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Atlas Finance to use Nucleus Lending Analytics to make faster, better lending decisions

September 18, 2017 | Press Release

  • - Enhance customer experience with faster and more efficient on-boarding processes
  • - Ensure higher recovery rates in all the stages of delinquency with lower collection costs

 

New Delhi, India/ South Africa, September 18, 2017 - Nucleus Software, a leading lending and transaction banking solutions provider, today announced that Atlas Finance, a micro-finance company in South Africa, has chosen Nucleus Lending Analytics to help them leverage the insights provided by their data to make faster, more informed lending decisions.

 

Established in 1994, Atlas Finance serves 500,000 customers through a network of over 160 branches in South Africa. The company’s goal is to become the most trusted and preferred provider of personal loans; to help customers achieve their goals by providing them with loans responsibly, building their trust by serving them with dignity, respect and sincerity. Atlas Finance was looking for a means to reduce their non-performing loans, through the use of a sophisticated lending analytics solution to complement their Score Card needs. This would enable them to make data driven decisions seamlessly throughout the lending value chain. The company needed a dynamic solution in order to process loan applications in real-time, while also easily integrating into their technology landscape.

After a rigorous evaluation of the leading solutions available in the global marketplace, Atlas Finance selected Nucleus Lending Analytics due to its unique combination of product capabilities and system flexibility. With cutting edge statistical and data analysis capabilities, Nucleus Lending Analytics is a powerful and user-friendly solution enabling informed decision making through data visualization and business insight generation. The solution uses sophisticated predictive scoring models to allow financial institutions to create scorecards that span the entire loan management life cycle—from lead generation to collection. With Lending Analytics, Atlas Finance will now be able to make faster decisions, enhance customer experience with faster and more efficient on-boarding processes, and ensure higher recovery rates in all the stages of delinquency with lower collection costs.

Mr. Jack Halfon, CEO, Atlas Finance stated, "At Atlas Finance we wanted a dynamic predictive analytics solution to help us process loan applications in real-time, while also easily integrating into our technology landscape. Nucleus Software's Lending Analytics offers a unique combination of sophisticated product capabilities and advanced system flexibility. We look forward to leveraging the solution to make our decisioning processes across the origination and collections stages of our retail loan products faster, simpler and better."

Danny Mofsowitz, Marketing Director, Atlas Finance stated “From a marketing perspective, these analytics will allow us to gain a deeper insight into our clients and assist us in providing products and services that are relevant and appealing to specific segments. We are incredibly excited to see the results of our collaboration with Nucleus”.

Niresh Gopichand, Director of Risk, Atlas Finance quoted,“ Managing risk has become far more complex than it was in the past. Analytics has become a key function in collections and the more information we have in assessing risk, the more accurately we can pass credit. The results can only be of benefit to our clients as well as Atlas Finance”.  

Mr. Vishnu R. Dusad, CEO, Nucleus Software said, “We are proud to be able to help Atlas Finance unleash the power of their data with Nucleus Lending Analytics. Atlas Finance’s focus on helping customers by serving them with dignity, respect and sincerity mirrors our own mission and that’s why we have grown from 1 customer in Africa 13 years ago to 18 across the continent today. We look forward to helping Atlas Finance transform financial services in South Africa.”

“Unlike traditional analytical tools which cater to a wider set of industries, Nucleus Lending Analytics is designed specifically to address the analytical needs of lending industry. We are already witnessing a lot of interest from financial institutions across the globe. Along with Atlas Finance, the solution has now been taken up by many Banks and Finance Service companies in Africa, India and the Middle East for complete loan life-cycle management by enabling more effective decision making, comprehensive portfolio management, increased collection effectiveness and streamlined operations,” Mr. Dusad further added.



About Atlas Finance:

Atlas Finance opened its first branch in Johannesburg in 1994, with the vision of serving a market that had previously been underserved, in an ethical and professional way. Privately owned, it has grown its retail footprint nationally to 162 branches, providing small loans on a short term bases to the South African public. Over the years, Atlas Finance's growth has been both organic and acquisitive. Its vision is to expand substantially in the brick-and-mortar retail space as well as digital channels over the short to medium term, while maintaining their entrepreneurial and relationship-centric culture. For more information, please visit http://atlasfinance.co.za/

 

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