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Press Release

Philippine Business Bank selects Nucleus Software to automate its Loan Origination Process

November 15, 2010 | Press Release
New Delhi, November 15 2010: Nucleus Software Exports Limited (NSE: NUCLEUS, BSE: 531209) today announced that Philippine Business Bank, one of the largest savings bank in Philippines, has chosen the Customer Acquisition System (CAS) Retail module of its award winning FinnOne™ suite. Nucleus Software will empower the bank’s consumer lending division, including consumer loans like salary, auto and mortgages, across its 55 branches.

Philippine Business Bank offers loans and deposit services to its customers in Philippines. With its vast functionalities and domain expertise, FinnOne™ CAS retail will automate the bank’s loan origination process, leading to higher productivity, efficiency and flexibility to meet the ever changing market requirements. After the implementation, the bank will be able to undertake online credit evaluation and tracking of application forms.

Commenting on the partnership, Mr. Danilo A. Alcoseba, President and CEO, Philippine Business Bank, said, “By leveraging the CAS retail module from Nucleus’ state of the art, FinnOne™ suite, we hope to streamline our entire loan origination process. Our aim is to stay ahead of the curve in the country’s consumer lending space. By assisting our systems with flexibility in launching new products and credit evaluation, it will allow us to go more aggressive in the consumer segment and penetrate the consumer lending market more effectively.”

Mr. Niraj Vedwa, COO, Nucleus Software Exports Limited, said, “The Philippines market has always offered great opportunities for Nucleus’ products and has been a key focus area in our growth strategy. This partnership with Philippine Business Bank further strengthens our commitment to offer cutting edge technology products for the banking and financial institutions in Philippines.”

About Philippines Business Bank:

Philippines Business Bank, one of the biggest savings banks in Philippines today; started operations on February 12, 1997 as TOTAL SAVINGS BANK and obtained S.E.C. approval of its change in corporate name before the year was over. The Bank’s current name sets out clearly its thrust and future plans. 

To keep itself close to the small and medium scale businesses which includes both small and medium enterprises (SMEs) and large companies which it seeks to serve, Philippine Business Bank operates from its office in Caloocan City, not in the plush of Makati or Ortigas business centers as favored by other banks.

Although considered as a newcomer in the banking community, PBB established 10 branches in its first year. By the end of its second year, it had 15 branches in Metro Manila and neighboring business centers. In the next years, PBB aims to branch out into the country's other business hubs. As of end 2009, Philippine Business Bank has a total of 55 Branches nationwide.

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 $ 200 billion of loans and enabling more than 200,000 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, designed to shape the future of lending across Retail, Corporate and Islamic sectors for banks and other financial service companies. The 10 time winner of ‘World’s Best Selling Lending Solution’, helps digitize the complete loan lifecycle.
  • FinnAxiaTM : 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.
  • PaySeTM : 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 : http://www.nucleussoftware.com

For Media related information, please contact:

Sunil Kumar Singh / Kiran Hans Khowal

Finese PR

Email: nucleus@finesepr.com
Phone: +91-9818363518 | +91-8375969143