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Press Release

Religare Selects Nucleus Software's FinnOneTM To Drive Its Lending Service

March 26, 2009 | Press Release
New Delhi, March 26, 2009: Religare Finvest Limited (RFL), a 100% subsidiary of Religare Enterprises Limited has chosen Nucleus' FinnOne™ suite to power its credit valuation, loan disbursal and collection processes across India. RFL selected FinnOneTM for credit evaluation, efficiency in loan disbursal and collection across all branches.

RFL is aggressive in the Financial Services arena across India offering three products – Mortgage, SME and Commercial Assets. All three will be catered by FinnOneTM through Auto, Personal and Home loan products. From among a great competitive pitch, RFL selected FinnOneTM for its state-ofthe-art modules, vast implementation experience, functionalities and domain expertise. An internationally proven product solution, FinnOneTM allows for effective introduction of quick-tomarket products and schemes best addressing this challenging environment. It will provide RFL with a comprehensive, powerful, and flexible system to support their loan origination process and help in delinquency management.

According to Mr. Kavi Arora, President, Consumer Finance, Religare Finvest Limited, “Religare Finvest is aggressively strengthening its position in the consumer finance business. We chose FinnOneTM for the comprehensive functionalities provided by the solution, scalability and its successful track record. We realize that such projects require constant support and involvement from the organization itself, and believe that Nucleus Software will be able to match our expectations and partner in our growth.”

Mr. Vishnu R. Dusad, CEO and Managing Director, Nucleus Software Exports Limited said, “Nucleus Software is one of the largest IP creators in the country, dedicated to improving customer service delivery standards continuously. Religare Finvest Limited’s selection of FinnOneTM is yet another reinforcement of our leadership in the retail banking space across the world. We are pleased to partner with Religare and keen to make significant contribution in their growth of the consumer finance business.

 About Religare
Religare Enterprises Limited (REL) is one of the leading integrated financial services groups of India. REL's businesses are broadly clubbed across three key verticals, the Retail, Institutional and Wealth spectrums, catering to a diverse and wide base of clients.

The vision is to build Religare as a globally trusted brand in the financial services domain and present it as the 'Investment Gateway of India'. All employees of the group guided by an experienced and professional management team are committed to providing financial care, backed by the core values of diligence and transparency. REL offers a multitude of investment options and a diverse bouquet of financial services with its pan India reach in more than 1800 locations across more than 490 cities and towns. REL operates globally following its acquisition of London's oldest brokerage & investment firm, Hichens, Harrison & Co. plc.

With a view to expand, diversify and introduce offerings benchmarked against global best practices, Religare operates its Life Insurance business in partnership with the global major – Aegon. For its wealth management business Religare has partnered with Australia based financial services majorMacquarie. Religare has also partnered with Vistaar Entertainment to launch India's first SEBI approved Film Fund offering a unique alternative asset class of investments.

Religare Finvest Limited (RFL), a 100% subsidiary of Religare Enterprises Limited, is registered with the Reserve Bank of India (RBI) as a Non-Banking Finance Company (NBFC) and is presently engaged in providing Consumer Finance, IPO Financing and Personal Financial Services. RFL, is aggressively making a name in the Financial Services arena in India. In a fast paced, constantly changing dynamic business environment, RFL has developed a change resilient vertically integrated value chain for delivering the most competitive products and services. 

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