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Nucleus Software releases the latest version of its Integrated Transaction Banking Solution - FinnAxia 3.0

March 19, 2016 | Press Release

New Delhi, India 09 March, 2016 Nucleus Software, the leading provider of lending and transaction banking solutions to the global financial services industry, today announced the release of FinnAxia 3.0, the latest version of its next-generation integrated transaction banking product suite.

With the global transactional-banking market projected to grow to almost $2 trillion by 2024, financial institutions are increasingly looking at leveraging technology to not only counter the ever-rising tide of compliance-related complexities but also improve their customer engagement and service levels. FinnAxia 3.0 will enable banks to eliminate multiple siloed applications and includes a Direct Debit solution based on internationally accepted ISO20022 messaging standards which makes it compliant with the major payments and settlement systems across the globe including the SEPA Direct Debit Mandate (SDD) in Europe and NACH in India. 

The integrated transaction banking solution helps bank’s corporate customers reduce their account receivables cycle thereby optimizing Days Sales Outstanding (DSO). FinnAxia 3.0 also comes with sophisticated cash forecasting capability which allows the banks to make better- informed decisions and ensure availability of the right amount of funds at right time and right place thus enhancing its working capital management. It provides a single view of the customer to the bank across all its branches for pending actions and supports partial and full invoice reconciliation with all payment types (Cash, Electronic and Paper). The solution’s modular and open architecture allows seamless interfacing with third party anti-money laundering systems to help banks detect payment related frauds in real-time.

Mr. Ravi Pratap Singh, Head - Global Product Management & Executive Director, Nucleus Software said, “The latest release of FinnAxia builds on our global experience in transaction banking and empowers financial institutions to establish and maintain a market-leading presence through the flexible, speedy and efficient execution of transaction banking processes. It also provides a dual advantage of ease of operation combined with greater system integration for the banks’ corporate customers. With a unique blend of domain and technology expertise, FinnAxia 3.0 has been designed to address the corporates’ ever changing working capital management and transaction processing needs”.

FinnAxia 3.0 comes with a more scalable and flexible online banking solution named Business Internet Banking (BIB) that will help banks meet their customers' evolving needs. The solution has added security enhancements in the areas of password policies, grace periods and transaction passwords. Internal communications has been strengthened with the newly launched chat feature to enable broadcast, multicast and unicast messages. BIB also enables banks to support their corporate customers’ expansion into new geographies with a foreign currency module that makes foreign currency payments to onsite employees easy for the corporates. There is a provision for the creation and management of a helpdesk to ensure a smooth experience for the banks’ customers.

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