- To enable the Bank to reduce non-performing loans and boost loan collections.
- To help the Bank drive digital transformation in financial services in Tanzania.
Tanzania. New Delhi, India. Feb 20, 2019. Nucleus Software, the leading provider of lending and transaction banking solutions to the global financial services industry, announced that CRDB Bank, a leading financial services provider in Tanzania with current presence in Tanzania and Burundi has gone live with Nucleus FinnOne Collections and Lending Analytics.
Established in 1996, CRDB Bank is one of the largest banks in Tanzania supported by a robust portfolio and uniquely tailored products. The Bank offers a comprehensive range of corporate, retail, business, treasury, premier, and wholesale microfinance services through a network of 260 branches and 569 ATMs.
In 2017 The Bank engaged Nucleus FinnOne Collections and Nucleus Lending Analytics to improve loan collections efficiency by streamlining, automating and digitizing their operations. This solution was implemented and now manages the Bank’s entire collections lifecycle from soft calling of delinquent customers to tackling hard bucket collections, while also handling the follow up of legal cases until final closure. By providing a holistic, real-time picture of the entire team’s collections efforts and prompting tele callers and field collectors to respond appropriately the solution helped CRDB Bank to improve collection rates while reducing costs. In addition, the Bank is also leveraging on Lending analytics model which is part of the implemented solution on a wide range of business areas, including predicting potential delinquencies before they happen and assess the probability of promises to pay.
Mr. R P Singh (CEO, Nucleus Software) stated, “CRDB Bank is a great example of a forward thinking organization and is constantly aimed to deliver the best customer experiences. We are delighted to partner with CRDB to help them take their lending services to a new normal with our leading FinnOne platform. For over a decade we have been supporting many leading banks and financial institutions in Africa. CRDB Bank is our first customer in Tanzania and shows our continued commitment to Africa. Our solutions are completely aligned with CRDB Bank’s mission of providing competitive and innovative financial solutions. With our collections and analytics solutions, CRDB Bank will be able to improve collections while also delivering an enhanced customer experience.”
Mr. James Mabula (Director of Credit, CRDB Bank) said, “At CRDB Bank, we needed to streamline and automate our collections processes to reduce delinquencies. In addition to choosing a proven solution from a trusted partner we needed to prepare for the future, and that’s why we chose Nucleus Software and their advanced solutions. Using Nucleus technology, we are able to manage our collections better and the lending analytics platform has helped us benefit from data driven insights. We look forward to our continued collaboration with Nucleus Software.”
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 delivers disruptive Fintech Solutions to 200+ Banks and Financial Institutions across 50 countries supporting Retail, Corporate & SME Finance, Islamic Finance, Automotive Finance, Captive Automotive Finance, Cash Management, Mobile & Internet Banking, Transaction Banking and more. We facilitate over 26 million transactions each day through our globally integrated transaction banking platform. Our lending platform manages US $ 500 billion of loans in India alone, and over US $700 billion of loans globally other than India, while enabling 500,000+ users to log in daily.
Our Flagship Products FinnOne Neo® and FinnAxia® are backed by 3 decades of BFSI domain expertise and an inbuilt AI powered platform to realize the digital transformation goals of FIs worldwide.
- FinnOne Neo®: The next-generation digital lending platform, designed to revolutionize the lending process. FinnOne Neo® is built on an advanced technology platform, empowering financial institutions to streamline their lending operations, enhance customer experiences, and drive business growth.
- FinnAxia®: An integrated global transaction banking suite, trusted by banks worldwide to optimize their transaction banking processes. With FinnAxia®, financial institutions can efficiently manage their cash management, trade finance, liquidity management, and other transaction banking activities on a single platform, thereby improving operational efficiency, visibility, and enhancing client relationships.
- PaySe®: The world’s first online and offline digital payment solution, created with the vision to democratize money. This innovative payment solution offers users a seamless and convenient way to conduct digital transactions, both online and offline, facilitating financial inclusion and empowering individuals and businesses.
- Nucleus Software Services: Our comprehensive suite of services is tailored to assist banks and financial institutions in their digital transformation journey and maintain an optimal technology infrastructure. Through Nucleus Software Services, we offer a holistic approach to digital transformation, enabling organizations to deliver seamless customer experiences, achieve operational and cost efficiencies, and gain actionable insights to drive strategic decision-making.
These offerings collectively underline Nucleus Software’s commitment to driving innovation and empowering financial institutions to thrive in an increasingly digital world.
For Media related information, please contact:
Deepika Gulabani
Corporate Communications
Email: deepika.gulabani@nucleussoftware.com
Phone: +91-9310334963
Lending
Transaction Banking
Financial Inclusion
