Request a Meeting!
Request a Meeting!
Request a Meeting!

Request a Demo
Request a Demo
Request a Demo

Saudi Arabian Auto Finance Major, Aqsat International chooses Nucleus' FinnOneTM Suite

September 13, 2011 | Press Release
New Delhi, India, September 13, 2011: Nucleus Software Exports Limited (NSE: NUCLEUS, BSE: 531209), a leading global provider of integrated software products for banks and financial institutions, today announced that the Saudi Arabian Auto Finance company, Aqsat International Trading Co. ltd, has chosen its flagship & award-winning product, FinnOne™, to completely automate the business operations.

Aqsat International will be using FinnOne’s Customer Acquisition System (CAS), Loan Management System (LMS), Collections & Delinquency Management, Securitization, Power Pay, Document Management System, and Fleet Finance as part of the FinnOne™ Suite to automate business operations and reduce turn-around time.

“Today owning an auto vehicle has become a necessity rather than a luxury. We aim at supporting people in fulfilling this necessity by providing loans and other financial aid towards owning or renting vehicles. After evaluating FinnOne™ past success across geographies, we selected this flagship & award-winning product to efficiently manage our clients and all monetary operations. Finnone™ will surely help us build a competitive advantage and expand our reach in the Saudi Arabian market. We look forward to a fruitful association with Nucleus Software,” said Abbas Mohammed Al-Nahdi, Executive General Manager, Aqsat International.

Mr. Vishnu R. Dusad, CEO and Managing Director, Nucleus Software Exports Limited, said, “The auto industry offers a great opportunity for Nucleus’ products and is a key focus area for Nucleus’ growth strategy. This partnership with Aqsat International will enable the company to better penetrate the Saudi Arabian market and strengthen its position further. We are sure that implementing a next-generation complete banking suite such as FinnOne™ will give Aqsat the technological edge in offering better products and services to their customers and in turn take them several leaps ahead of their competition.”

Aqsat International is a customer-centered credit company, committed to provide value-adding, quality services to its customers. The company has an immense penetration in the Saudi auto finance sector. The organization provides Shariah-compliant financing solutions complemented by established experts in financing. Aqsat International is planning product implementations in the offices already established in the main BMW and Hyundai showrooms. The company will also expand product implementation capabilities throughout all branches across Saudi Arabia.

About Aqsat International
Aqsat International Trading Company is owned by Mohammed Yousuf Naghi Group (MYNG). From its long existence in Credit Sales Business as a division of Naghi Motors, the separate legal entity as Aqsat International Trading Company was incorporated in 2007 to support the credit sales of all the vehicles lines of Naghi Motors and diversify its portfolio in other line of business in a long run. They specialize in Islamic leasing with a promise of ownership with very competitive product offering in installment sales and for leasing with insurance coverage and credit information services for purchasing brand new and pre-approved cars in Saudi Arabia capitalizing on our captive business and current business portfolio. www.aqsat.com.sa.

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