Nucleus Software bags order from Dhanlaxmi Bank

Printer-friendly versionPDF version

New Delhi, August 10, 2010: Nucleus Software Exports Limited (NSE: NUCLEUS, BSE: 531209), a leading global provider of integrated software products for banks and financial institutions, today announced a major order win from Dhanlaxmi Bank, one of the fastest growing mid-size private sector banks in India. Nucleus will implement its award winning FinnOne™ suite of products across the Bank’s 271 branches to power its retail lending business.

The new order win will help Nucleus to further strengthen and consolidate its position in the domestic market, while the implementation of FinnOne™ will facilitate Dhanlaxmi Bank to set-up a state-of-the-art platform for its retail lending business.

FinnOne™ will enable Dhanlaxmi Bank to efficiently manage all the stages of loan application process, right from defining products and entering applicant details to verifying, approving and disbursing loan, and from maintaining repayment details to loan closure. The core lending platform will help the Bank to service its retail customers more efficiently and enhance productivity.

Mr. Muralidharan R, President, Information Technology & Operations, Dhanlaxmi Bank said: “Retail lending will be the focus this year for the Bank and considering the high volume of loan transactions in retail assets business, the Bank required a robust end to end solution that facilitates quick turnaround time. Having provided industry proven lending solutions for the banking sector for over 24 years, Nucleus Software’s FinnOne™ was selected for its comprehensive solution. We are confident that our partnership with Nucleus will help us add value to our retail customers.”

Mr. Niraj Vedwa, COO, Nucleus Software Exports Limited said: “India has always been our key focus for Nucleus’ growth strategy. The order win further re-affirms our commitment to the Indian market and will help in strengthening our market position here. Choosing a next-generation solution such as FinnOne™ will give Dhanlaxmi Bank the technological edge in offering world-class products and services to their customers. We are confident that this partnership will enhance the Bank’s productivity and build up value-added solutions for their customers.”
FinnOne™ suite of products - Customer Acquisition System (CAS), Loan Management System (LMS), Collections, Power Pay, Collateral Management System, Dealer Funding and Finance Against Securities - will be implemented to manage the Bank’s loan servicing system for its retail assets such as home loans, loans against property, credit cards and other assets. The solution will provide the Bank with a competitive edge and a strong operational control.
About Dhanlaxmi Bank:
‘The Dhanalakshmi Bank Limited’ was incorporated in 1927, at Thrissur as a limited company and became a scheduled commercial bank in the year 1977. The Bank has a pan-India presence through a network of 271 branches, 380 ATMs covering 136 centers across 14 states. As at March 31, 2010, the Bank had 4,080 employees serving over 1.4 million customers.
As of March 31, 2010, the Bank had total deposits of Rs. 7,098 crore and advances of Rs. 5,006 crore.
For additional information please log on to www.dhanbank.com

About Nucleus Software Exports Limited:
Nucleus Software is a leading software powerhouse providing innovative and pioneering software solutions for Banks and Financial organizations globally. Nucleus Software offers a host of competitive IT solutions and consultancy services designed to support the whole spectrum of business offerings across retail banking, corporate banking, cards and cash management. With over 150 customers across the globe, the company is consistently innovating with cutting edge and industry driven products in the domain. Nucleus Software is listed on the National Stock Exchange and Bombay Stock Exchange in India.

For more information, visit www.nucleussoftware.com
FinnOne™, the flagship product of Nucleus Software, is a powerhouse of seamlessly integrated applications, designed to provide operational support, risk management and decision-making support to banks and financial services companies. The FinnOne™ suite provides solutions for the asset as well as liability sides of business in addition to account management, core financial accounting, risk management, document management, and customer services. FinnOne™ also supports multi-branch, multi-currency, multi-product, and bi-lingual implementations. FinnOne™ focuses on both, retail and corporate loans, thereby emerging as a comprehensive solution to back any line of the lending business. It has been ranked as the No.1 selling Lending Software Product across the globe by IBS Publishing, UK, for the second consecutive year in 2009 calendar year.