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March 14, 2007
| Press Release
Nucleus Software (NSE: NUCLEUS), a leading global provider of next generation software products for banking and financial sector today announced its deal with Mashreq Bank, UAE's largest private bank, for its flagship product FinnOneTM Finance Against Securities (FAS).
The solution has been implemented across the bank's 46 branches.
This deal marks yet another win for Nucleus in the Middle East region. FinnOneTM FAS implementation will help enhance the bank's turnaround time in approving loans against securities, determining and managing the credit limit for a customer.
FinnOne™ Finance Against Securities (FAS) is a comprehensive solution that establishes credit lines to individuals and corporates against the pledging of financial securities like shares, debentures, units, etc. Objective of the product is to value the collateral security provided by the customer in order to determine credit worthiness. As market value of the security offered is very volatile in nature, the system conducts valuation on regular intervals.
The bank implemented FinnOne™ solution across its 46 branches in the UAE region, in its endeavour to refurbish its lending operations. This implementation is seen as a strategic move by the bank to increase its market share significantly in the lending market.
Commenting on the announcement, Vishnu R. Dusad, CEO & MD, Nucleus Software, said, "We are happy to be associated with Mashreq Bank and this partnership marks yet another client win in the Middle East region. The bank has chosen our solution because of our track record and our domain understanding of the industry. We are confident that our solution will help them achieve their overall business goals."
Alexander Sinclair, CEO, MindScape, the IT arm of Mashreq Bank, commented "Mashreq Bank understands and values the importance of regular updates in its IT solutions, the policy was always to choose the best and the most secure software products, for this, we have chosen the FinnOne™ solution from Nucleus Software."
Nucleus' flagship product FinnOneTM is the 'No. 1 Best Selling Retail Lending Software' globally. (IBS Publishing* for the year 2006). With over 141 clients across the globe Nucleus is a fast - growing player with a leadership position in regions spanning APAC, Europe, Middle East and Africa. Nucleus, today commands leadership position in the domestic retail banking space with a client base comprising most leading banks in India. Experiencing exponential growth in the retail banking scenario, Nucleus is focused to deliver strong technology offerings, enabling financial institutions to meet the demands of the dynamic business world.
Phone: +91-9818363518 | +91-8375969143
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Nucleus Software Implements Another FinnOneTM Contract in the Middle East region
The solution has been implemented across the bank's 46 branches.
This deal marks yet another win for Nucleus in the Middle East region. FinnOneTM FAS implementation will help enhance the bank's turnaround time in approving loans against securities, determining and managing the credit limit for a customer.
FinnOne™ Finance Against Securities (FAS) is a comprehensive solution that establishes credit lines to individuals and corporates against the pledging of financial securities like shares, debentures, units, etc. Objective of the product is to value the collateral security provided by the customer in order to determine credit worthiness. As market value of the security offered is very volatile in nature, the system conducts valuation on regular intervals.
The bank implemented FinnOne™ solution across its 46 branches in the UAE region, in its endeavour to refurbish its lending operations. This implementation is seen as a strategic move by the bank to increase its market share significantly in the lending market.
Commenting on the announcement, Vishnu R. Dusad, CEO & MD, Nucleus Software, said, "We are happy to be associated with Mashreq Bank and this partnership marks yet another client win in the Middle East region. The bank has chosen our solution because of our track record and our domain understanding of the industry. We are confident that our solution will help them achieve their overall business goals."
Alexander Sinclair, CEO, MindScape, the IT arm of Mashreq Bank, commented "Mashreq Bank understands and values the importance of regular updates in its IT solutions, the policy was always to choose the best and the most secure software products, for this, we have chosen the FinnOne™ solution from Nucleus Software."
Nucleus' flagship product FinnOneTM is the 'No. 1 Best Selling Retail Lending Software' globally. (IBS Publishing* for the year 2006). With over 141 clients across the globe Nucleus is a fast - growing player with a leadership position in regions spanning APAC, Europe, Middle East and Africa. Nucleus, today commands leadership position in the domestic retail banking space with a client base comprising most leading banks in India. Experiencing exponential growth in the retail banking scenario, Nucleus is focused to deliver strong technology offerings, enabling financial institutions to meet the demands of the dynamic business world.
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:
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 : https://www.nucleussoftware.com
For Media related information, please contact:
Sunil Kumar Singh / Kiran Hans Khowal
Finese PR
Email: nucleus@finesepr.comPhone: +91-9818363518 | +91-8375969143
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