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Press Release

Nigeria's United Bank for Africa Deploys Nucleus Software's FinnOneTM

February 19, 2007 | IT News Online
Nucleus Software Exports Ltd., a provider of software products for the banking and financial sector, announced that United Bank for Africa Plc (UBA) Nigeria, the largest financial institution in Nigeria has selected Nucleus' flagship solution - FinnOne CAS, Lending and Collections Suite.

The company said this win establishes its presence in the African banking industry, being the second order from Nigeria in less than a year. With this implementation, UBA will overhaul its entire credit and loan operations across the country.

UBA, with a network of over 500 Branches, emerged as the first successful corporate combination in the history of Nigerian banking. It is the first Nigerian Bank with a Balance Sheet in excess of the One Trillion-Naira mark as well as the only African Bank to have a Branch in New York.

FinnOne is an integrated suite of applications designed to support the whole spectrum of business offerings of Banks and Financial Institutions. FinnOne CAS automates and manages the complete application processing flow for Retail/ Corporate Financing as well as Credit Cards, allowing banks to integrate different touch-points in their supply chain for acquisition, prospecting and pre-disbursal processing.

FinnOne Lending is built with the objective of providing operational and decision-making support to all the asset side business lines. The product also assists in introducing new product offerings and tailor made schemes, reducing time-to-market and automating processes providing a distinguishing factor within the retail loan space.

FinnOne Collections manages the entire collections and focuses on tracking and managing delinquent customers. This enables organizations to effectively minimize delinquencies through a series of proactive actions and tighter supervision. It is a unique platform that comes loaded with add-on modules, supporting any phase of distressed receivables lifecycle and enabling powerful recovery management.

Vishnu Dusad, CEO and MD, Nucleus Software Exports Ltd., "Our successful track record of FinnOne implementations across the globe stands testimony to our vision and mission of being a leading global player in the Banking and Financial industry. United Bank for Africa Plc (UBA), Nigeria is the largest financial services institution in West Africa and this order shows our commitment to the market."

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