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Press Release

Highlights: Amlak Finance PSJC Selects Nucleus Software's flagship Product FinnoneTM

October 11, 2007 | Press Release
Dubai, UAE, 10th October 2007: Amlak Finance PJSC, the largest publicly listed Islamic Home Finance Company offering Sharia'a solutions, announced at a signing ceremony that it has signed a contract with Nucleus Software and will utilize its flagship 'FinnOne™' retail products. Amlak will implement the FinnOne™ Customer Acquisition System (CAS) and FinnOne™ Collections Modules.

The implementation of this system will allow Amlak Finance to provide greater efficiency to all of its clients. By utilizing the new modules, Amlak's finance approval processing mechanism will be enhanced by complimenting the function of its existing financing systems.

Amlak appointed Cedar Management Consulting, a leading Management and IT consulting firm to facilitate the selection process of this new system. Cedar will also help in project managing the implementation to ensure overall alignment with international best practices and Amlak's business strategy.

Speaking on the occasion, Arif Alharmi, CEO of Amlak Finance commented, "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."

"This is a strategic win for us" comments Vishnu R. Dusad, CEO & MD, Nucleus Software Exports Limited, "Together, we will be able to create a value that will benefit the customer immensely. Increased efficiency and automation are benefits that the consumer is certain to enjoy."

"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 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