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Press Release

Nucleus Software and GMAC sign licensing deal

February 23, 2005 | Press Release
New Delhi, February 23, 2005: Nucleus Software Exports Limited (NSE: NUCLEUS, BSE: NSEL), a leading global provider of integrated software products for banks and financial institutions, today announced that it has entered into a licensing arrangement for its flagship product FinnOne TM with General Motors Acceptance Corporation’s international operations.

Under the terms of the contract, Nucleus Software has granted a Corporate Software License for FinnOne TM to GMAC’s international operations for a rollout in Europe, Latin America and Asia Pacific.

Commenting on the contract, Vishnu R Dusad, Managing Director, Nucleus Software said, “ We are extremely happy to announce this landmark deal for our software product, which is the result of hundreds of man years put in by our Software engineers. Nucleus Software has focused for years on product development for the BFSI vertical and had earlier implemented the product in the Asia Pacific region for GMAC. The proposed rollout across Europe, Latin America and Asia Pacific regions would encompass mature markets and further enhance our understanding of the processes and product functionality requirements across the globe.”

“Nucleus is a proven supplier to the financial services industry, as supported by the composition of their blue chip client portfolio. Their systems development technology is deemed to be one of the key enablers to support GMAC’s objective of implementing best-practice systems and processes across its International Operations” says John Robert Jones, Vice President GMAC. “We expect an even better quality in our customer service and a reduction of our operating expense”, adds Jones.

About General Motors Acceptance Corporation

General Motors Acceptance Corporation (GMAC), a wholly owned subsidiary of General Motors Corporation is one of the world's largest financial service companies with business lines in Automotive Finance, Commercial and Residential mortgages, Commercial Finance and Insurance. GMAC has operations in 41 countries. Since inception in 1919, it has extended more than US $ 1.3 trillion in credit to help finance more than 158 million vehicles worldwide. International financing operations, which conduct business in 37 countries outside of the U.S. and Canada, earned $279 million in 2003.

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 $ 500 billion of loans and enabling more than 500,000 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.
  • FinnAxiaTM : An integrated global transaction banking solution used by banks worldwide.
  • PaySeTM : The world’s first online & offline digital payment solution created with an aim to democratize money.
For more information, please visit :

For Media related information, please contact:

Sunil Kumar Singh / Kiran Hans Khowal

Finese PR

Phone: +91-9818363518 | +91-8375969143