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Press Release

Finova Capital chooses Nucleus Software to power business growth

September 28, 2017 | Press Release
  • - Leverage digital for extending credit to lower income segment
  • - Cloud-based deployment to provide business agility and reduced time to market

 

New Delhi, India. September 28, 2017 - Nucleus Software, the leading provider of lending and transaction banking solutions to the global financial services industry, today announced that Finova Capital, a Jaipur-based Non-Banking Financial Company (NBFC) has selected FinnOne Neo Cloud, the award winning loan life cycle management solution to digitise their lending business.

 

Founded in 2015, Finova Capital offers business loans to lower income segments in rural and urban areas. As a part of their strategic business expansion plan, Finova Capital has recently announced that it is targeting 500% growth in its loan portfolio this year. To fuel this growth, the company is providing an innovative digital experience to its customers.  

 

Finova Capital has chosen Nucleus Software’s FinnOne Neo Cloud to set up a completely automated and paperless loan processing capability. The company aims to provide simpler and faster credit decision making as a key differentiator. FinnOne Neo Cloud will make Finova’s operations more agile, scalable and cost efficient. The company will be able to reduce their time-to-market and offer customer centric loan services across multiple channels. Finova will also implement Nucleus mobile lending solution – mCAS. It will help them to perform paperless data sourcing, check application statuses, and submit field investigation responses.

 

Mr. Mohit Sahney, Founder Director of Finova Capital said, “We have a very ambitious growth plan and we believe that digital will play a vital role in this journey. Nucleus Software is the market leader and FinnOne Neo is best suited to the needs of the NBFC segment. We are confident that by leveraging the power of digital with FinnOne Neo, we will be able to realize our vision of transforming credit delivery to the unorganized and unserved population in India”.

 

Mr. Vishnu R. Dusad, CEO, Nucleus Software said, “We are proud to be in a position to help Finova Capital in their mission to  improve the quality of life for the lower income segment in India. This is something that we firmly believe in. Today, innovative financial services companies are leveraging digital and cloud to expand their credit reach across India and we are happy to partner with them.  In the last couple of months, our success with FinnOne Neo cloud in the leading NBFCs in India shows that we are well placed, and have the right experience and technology”.  


About Finova Capital :

 

Founded in 2015, Finova Capital’s aim is to reach out to financially excluded unorganized, unreached MSME sector. The objective is to make finance available at a reasonable cost and deliver in a transparent manner. Finova stands for financial innovation. The company is headquartered in Jaipur and provides loan to both urban and rural poor to meet their productive requirements in starting new businesses or for growing an existing businesses. Finova is a young, growing company with a big vision: to transform credit delivery to unorganized, unreached and unserved segments.

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