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Press Release

Nucleus Software Lending Mobility Solution mCollect now supports Unified Payments Interface (UPI)

July 24, 2017 | Press Release

  • - To provide more options to loan customers for digitized, simple and convenient loan collections
  • - Comprehensive cashless loan collections on mobile with Unified Payments Interface (UPI) based direct fund transfers
  • - Supports Bharat Interface for Money (BHIM app)


New Delhi, India. July 24 , 2017 - Nucleus Software, the leading provider of lending and transaction banking solutions to the global financial services industry, today announced the extended digitization capability of its  lending mobility solution (FinnOne Neo mCollect)  which can now be used for Unified Payments Interface (UPI) based direct fund transfers.

To push its goal of turning India into a “cashless society”, the government has rolled out multiple initiatives for facilitating seamless digital payments transactions including UPI-based apps and services, most notable of them being the Bharat Interface for Money (BHIM). As per data from the RBI, the number of transactions across UPI increased by 584 per cent (0.3 to 4.5 million) since demonetisation in Nov 2016 and reached 6.9 million amounting to a value of INR 22 billion in April 2017. With fast growing adoption of digital payments, it is important for banks and financial services companies to extend their digitization initiatives to loan collections and offer convenient payment options to their loan customers.

With this capability in FinnOne Neo mCollect, the loan collection agents can initiate a UPI based payment request to the customer on their Virtual Payment Address (VPA). Customers will receive a mobile notification in their UPI app, which could either be the BHIM app or any other UPI based mobile app of their bank. Once the customer accepts the request, the payment is completed instantly. Coupled with Straight Through Processing (STP) capability, the payment gets credited into customer’s loan account and reflected into the Loan Statement immediately. This approach facilitates faster, simpler, cost effective and secure loan collections benefitting both the banks and the end user.

With FinnOne Neo mCollect, banks and financial institutions can minimize the risks associated with float money by automating manual processes exposed to faults and misrepresentation. The mobile loan software allows allocation of cases on mobile and enables paperless processing, increased efficiency and improved customer experience.


Mr. R P Singh, President and Global Head Products, Nucleus Software said “The future of payment transactions is digital and UPI is playing a significant role in this transformation in India. With the Banks and Financial Services Companies in India moving to UPI based payments, it is expected to reach 100 million users in a few years.  Nucleus Software is committed to empower Banks and Financial Services Companies digitize their loan collections over UPI. Today, our lending mobility solution mCollect has processed over $1.8 billion in loan collections globally and we see this going up tremendously with UPI capability”.

About FinnOne Neo Lending Mobility:

Nucleus Software offers a comprehensive range of mobile based applications to help banks and financial service companies leverage the flexibility, scalability, efficiency and customer centricity offered by the mobile channel. FinnOne Neo Lending Mobility enables banks to provide real-time access, faster service and enhanced operational control. The applications: mApply - for loan self -sourcing, mCAS - for reliable customer acquisition, mCollect - for efficient delinquency/debt management operations and mServe - a self-service application for end consumers, mPower – for integrated loan operations, offer a unique combination of robust technology, security and rich functionality.

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.
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For Media related information, please contact:

Sunil Kumar Singh / Kiran Hans Khowal

Finese PR

Phone: +91-9818363518 | +91-8375969143