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Press Release

Amlak Finance PSJC selects Nucleus Software's flagship product FinnOneTM

October 12, 2007 | Press Release
New Delhi, October 12, 2007: Nucleus Software Exports Limited (NSE: NUCLEUS, BSE: NSEL), a leading global provider of integrated software products for banks and financial institutions, today announced an alliance with Amlak Finance PJSC, the largest publicly listed Islamic Home Finance Company offering Sharia’a solutions, and a pioneer of home finance in the UAE by providing them with FinnOne™ retail suite of products.

With the implementation of Nucleus FinnOne™ Customer Acquisition System (CAS) and FinnOne™ Collections Modules Amlak will enhance its finance approval processing mechanism and effectively compliment their existing financing systems by leveraging their international best practices. The selection of the system was managed by Cedar Management Consulting – a leading Global Management and IT Consulting firm. Cedar has also been instrumental in managing the implementation to ensure alignment with the overall business strategy.

Commenting on the selection, Arif Alharmi , CEO, Amlak Finance PJSC said, “Streamlining our approval processing system with the Nucleus software, FinnOne, will not only make our existing system even more effective, but will also quicken the turnaround time for the application evaluation. Our home finance clients will benefit from this faster approvals procedure. As this system is used throughout the globe, we are pleased to be achieving international standards in application processing.”

Mr. Vishnu R.Dusad, CEO & MD, Nucleus Software Exports Limited said, "The Middle East's banking sector has become increasingly competitive, with providers constantly seeking ways to reduce operational costs. Having a strong client base in the Middle East region, we have the expertise in providing banks with the best in technology to suit their needs & help them achieve their overall business goals.”

Nucleus with its flagship product FinnOne™ has over 140 clients across the globe. It is a fast - growing player with a leadership position in regions spanning APAC, Europe, Middle East and Africa Nucleus, today, commands leadership position in the domestic retail banking space with a client base comprising most leading banks in India. Experiencing exponential growth in the retail-banking scenario, Nucleus is focused to deliver strong technology offerings, enabling financial institutions to meet the demands of the dynamic business world.

“Implementing this world-class software will translate into a value-added benefit to our clients when they experience a quick turnaround time in the processing of their application. Amlak continually strives to offer the best services to its customers, through investing time and resource in market leading technologies such as the Nucleus software,” concluded Alharmi.

About Amlak Finance PJSC (Amlak)

Amlak is the largest publicly listed Islamic Home Finance Company offering Sharia’a solutions, and a pioneer of home finance in the UAE. Amlak was established in November 2000 as a wholly-owned subsidiary of its still major shareholder Emaar Properties PJSC (Emaar). Emaar currently holds 45% stake in the company. Amlak has been listed in the Dubai Financial Market since March 2004.

About Nucleus Software

Nucleus Software Exports Ltd. is a publicly traded (BSE: 531209, NSE: NUCLEUS), software product company that provides lending and transaction banking products to global financial leaders.

Nucleus Software powers the operations of more than 200 Financial Institutions in over 50 countries, supporting retail lending, corporate banking, cash management, mobile and internet banking, automotive finance and other business areas. Its products facilitate more than 26 million transactions each day, managing over US $ 200 billion of loans and enabling more than 200,000 users logging in daily.

Nucleus Software’s flagship products, built on the latest technology are:
  • FinnOne NEOTM : The next-generation digital lending solution that is built on an advanced technology platform, designed to shape the future of lending across Retail, Corporate and Islamic sectors for banks and other financial service companies. The 10 time winner of ‘World’s Best Selling Lending Solution’, helps digitize the complete loan lifecycle.
  • 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.
  • PaySeTM : The world's first online & offline digital payment solution designed and created with an aim to democratize money by making banking services available to the unbanked in remote geographies.
For more information, please visit : http://www.nucleussoftware.com

For Media related information, please contact:

Sunil Kumar Singh / Kiran Hans Khowal

Finese PR

Email: nucleus@finesepr.com
Phone: +91-9818363518 | +91-8375969143