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Nucleus Software wins a core banking deal at Malayan Savings Bank, Philippines

August 10, 2009 | Press Release
New Delhi, August 10, 2009: Nucleus Software Exports Limited (NSE: NUCLEUS, BSE: 531209), a leading global provider of integrated software products for banks and financial institutions, announced today they have won a core banking order for their product FinnOne™ from Malayan Bank, Philippines for the implementation of Complete Banking Solution to enhance bank's operations. Complete suite of FinnOne™ will be implemented at 9 branches of the bank including the head office.

The Core Banking Solution comprising CAS (Customer Acquisition System), LMS (Loan Management System), GL (General Ledger) & Deposits and Collections modules will integrate the Front-Middle-Back office functions. Speeding up turn-around time of operations resulting in higher banking efficiency and enhanced customer relationships.

The project is in conjunction with Malayan Bank’s branch expansion and product diversification program to generate new business opportunities, and expand its customer base. IP-Converge, a leading Information Technology & Telecommunications (IT&T) company, is the business partner / system integrator of Nucleus Software for this project.

Spread across seven cities, Malayan Bank is a savings and mortgage bank which is a joint undertaking of the major shareholders of GMA -7 Broadcast Network, LINQ Information Quadrant Corporation (a subsidiary of Philippine Daily Inquirer), Liberty Flourmills and Majalco Group of Companies. They are committed to traditional and non-traditional markets in the Philippines with priorities on mortgage banking, strategic customers, and micro, small, and medium enterprises.

FinnOne™ will help the bank provide a comprehensive, flexible and secured automated solution to the customers. The solution will provide the bank with a competitive edge and strong operational control. FinnOne™ comprehensive suite will enable Malayan Bank to service its customers more efficiently and enhance productivity.

Mr. Philip Madrigal, Senior Vice President of Malayan Bank, has commented on this choice by saying, “We are focused on a radical makeover of our banking infrastructure. FinnOne™ from Nucleus Software will support the bank’s aggressive business plans and act as an enabler to achieve its future growth plans and new business initiatives.

On this occasion, Vishnu R. Dusad, CEO & Managing Director, Nucleus Software, said, “South East Asia is an important strategic focus area for our banking solutions and we are offering world class solutions to banking and finance industry in this region. As a market leader we are committed to continual improvement in all aspects of our business and to be able to further reinforce product offer, service and delivery to our customers. Our sustained focus on providing excellent services to our clients and innovation in product development has got us this far and we are looking towards a bright future.”

About Malayan Bank
Malayan Bank is a savings and mortgage bank who formally joined the banking industry thirteen years ago, contributing a wide range of product lines and services that cater to the rising needs of the banking public. The bank foresees to be a leading thrift bank, ranking within the top 10 of the Savings and Mortgage Banking Industry. It is committed to its prudent banking and investment policies, ensuring that the bank’s primary drive of providing its clients with yield, security, and liquidity is sustained. Malayan Bank is active in micro-lending as well. With the onset of developments in technology, Malayan Bank hopes to foray into a more sophisticated system of electronic banking in order to achieve its vision and commitment to its stakeholders. The bank has an authorized capitalization of more than Php 3 billion.

About IP-Converge
IP-Converge is an Information Technology & Telecommunications (IT&T) company, providing a wide array of managed data services and business solutions at international standards. An ISO 9001:2000 Certified company, IP-Converge currently operates carrier-neutral, telco-grade Internet Data Center and network facilities in the Philippines, Hong Kong, and Singapore, and provides a variety of business solutions and services to local and international enterprises. A wholly-owned subsidiary of publicly listed IPVG Corp. (PSE: IP), the foundation of the company's business is centered on customer satisfaction through highquality, on time delivery and through a personalized, "boutique" approach to clients. For more information, visit www.ip-converge.com

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