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Press Release

Dubai Islamic Bank selects Nucleus Software's flagship product FinnOneTM to manage its Retail Operations

February 21, 2007 | Press Release
New Delhi, India, February 21, 2007: Nucleus Software (NSE: NUCLEUS), a leading global provider of next generation software products for banking and financial sector announced today that Dubai Islamic Bank, world’s first fully-fledged Islamic bank has selected Nucleus’ flagship product FinnOneTM CAS to be implemented across 40 branches of the bank by end of 2007

The FinnOne™ CAS will allow for anytime, anywhere access, ensuring ease in operation and instant information availability to the financial institution. This win marks Nucleus Software’s foray into the Islamic Banking industry.

Nucleus has successfully consolidated its position, as a technology leader in the Japanese, Middle East, Africa and South East Asian markets and with the latest initiative will now prove its mettle in the UAE. Islamic banking is one of the world’s fastest-growing economic sectors, comprising close on 300 institutions responsible for assets estimated at more than $400 billion. With Nucleus Software solution, bank will gain the advantage of enhancing its operations, resulting in easy inter-operability across branches and developing efficient workflow systems in its Consumer Financing business.

“We are delighted to strengthen our relationship with Dubai Islamic Bank and are confident that we will enable the bank to establish new milestones in the UAE banking industry” comments Vishnu R. Dusad, CEO & MD, Nucleus Software Exports Limited, “It’s because of our sharp focus on unique markets and deep domain expertise that we have attained a leadership position in Middle East. We look forward to continuing our relationship with the bank and supporting them with our technology to maintain and consolidate their growth.”

Nucleus with its flagship product FinnOneTM today has over 134 clients across the globe. It is a fast - growing player with a leadership position in regions spanning APAC, Europe, Middle East, Africa, and America. Nucleus, today, commands leadership position in the domestic retail banking space with clients base comprising most leading banks in India.

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