February 28, 2014
| Press Release
New Delhi, 28th February 2014
Nucleus Software Launches FinnAxia, a Transaction Banking Product Suite for Tomorrow's Customers
: Nucleus Software Exports Limited, (NSE: NUCLEUS, BSE: 531209), a leading provider of software products and solutions for the banks and financial services industry worldwide, today announced the launch of FinnAxia
– a new, dynamic and comprehensive product suite designed to power the transaction banking space.
Developed on the foundations of the company’s deep banking domain knowledge, its understanding of the market dynamics and based on continuous customer collaboration, Nucleus Software’s FinnAxia is a robust and reliable product suite to fulfill the dynamic needs of global transaction banking market. Banks and large corporates increasingly require granular information in real-time across the financial value chain and a 360 degree view of all transactions to predict accurate cash flow needs and optimize the entire financial value chain to unlock trapped working capital.
Speaking on this special occasion, Mr. Vishnu R. Dusad, Founder, CEO and Managing Director
, Nucleus Software, said “Providing Customer centric products amidst dynamic market conditions has become essential for banks and financial institutions seeking growth. This new product suite provides our customers an integrated solution to effectively manage key aspects of transaction banking with a perfect combination of rich value drivers including versatility, agility and high operational efficiency
. FinnAxia continues our endeavor to provide consistent business value to our customers drawing upon 27 years of rich domain expertise. Additionally, in today’s connected world, FinnAxia’s mobility solutions will ensure our customers’ competitive edge“.
As per industry estimates, transaction banking revenues in India account for close to 30 percent of total banking revenues. Globally, the Transaction Banking market is expected to grow at a compounded annual growth rate of close to 11 percent from 2011 to 2021.*Mr. V Muralikrishna, Global Head – Sales & Marketing, Nucleus Software
, added “FinnAxia’s robust design using multi layered Service Oriented Architecture will help our customers achieve operational efficiencies and offer greater business values to their corporate customers across countries on a secure single platform. This functionally rich, market ready product suite has been tested with few customers globally and has successfully delivered business value. Our understanding of customers’ business and successful track record of product implementations in over 50 countries makes us a trusted and reliable partner for leading banks.”THE KEY FACETS OF FINNAXIA
which makes money flow anytime anywhere. Managing account payables amidst regulations & tight liquidity conditions, scores high on every treasurers agenda. The global payments product module supports a comprehensive set of features geared to handle and manage the corporate customer’s payments needs, thereby enhancing the quality of customer service. Bulk payments, Payroll, cheque printing, supplier vendor payments, standing orders and managing correspondent bank relationships for multi currency payments in multi country and multi time-zone environment etc. all add to the feature repository of Global Payments.Global Receivables
which synergizes cash flows is also high on priority since managing outstanding account receivables and ensuring timely collections is critical not only from the perspective of balance sheet management but also for ensuring shareholder confidence. It enables banks in defining flexible receivables products and services related to account receivable management, cash flow forecasting, processing utility bill collections through direct debits and e-receipts thereby ensuring optimum fund consolidation and ensuring straight through reconciliation through dynamic reconciliation tools and techniques.
Identifying the urgent need to unlock trapped working capital, FinnAxia’s next module of Liquidity Management
not only empowers banks to manage account payables, receivables and fund forecasting but it also can revolutionize the entire financial value chain. The product module helps banks in defining cash concentration structures based on corporates operating model thereby ensuring optimum fund consolidation. It gives the added flexibility for just the necessary fund movement thereby retaining optimum account balances and maximizing interest income on consolidated balances and managing inter-company liabilities.
FinnAxia Business Internet Banking
is the internet front end for bank’s customers to view and manage their total financial position, anywhere and anytime. It ensures Bank’s corporate customers have total transparency, freedom and greater control, allowing them to manage their corporate finances as easily and conveniently as private customers. With a single liquidity view across multiple currencies and jurisdictions, the customers have the freedom to manage their cash inflows and outflows 24/7.e-Financial Supply Chain Management
which invigorates business value chains. It enables the financial flows of the business value chain and runs in parallel to the physical supply chain of a company. FSCM facilitates linking of the anchor customer with its suppliers and dealers, thereby optimizing the use of working capital through its unique pre and post shipment financing offerings. Purchase order financing, invoice discounting, invoice financing and factoring all form an integral part of what e-FSCM has to offer.FinnAxia Mobility Solutions
Functionally rich and scalable, FinnAxia’s mobility suite is underpinned by a security layer, providing users with a reliable and enterprise wide security access control. The solution’s transaction processing capabilities integrates payments, cash management, account services and liquidity management to transform customer’s device into fingertip banking thereby enabling additive and transformational banking.