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Philippines Banks go live with "out of the box" FinnOneTM solution from Nucleus Software

January 22, 2013 | Press Release
Philippines, January 22, 2013: Nucleus Software Exports Limited (NSE: NUCLEUS, BSE: 531209), a leading global provider of integrated software products for banks and financial institutions announced going live of First Valley Bank and Bank of Florida on its FinnOne solution for enhanced banking experience in the Philippines market. Nucleus implemented the “out of the box” version of its award winning solution FinnOneTM in record time-to-market which has delivered significant operational benefits across all branches for both the banks.

FinnOne™’s capabilities of enabling faster decision making and managing the day to-day operational challenges faced by banks in Deposits, Lending and CASA Management, effectively and efficiently, will establish a new level of credibility among the bank’s rural customers. Available with innovative pricing options, the “out of the box” FinnOne is targeted primarily at the Rural and Thrift segments of the Philippines banking market.

FinnOne™ suite will allow First Valley Bank and Bank of Florida to ensure anytime- anywhere access, ease in operations and instant information for its sales, credit and operations teams. The solution further automates and manages the complete application processing flow for retail banking. This will also allow First Valley Bank and Bank of Florida to integrate different touch-points in their supply chain, enabling efficient and timely services to customers.

Atty Sonny Lim, President, First Valley Bank, said, “FinnOne™ was a clear choice for us owing to the product’s success across regions along with the speed and scalability it offers. We are confident that FinnOne™ will provide us a strong, secure and technologically advanced platform for enhanced customer service across branches.”

Teresa David-Carlos, President, Bank of Florida said, “After evaluating FinnOne™ past successes across geographies and especially in Philippines, we selected this flagship product to efficiently manage our retail customers. FinnOne™ will help us to build a centralized automated system that allows us to simplify the current processes and better serve our customers across regions.”

Mr. Vishnu R. Dusad, Chief Executive Officer and Managing Director, Nucleus Software Exports Limited, said, “Constant innovation and upgradation of banks’ internal systems and processes is imperative in today’s times. We are glad to be partnering with First Valley Bank and Bank of Florida and are confident that our solutions will help build a secure and scalable retail banking infrastructure and enhance customer experience. We look forward to a long term business association with the banks and a continued flow of great opportunities in the Philippines market for our products and services.”

FinnOne™’s capabilities of enabling faster decision-making and managing the complete Assets and Liabilities portfolio will help First Valley Bank and Bank of Florida establish a new level of credibility with its customers. The product modules spanning across Deposits, CASA, Loans and GL along with valueadded features like real-time payment acknowledgement, mobile extension and enhanced security, will streamline processes and reduce the turnaround time.

This implementation reinforces Nucleus Software’s focus in the Philippines market. The company is working closely with customers in Philippines through its local office in Manila. In the South East Asian region, the company has offices in Singapore, South Korea and Philippines and is a leader in the banking software space in South-East Asia.

For further information,please contact:
Sini Joseph
Nucleus Software Exports Limited
Phone: +91 – 120 – 4031400
Mobile: +91 - 9899114822
Email: sini.joseph@nucleussoftware.com

About First Valley Bank
The Company has its roots on Rural Bank of Kapatagan Valley, Inc., a stock corporation founded on September 11, 1956. It became the 75th rural bank in the country after the grant of its license to operate on November 24, 1956. From its modest beginnings, the bank enjoyed an upsurge in growth and popularity as Kapatagan Valley Bank (KVB) becoming a byword to the communities where it operates. After its consolidation with the Rural Bank of Sinacaban on September 1, 2005, the Company has taken on a new name as 1st Valley Bank ready to chart another lifetime of excellent services. For more information, visit www.1stvalleybank.com

About Bank of Florida

The history of Bank of Florida is as colorful and vibrant as the very reason for its conception. For more than four decades, its mandate remains eternal and perpetual: to spur and pursue at all costs, in whatever situation, Philippine countryside development by proactively lifting the status of the Small and Medium Entrepreneurs and the country’s economy as a whole. With this burning desire, fuelled by a genuine concern for their cabalens became The bank’s first, small edifice in Del Carmen, Floridablanca which opened on November 10, 1964 became the catalyst that moved the town’s industrial and agricultural wheels to motion, with the banks President Teresa David-Carlos, spearheading the team of First Generation and Second Generation Davids and Non-Family Members, rolled out a series of professionalization and transition processes, reengineering the bank from top to bottom.

Bank of Florida's commitment is to be "a Caring Bank that is Deeply Rooted in the Communities that We Serve!" With this, we embark on a journey of culture cultivation, preservation and providing utmost quality of service in the communities being served.

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