Nucleus Software implements FinnOne

Nucleus Software Exports Ltd on January 16, 2008 has announced that its FinnOne™ Loan Origination System has gone live at Bank of the Philippine Islands. The solution, which went live in a remarkably short turnaround tine, will significantly improve the banks efficiency by automating the front-end consumer lending process and enhance its customer relationships across the country.

Bank of the Philippine Islands (BPI) is the third largest commercial bank in the Philippines in terms of assets. Selected after a thorough evaluation of the various system proposals, Nucleus's FinnOne™ will offer a specialized loan origination system with flexible features that will allow changes in accordance with policy updates and user requirements. The FinnOne™ Loan Origination System, named as BPI's Automated Loans Front-End System (ALFES), will allow the bank to integrate the different touch- points in their supply chain for acquisition prospecting, pre-disbursal processing and loan booking. The system will take the acquisition from the first contact, to application form acceptance, its workflow through various stages, queue management, deviation management, user management and access controls, right up to the reject / approval decision for the disbursement and loan booking.

ALFES will help BPI in the effective tracking of consumer loans applications, timely disbursements and swift decision-making, thus contributing to better-cost management and aiding in the bank’s overall success.

"We are delighted to see FinnOne™ successfully powering the aggressive retail banking focus at the Bank of the Philippine Islands. The region continues to be a key focus area for Nucleus and we are certain that our proficiency in technology and the wide acceptance of our solutions across markets will help BPI reaffirm its position in the region and build formidable reputation among its customers," said Vishnu R Dusad, CEO & Managing Director, of the Company.

BPI is at so using FinnOne™ Collections and Credit Card application processing system from the Company. With over 25 product installations in more than 10 banks, the Company has strengthened its leadership position in Philippines banking industry. FinnOne™ is a global player in the banking solutions space and has successful implementations in Asia-Pacific, Middle East, Africa, Europe & US.

Nucleus Software Exports opens center in Chennai

Nucleus Software Exports Ltd on November 27, 2007 announced the set up of a new development center in Chennai, India. The centre of excellence, located in Ambattur Industrial Estate, will focus on development and implementation for the client base in South Asia. With a capacity of over 200 seats, the centre is state of an art facility with world-class infrastructure to support growing customer needs. The Company is looking at widening its global reach and strengthening their position in the region with this move.

Commenting on the occasion, Mr. Vishnu R Dusad, CEO & Managing Director of the Company said, "Our selection of Chennai as a location is to re-iterate our commitment for the South India and South Asia markets. With establishment of a information technology infrastructure, state-of-the-art facilities and its high-quality engineering universities, Chennai was the ideal choice."

"The South Asian region has always been a strategic and promising market for Nucleus. As the demand in the region intensifies, we would be well positioned to provide efficient delivery of the high-quality products and services to our customers, thereby reaffirming our leadership position," added Mr. Dusad.

Nucleus Software Exports wins contract

Nucleus Software Exports Ltd has announced that it has won a contract from Bank M (Tanzania) Ltd for implementing its Cash@will™ solution which will enable the bank to efficiently offer its corporate customers modernized cash management services (Collections and Receivables management), branded Money, manager.

Cash@Will™ is a robust offering from the Company providing web-enabled cash management solutions to banks that can be offered to its corporate Customers. A comprehensive powerhouse of seamlessly integrated software modules built with the objective of providing operational services support to the customer's asset and liability business lines. Using Cash@will™ as the processor backbone, Bank M will, through Money, manager offer its customers world class Receivables Management (Collections), Payments Management Liquidity Management and Invoice Management (Receivable and Payable Management) solutions. Its unique dynamic pricing engine and other features ensures profitable revenue stream for the bank by servicing the needs of its corporate customers.

Vishnu R. Dusad, CEO & Managing Director of the Company said that his Company is delighted to work with Bank M in bringing about real revolution in the banking sector in the country. "We are privileged to partner with Bank M and we are certain that our product offerings will help the bank service its customers effectively and gain the edge in this growing market place. This association will also help us capitalize on the scurrying growth in the banking sector in Tanzania," he said.

Bank M has made significant investment in technology, which it believes is the backbone of the financial services industry. The bank has so far invested in excess of TSZ 1.5 billion in the acquisition of the latest in banking software and hardware making it among the best banks using the latest technology in the Eastern Africa.

Nucleus Software - Best under a billion!

Nucleus Software Exports Ltd, on October 22, 2007 has announced that it has been listed among the 200 Best Under A Billion Companies in Asia by Forbes Asia magazine. Forbes Asia's annual list draws from over 22,500 publicly listed outfits in Asia and the Pacific with less than $1 Billion in sales. These firms are vetted for consistent growth of both sales and profit for over three years. The Company is one of the 17 Indian companies to have made it to the list, and amongst the 5 from the Indian IT Sector.

The latest Forbes Asia's 200 Best under a Billion list includes organizations from 14 countries across Asia and the Pacific region. Besides India, the list covers China, Australia, Japan, Singapore, South Korea, Taiwan and New Zealand.

The Company is a leading CMM Level 5 organization providing innovative and pioneering software products for Banks and Financial institutions globally. With over 150 customers across the globe and a leadership position in lending product market (Its Flagship product FinnOne™ is 'World's No 1 Highest Selling Lending Software' IBS Publishing, London) The Company is consistently providing cutting edge and industry driven products for the banking domain.

"This is a major milestone for us. Today, we stand shoulder to shoulder with the pillars of excellence from Asia, and that in itself is the validation of the success. This recognition has strengthened our vision of setting new standards and reaching new horizons. I am certain that our commitment to excellence and devotion to our customers will help us in achieving the goal" said Vishnu R Dusad, CEO and Managing Director of the Company.

Nucleus Software Exports

Nucleus Software Exports Ltd has informed that the Board of Directors of the Company at its meeting held on October 10, 2007 has decided to exercise 'Put Option' (subject to regulatory approval) on the 10,040,000 equity shares (25.1% of shareholding) held by the Company and its nominees, in GMAC Financial Services India Ltd. The option shall be exercised in terms of the shareholder agreement with General Motors Acceptance Corporation (GMAC USA).

The abovementioned shareholding was acquired in September 2004.

In this regard the Company has issued the following Press Release:

Nucleus Software Exports Ltd on October 10, 2007 has announced the commencement of the Benelux implementation of FinnOne™ retail suite for GMAC International Operations post the successful implementation in Italy.

Also, having fully accomplished the strategic benefits of the investment in equity capital of GMAC Financial Services India Ltd (GMAC India), the Company has decided to exercise 'Put option' (subject to regulatory approval) on the equity shares in GMAC India, in terms of the shareholder agreement with GMAC Financial Services. This coincides with GMAC Financial Services stepping up their equity investment in GMAC India.

In 2004, the Company, one of GMAC's key international IT partners had acquired 25.1% of GMAC's Indian operation.

Commenting on this development, Mr. Vishnu R Dusad CEO & Managing Director, of the Company said, "Our association with GMAC continues to be a truly enriching experience. As partners we have gained deep insights and understanding of processes within the markets in which our clients operate. With successful implementation of FinnOne™ suite at Italy, we are now geared up for the next phase at Benelux."