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Press Release

Saudi Arabian Auto Finance Major, Aqsat International chooses Nucleus' FinnOneTM Suite

September 13, 2011 | Press Release
New Delhi, India, September 13, 2011: Nucleus Software Exports Limited (NSE: NUCLEUS, BSE: 531209), a leading global provider of integrated software products for banks and financial institutions, today announced that the Saudi Arabian Auto Finance company, Aqsat International Trading Co. ltd, has chosen its flagship & award-winning product, FinnOne™, to completely automate the business operations.

Aqsat International will be using FinnOne’s Customer Acquisition System (CAS), Loan Management System (LMS), Collections & Delinquency Management, Securitization, Power Pay, Document Management System, and Fleet Finance as part of the FinnOne™ Suite to automate business operations and reduce turn-around time.

“Today owning an auto vehicle has become a necessity rather than a luxury. We aim at supporting people in fulfilling this necessity by providing loans and other financial aid towards owning or renting vehicles. After evaluating FinnOne™ past success across geographies, we selected this flagship & award-winning product to efficiently manage our clients and all monetary operations. Finnone™ will surely help us build a competitive advantage and expand our reach in the Saudi Arabian market. We look forward to a fruitful association with Nucleus Software,” said Abbas Mohammed Al-Nahdi, Executive General Manager, Aqsat International.

Mr. Vishnu R. Dusad, CEO and Managing Director, Nucleus Software Exports Limited, said, “The auto industry offers a great opportunity for Nucleus’ products and is a key focus area for Nucleus’ growth strategy. This partnership with Aqsat International will enable the company to better penetrate the Saudi Arabian market and strengthen its position further. We are sure that implementing a next-generation complete banking suite such as FinnOne™ will give Aqsat the technological edge in offering better products and services to their customers and in turn take them several leaps ahead of their competition.”

Aqsat International is a customer-centered credit company, committed to provide value-adding, quality services to its customers. The company has an immense penetration in the Saudi auto finance sector. The organization provides Shariah-compliant financing solutions complemented by established experts in financing. Aqsat International is planning product implementations in the offices already established in the main BMW and Hyundai showrooms. The company will also expand product implementation capabilities throughout all branches across Saudi Arabia.

About Aqsat International
Aqsat International Trading Company is owned by Mohammed Yousuf Naghi Group (MYNG). From its long existence in Credit Sales Business as a division of Naghi Motors, the separate legal entity as Aqsat International Trading Company was incorporated in 2007 to support the credit sales of all the vehicles lines of Naghi Motors and diversify its portfolio in other line of business in a long run. They specialize in Islamic leasing with a promise of ownership with very competitive product offering in installment sales and for leasing with insurance coverage and credit information services for purchasing brand new and pre-approved cars in Saudi Arabia capitalizing on our captive business and current business portfolio. www.aqsat.com.sa.

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