January 20, 2007
| Press Release
New Delhi - 19 January 2007
ACOM Japanese Leading Consumer Finance Company Awards a Contract To Nucleus Software
Nucleus Software Exports Limited (NSE: NUCLEUS) a leading global provider of software products for the banking and financial sector today announced that they have been awarded a contract from ACOM CO. Ltd. a leading consumer finance company in Japan to implement FinnOneTM and PowerCARD and offshore development services to be offered from India. New technology at ACOM is expected to be live by sometime in 2009 followed by supporting the same from India which is separate from this deal and follow when new technology will be live.
ACOM selected Nucleus’ flagship product FinnOneTM for refurbishing their loans, guarantee, and credit card business. The scope of the deal covers endto-end IT transformation of ACOM consumer finance operations across its branches and networks. Winning the biggest order ever for Nucleus Software this deal strengthens Nucleus Software’s position as a leading global player offering path-breaking technology for the Banking & Finance segment.
This win also establishes Nucleus as one the few Indian players offering IT expertise to the banking giants across boundaries. ACOM views the alliance with Nucleus Software as strategic opportunity to construct new computer system, promote offshore development which helps attain drastic reduction of system development, maintenance & running cost. Introduction of FinnOneTM will help ACOM in restructuring general ledger, operation and connection system, which supports loan, credit card and guarantee businesses. It will also enable improved expandability and flexibility. Overall it provides ACOM an opportunity to overhaul their traditional IT framework an edge in the market and over their competitors.
FinnOne™ retail solution automates and manages the complete application processing flow for Retail/ Corporate Financing as well as credit cards, allowing banks and non-banking companies to integrate the different touch-points in their supply chain for acquisition prospecting and pre-disbursal processing. The solution ensures anytime, anywhere access, ensuring ease in operation and instant information availability to the financial institution on credit card transactions. The solution also allows seamless integration between branch/ regional offices and the central processing department of the institution.
“This is amongst the largest win by any Indian product software company and Nucleus is honored to have won it. This win is an indication of the potential and passion of Nucleus in creating groundbreaking banking and non banking financial products and solutions. It is an endorsement of the keen understanding of banking and non banking industry that has led Nucleus Software in winning the most coveted deals across the globe. We are happy to be partnering with ACOM in their journey towards business excellence and superior customer service.” Says Vishnu Dusad, CEO & Managing Director, Nucleus Software.
ACOM’s vision is to achieve business transformation by leveraging technology. "We are re-modeling our IT processes and applications for delivering superior quality of services and a wide product portfolio to our customers. Nucleus’ proven track record in the BFSI sector and deep domain expertise made it a natural partner for this engagement.” Says Junya Fukuda, member of board of ACOM. “The engagement with Nucleus will assist ACOM to accelerate growth in business volumes while achieving operational excellence. As we set out on our journey towards business excellence – we are happy to have a trusted and experienced partner like Nucleus.” he further added.
Nucleus with its flagship product FinnOneTM today has over 134 clients across the globe and commands leadership position in the domestic retail banking and financial space with clients spanning among most leading banks and non banking institutions in India.