module. The product speeds up customer acquisition through quick data entry, application approval, field investigation, initial money collection, customer status enquiry and EMI calculation, thereby increasing operational efficiency and improving service delivery. The product encourages financial inclusion by extending formal banking system among customers in under-banked and unbanked areas. FinnOne™
mServe makes loan management possible on the go and allows the mobile application user to view, download and e-mail documents such as account statement, foreclosure simulation report, repayment schedule and income tax certificateFinnOne™ mCollect
module empowers lending institutions to extend their mobile service options to field collectors for better delinquency management and automating the process of field debt recoveries. *Nucleus Software’s FinnOne™ has been ranked as the Global No. 1 Lending Software solution for five consecutive years by IBS Publishing, UK in their Sales League Table 2013 for banking product sales