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Nucleus Software wins its 14th order from Africa | Nucleus' FinnOneTM chosen by Zambia National Commercial Bank

September 24, 2009 | Press Release
New Delhi, September 24, 2009: Nucleus Software Exports Limited (NSE: NUCLEUS, BSE: 531209), a leading global provider of integrated software products for banks and financial institutions, today announced that FinnOne™ has been chosen by Zambia National Commercial Bank (Zanaco), a commercial bank in Zambia, Africa. Four modules of FinnOne™ - Corporate Customer Acquisition System (CAS), Retail Customer Acquisition System (CAS), Loan Management System (LMS), and Collections, will be implemented at the bank’s data centre for access to all branches of the bank.

FinnOne™ will technologically power the Operations, Credit, and Collection division across all branches for the lending and leasing operations of the bank. FinnOne™ will help Zanaco automate application processes and create a differentiated customer experience through unique offerings like online application processing and credit scoring.

According to Pieter Van Barneveld, Executive Director of Risk, Zanaco, “We were looking for a credible product that has gained acceptance across the globe and in the African market and which will help us make our retail and corporate lending / leasing process efficient and fast. FinnOneTM ’s proven track record with several leading banks in Africa and worldwide was key determinant for us in selecting FinnOne TM .”

Selected after a rigorous selection process of the various system proposals and vendors, FinnOne™ was chosen for its product features such as the ability to lower turnaround time of operations, flexibility, scalability and capacity to integrate with the banks’ numerous systems. FinnOne TM will also help Zanaco in complete automation of credit origination and approval process and provide end to end solution for retail and corporate lending and leasing operations. This would also result in a faster turnaround time and higher customer satisfaction.

Commenting on the announcement, Vishnu R. Dusad, CEO and Managing Director, Nucleus Software Exports Limited, said, “We are delighted to partner with Zanaco. We are confident that Nucleus Software will provide Zanaco a sound and technologically advanced platform to improve customer satisfaction. With an already established and fast growing client base for Nucleus in Africa, the region is strategic to our growth plans. Our unique value proposition based on minimizing risk and maximizing the opportunity for our clients is emerging as a key differentiator globally.”

About Zambia National Commercial Bank (Zanaco)

Zanaco was established by the Government of the Republic of Zambia in 1969 to foster national development and has over the years been and continues to be instrumental to the country's progress through various achievements namely:              
• Financing of development projects in all sectors of the Zambia economy
• Provision of affordable banking services to all • Infrastructure development in the un-banked rural and urban areas
• Training of Zambian nationals through skills development and employment creation
• Being actively involved in the development of sports and culture and other aspects of human development

Zanaco partnered with Rabo bank, a highly credible bank with a triple AAA rating, (the highest rating a bank can ever have) of the Netherlands in April, 2007. Under this partnership, Zanaco recognizes the new opportunities and the vibrancy of the Zambian economy and has thus designed broad based affordable banking services to its retail customers and structured innovative financial solutions for large corporations, agri-business and public sectors. 

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