- Adds myLoan, a new AI powered conversational chatbot for loan self-service.
- Introduces Sales Assist to provide quick digital loan sourcing at retail stores, auto dealerships, lifestyle stores and other points of sale.
- Powered 155 million loan servicing transactions and USD 3.4 billion in loan collections on mobile.
New Delhi, India. July 20, 2020: Nucleus Software, the leading provider of lending and transaction banking solutions to the global financial services industry, announced the addition of a range of powerful new solutions to its market leading FinnOne Neo® digital lending platform. The new channel solutions will help retail lenders offer contactless digital lending across the full loan lifecycle.
FinnOne Neo® myLoan, an AI powered conversational chatbot, is designed to help lenders provide self-service on WhatsApp and other instant messaging platforms. The solution significantly reduces servicing time while lowering costs and delivering personalized experiences. Another new solution, FinnOne Neo® Sales Assist, a web channel for loan sourcing, helps lenders’ agents provide quick, easy and completely digital financing at retail stores, automobile dealerships, lifestyle stores, travel booking offices and other points of sale. The API based solution caters to a wide variety of loan products that can be swiftly sourced at the location of purchase and can be easily integrated with external sources for data input and validation.
In a post COVID-19 world, where social distancing is expected, contactless, 24×7 digital lending is a fundamental requirement. FinnOne Neo’s comprehensive portfolio of digital channels includes specialized mobile applications and web portals for customers and financial institution staff users. The solutions cover the full loan lifecycle, from loan origination and loan servicing to delinquency management and collections. Mobile / web based origination and field verification with geo tagging, makes loan sourcing completely digital, secure and superfast. It provides a wide range of capabilities including paperless sourcing, instant credit checks, data validation, the ability to initiate underwriting and rate approval requests. While using mobile apps, portal or chatbots to fulfil their servicing needs, customers do not need to visit branches or call centres and can avail services with a click or a tap.
With mobile based collections app for the field collectors, lenders can benefit from a variety of digital payment mechanisms, reduce risk and lower fraud, while offering real-time transaction updates, optimized route planning for agents and centralized tracking of collections.
Mr. Sudeep Verma (Global Head – FinnOne Neo®) commented, “The COVID-19 pandemic has accelerated the shift to digital. We are continuing to invest in innovative, sophisticated technologies to help our customers thrive. AI will power the next wave of transformation and the delivery of lending services, close to the customer will be a competitive differentiator. That’s why we have added myLoan and Sales Assist to our comprehensive digital channel solution set. Our mobile solutions have already handled 9.1 million field verifications, 155 million loan servicing transactions and over USD 3.4 billion in loan collections.”
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
