April 20, 2009 | Press Release

What are the areas your company focuses on and what are the challenges you face?

As an IPR led company our focus is on aligning our intellectual capital to the dynamic banking business requirement. The fastest growing and often the most profitable part of business today is Lending and the focus of a Lending solution is on the reduction in average cost per loan. Therefore the requirement is of a scalable, secure and flexible technological platform that provides robust management of credit risk and non-performing loans among other things.

Nucleus' award winning flagship product FinnOne is a software product solution that is designed to provide operational support, risk management and decision making support to banks and financial services companies. The FinnOne suite provides solutions for the assets as well as liability sides of business in addition to account management , core financial accounting, risk management, document management and customer services.

Today Nucleus Software has emerged as not only a preferred banking software solution company worldwide but it is the only Indian "Niche" player in banking and financial services domain. We have launched six new modules to the upgraded version of our flagship product FinnOne Ver 3.5. These new modules will provide banking and financial institutions worldwide with end-to-end technological and operational excellence to cushion the risks of lending and are a testimony to Nucleus' products' capability to drive innovation in the lending business.

How are you coping with the current recessionary business climate?
Less than one percent of our revenue comes from US. The current recession climate is quite unpredictable because simultaneously many things are unfolding globally. At Nucleus we believe we should learn to convert each slump into opportunity and a lot of credit goes to our customers who believe in us.

For three consecutive years not only our flagship product FinnOne has been ranked amongst the top selling lending software products worldwide but have we been recognized amongst the top 25 companies across the nation adopting good corporate governance practices . Forbes ranked us amongst Asia's 200 Best Under a Billion companies for the second time in row.

In the first six months of the fiscal year itself, as on September 30, we have added 15 new customers and won 17 new product orders and 64 new product modules across geographies.

Over the last ten years large enterprises have automated their business processes and increased their efficiencies by deploying information technology, what has been your own experience in this regard?

Technology has been identified as a top profit driver especially the technology required to build strategic alliances with customers and other stakeholders. Innovation is another significant driver of profits. Organizations are investing heavily in new information technology to primarily enhance their operational efficiencies to boost their revenue. In this emerging environment, innovation can take many forms. Increasingly powerful customers and intensifying competition seem to be the most significant forces that will drive the industry change over next decade in addition to technological innovation.

How critical in your view is technology to the success of banks today?

In recent years, technology has become increasingly important for the evolution across industries. In banking sector, retail delivery systems and the development of new electronic retail products are some of the developments. The ability to deliver new advanced technology products reliably has become a central theme in the marketing strategies of a growing number of banks. Few aspects of the business that technology addresses are:

1. Increase in revenue & operational efficiency
2. Reduction in cost & enhanced productivity
3.  Reduction in cycle time & time-to-market
4. Control & management of risk
5. Improved customer experience

Most institutions see introducing new products and services as a necessary step for retaining highly valued customers and for positioning themselves strategically for future.

Do you think that IT can be leveraged for business innovations or is IT only a tool that aids business operations?

Of course IT can be leveraged for business innovation. Innovations in technology, products, processes and management techniques have helped in significantly reducing the cost of a service delivered. With the advent of IT, the scenario is slowly, but steadily changing and innovation is directed at ensuring that its benefits flow to the business offerings. By strategically harnessing technology and innovation organizations can provide better service and delivery and strengthen ties with customers.