November 6, 2008
| Press Release
Nucleus Software Exports Launches New Product Modules Under FinnOneTM
An integrated suite of applications designed to cater to the entire lending ecosystem of banks and financial services companies FinnOneTM version 3.5 includes modules like Lead Management System, Customer Service Module, Collateral Management System, PowerPay, Central Liability System and Forecaster. Under FinnOneTM version 3.5 Nucleus has released upgraded modules of FAS (Finance Against Security), GL (General Ledger), PDCMS (Post-dated Cheque Management System) and Deposit.
Vishnu R. Dusad, CEO & Managing Director, Nucleus Software, said:
'Nucleus Software has developed the FinnOneTM Version 3.5 at a time when the banking and financial sectors are witnessing an extremely tumultuous phase. We believe the new add-onmodules will provide banking and financial institutions worldwide with end-to-end technological and operational excellence to cushion the risks of lending. A thorough credit appraisal and evaluation by Forecaster, a robust back end processor of the Loan Management and Collateral System and a comprehensive Central Liability System is a testimony to Nucleus' product's capability to drive innovation in the lending business.'
FinnOneTM the flagship product of Nucleus Software 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 FinnOneTM 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.
The new add-on modules under FinnOne Version 3.5 were developed after a thorough evaluation of the various system proposals. FinnOne Version 3.5 is a unique platform supporting any phase of the lifecycle of the distressed receivables and enables powerful recovery management. New modules launched under FinnOneTM 3.5:
- FinnOneTM Lead Management System: Designed to provide a system driven process for its users to generate, track and close leads in a systematic, transparent and controlled environment.
- FinnOne TM Customer Service Module: Delivers business solutions by integrating the front and back office to enable execution of a customercentric business strategy.
- FinnOneTM PowerPay: Speeds up the calculation process and helps make timely and accurate payments to business partners that result in retaining the channel partners in a highly competitive business environment.
- FinnOneTM Central Liability System: A tool to monitor and administer corporate banking business and helps in decision making.
- FinnOneTM Forecaster: A data mining tool that involves access and manipulation of business data available with the organization.
- FinnOneTM Collateral Management System: A pluggable component that can be integrated with any system where collateral/assets details are to be captured and activities performed on the captured information
- Credit Origination system, Servicing system, and Central Liability system. CMS offers end-to-end collateral management services relevant to the lending business. New versions released under FinnOneTM 3.5:
- FinnOne FAS: A comprehensive solution that establishes credit lines to Individuals and Corporates against the pledging of financial securities like shares, mutual funds, bonds, etc. FinnOne FAS helps value the collateral security provided by the customer and determine the credit limits that may be granted to a customer.
- FinnOne Deposit: An integral part of the FinnOne suite of products, the Deposit System aims to redefine and automate the entire operational and MIS needs of the financial institutions, which offers deposit schemes to its customers. Providing maximum flexibility in defining a new product in the system so that system handles the complete range of deposit products effectively.
- FinnOne GL: Designed to provide unprecedented flexibility to meet the business needs of a variety of organizations of varying sizes, the FinnOne General Ledger, helps the user in maintaining and monitoring the various financial transactions of the company. It also helps management in analyzing the profitability of various departments/ divisions and monitoring the financial health of the company.
- FinnOne PDCMS: FinnOneTM Post-dated Cheque Management System (PDCMS) facilitates the management of cheque inventories, tracking and presentation of post dated cheques / other Instruments on the due dates. The module also allows for exceptions and re-presentation of bounced instruments. Capable of handling large volumes of data, it captures the loan as well as the cheque details and interfaces with FinnOneTM Lending.