July 18, 2022
| Press Release
Nucleus Software’s FinnOne Neo to transform PVcomBank’s retail lending
- Will help boost Retail Banking Business through up-sales and cross-sales
- Provides a centralised system for loan approvals, reporting and collateral management
- Extensive API stack with enablement of easy third party integrations
Nucleus Software and CMC-TS have entered into an agreement with Vietnam Public Joint-stock Commercial Bank (“PVcomBank”) to digitally transform the bank’s lending origination operations. With Nucleus Software’s lending platform FinnOne Neo, PVcomBank plans to launch innovative products and services in the market with great speed. Through this partnership, PVcomBank is expecting to double its consumer loans within the next 4 to 5 years.
Mr. Tan Tran (CEO, PVcomBank) said, “
PVcomBank has been focussed on providing “Gapless Banking” to it’s customers and in line with this theme, we have decided to partner with the best in the Fintech industry- Nucleus Software. FinnOne Neo is a highly flexible, scalable platform with omni-channel capabilities that will support the diversified needs of our individual and corporate customers. We are confident that with the advanced functionalities and robust technology of FinnOne Neo, we will be able to move at an accelerated pace to become a Lifetime bank".
Mr. Parag Bhise (CEO, Nucleus Software) said, “
We are confident that our platform will enable PVcomBank to move rapidly towards digitisation of lending, cater to the Bank’s goals of retail product proliferation and help streamline its operations. We are strongly committed to Vietnam’s financial service sector’s development in partnering with them to unlock growth and help them stay ahead of the curve. Our association with CMC-TC demonstrates our commitment to provide world class services across Vietnam and South East Asia.”
Mr. Ho Thanh Tung (CEO, CMC) said, “We have been one of
the key vendors to PVcomBank. To add to our expertise, we partner globally with the best solution providers to enable our customers achieve their expectations. Our partnership with Nucleus Software, a globally renowned Fintech, will provide tremendous business value to PVcomBank”.About PVcomBank, Vietnam
Established in 2013 from a merger between PetroVietnam Finance Corp., Western Bank & Morgan Stanley, the lender officially known as Vietnam Public Joint Stock Commercial Bank (PVcomBank) and has the total assets of nearly USD 4.5 billion, charter capital of USD 0.4 billion. The largest shareholder is States Bank of Vietnam at 52% shareholding after Government asked state-owned enterprises - PetroVietnam to diverse its non-core business areas in 2013. At current, the bank has over 4,000 professionals and highly qualified and experienced staff providing services for enterprises in Oil and Gas, power, and infrastructure sectors. In 2020 Annual Report, Bank has achieved US$460M total revenue with PAT at US$3.1M.
For more information, please visit: https://www.pvcombank.com.vn/
About CMC Technology & Solution Company Limited – Vietnam
One of the largest System Integration Companies in Vietnam. CMC-TS is committed to the BFSI sector with aims to be the top digital transformation solution provider. CMC-TS’s alliance with Nucleus Software combines market leading technology platform capabilities, banking domain expertise, extensive implementation experience and rich banking community relationship of both parties to bring tremendous business value to the BFSI industry in Vietnam.About Nucleus Software – India
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. Software powers the operations of more than 200 Financial Institutions in over 50 countries. Its products facilitate more than 26 million transactions each day, managing over US $ 200 billion of loans and enabling more than 200,000 users logging in daily.Nucleus Software’s flagship products:
: The next-generation digital lending solution that is built on an advanced technology platform, designed to shape the future of lending across Retail, Corporate and Islamic sectors for banks and other financial service companies.
: An integrated global transaction banking solution used by banks worldwide to offer efficient and Innovative global payments and receivables, liquidity management and business internet banking services.
: The world's first online & offline digital payment solution designed and created with an aim to democratize money by making banking services available to the unbanked in remote geographies.
For more information, please visit: www.nucleussoftware.com
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