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Nucleus Software releases the latest version of its Integrated Transaction Banking Solution - FinnAxia 3.0
New Delhi, India 09 March, 2016 — Nucleus Software, the leading provider of lending and transaction banking solutions to the global financial services industry, today announced the release of FinnAxia 3.0, the latest version of its next-generation integrated transaction banking product suite.
With the global transactional-banking market projected to grow to almost $2 trillion by 2024, financial institutions are increasingly looking at leveraging technology to not only counter the ever-rising tide of compliance-related complexities but also improve their customer engagement and service levels. FinnAxia 3.0 will enable banks to eliminate multiple siloed applications and includes a Direct Debit solution based on internationally accepted ISO20022 messaging standards which makes it compliant with the major payments and settlement systems across the globe including the SEPA Direct Debit Mandate (SDD) in Europe and NACH in India.
The integrated transaction banking solution helps bank’s corporate customers reduce their account receivables cycle thereby optimizing Days Sales Outstanding (DSO). FinnAxia 3.0 also comes with sophisticated cash forecasting capability which allows the banks to make better- informed decisions and ensure availability of the right amount of funds at right time and right place thus enhancing its working capital management. It provides a single view of the customer to the bank across all its branches for pending actions and supports partial and full invoice reconciliation with all payment types (Cash, Electronic and Paper). The solution’s modular and open architecture allows seamless interfacing with third party anti-money laundering systems to help banks detect payment related frauds in real-time.
Mr. Ravi Pratap Singh, Head - Global Product Management & Executive Director, Nucleus Software said, “The latest release of FinnAxia builds on our global experience in transaction banking and empowers financial institutions to establish and maintain a market-leading presence through the flexible, speedy and efficient execution of transaction banking processes. It also provides a dual advantage of ease of operation combined with greater system integration for the banks’ corporate customers. With a unique blend of domain and technology expertise, FinnAxia 3.0 has been designed to address the corporates’ ever changing working capital management and transaction processing needs”.
FinnAxia 3.0 comes with a more scalable and flexible online banking solution named Business Internet Banking (BIB) that will help banks meet their customers' evolving needs. The solution has added security enhancements in the areas of password policies, grace periods and transaction passwords. Internal communications has been strengthened with the newly launched chat feature to enable broadcast, multicast and unicast messages. BIB also enables banks to support their corporate customers’ expansion into new geographies with a foreign currency module that makes foreign currency payments to onsite employees easy for the corporates. There is a provision for the creation and management of a helpdesk to ensure a smooth experience for the banks’ customers.
About Nucleus Software
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 Media related information, please contact:
Sunil Kumar Singh / Kiran Hans Khowal
Finese PR
Email: nucleus@finesepr.comPhone: +91-9818363518 | +91-8375969143