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Philippine Business Bank selects Nucleus Software to automate its Loan Origination Process

November 15, 2010 | Press Release
New Delhi, November 15 2010: Nucleus Software Exports Limited (NSE: NUCLEUS, BSE: 531209) today announced that Philippine Business Bank, one of the largest savings bank in Philippines, has chosen the Customer Acquisition System (CAS) Retail module of its award winning FinnOne™ suite. Nucleus Software will empower the bank’s consumer lending division, including consumer loans like salary, auto and mortgages, across its 55 branches.

Philippine Business Bank offers loans and deposit services to its customers in Philippines. With its vast functionalities and domain expertise, FinnOne™ CAS retail will automate the bank’s loan origination process, leading to higher productivity, efficiency and flexibility to meet the ever changing market requirements. After the implementation, the bank will be able to undertake online credit evaluation and tracking of application forms.

Commenting on the partnership, Mr. Danilo A. Alcoseba, President and CEO, Philippine Business Bank, said, “By leveraging the CAS retail module from Nucleus’ state of the art, FinnOne™ suite, we hope to streamline our entire loan origination process. Our aim is to stay ahead of the curve in the country’s consumer lending space. By assisting our systems with flexibility in launching new products and credit evaluation, it will allow us to go more aggressive in the consumer segment and penetrate the consumer lending market more effectively.”

Mr. Niraj Vedwa, COO, Nucleus Software Exports Limited, said, “The Philippines market has always offered great opportunities for Nucleus’ products and has been a key focus area in our growth strategy. This partnership with Philippine Business Bank further strengthens our commitment to offer cutting edge technology products for the banking and financial institutions in Philippines.”

About Philippines Business Bank:

Philippines Business Bank, one of the biggest savings banks in Philippines today; started operations on February 12, 1997 as TOTAL SAVINGS BANK and obtained S.E.C. approval of its change in corporate name before the year was over. The Bank’s current name sets out clearly its thrust and future plans. 

To keep itself close to the small and medium scale businesses which includes both small and medium enterprises (SMEs) and large companies which it seeks to serve, Philippine Business Bank operates from its office in Caloocan City, not in the plush of Makati or Ortigas business centers as favored by other banks.

Although considered as a newcomer in the banking community, PBB established 10 branches in its first year. By the end of its second year, it had 15 branches in Metro Manila and neighboring business centers. In the next years, PBB aims to branch out into the country's other business hubs. As of end 2009, Philippine Business Bank has a total of 55 Branches nationwide.

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