Nucleus Software wins its 14th order from Africa
Nucleus' FinnOne™chosen by Zambia National Commercial Bank
Tweet-- Nucleus Software Exports Limited (NSE: NUCLEUS, BSE: 531209), a leading global provider of integrated software products for banks and financial institutions, today announced that FinnOne™ has been chosen by Zambia National Commercial Bank (Zanaco), a commercial bank in Zambia, Africa. Four modules of FinnOne™ - Corporate Customer Acquisition System (CAS), Retail Customer Acquisition System (CAS), Loan Management System (LMS), and Collections, will be implemented at the bank’s data centre for access to all branches of the bank.
FinnOne™ will technologically power the Operations, Credit, and Collection division across all branches for the lending and leasing operations of the bank. FinnOne™ will help Zanaco automate application processes and create a differentiated customer experience through unique offerings like online application processing and credit scoring.
According to Pieter Van Barneveld, Executive Director of Risk, Zanaco, “We were looking for a credible product that has gained acceptance across the globe and in the African market and which will help us make our retail and corporate lending / leasing process efficient and fast. FinnOneTM’s proven track record with several leading banks in Africa and worldwide was key determinant for us in selecting FinnOneTM.”
Selected after a rigorous selection process of the various system proposals and vendors, FinnOne™ was chosen for its product features such as the ability to lower turnaround time of operations, flexibility, scalability and capacity to integrate with the banks’ numerous systems. FinnOneTM will also help Zanaco in complete automation of credit origination and approval process and provide end to end solution for retail and corporate lending and leasing operations. This would also result in a faster turnaround time and higher customer satisfaction.
Commenting on the announcement, Vishnu R. Dusad, CEO and Managing Director, Nucleus Software Exports Limited, said, “We are delighted to partner with Zanaco. We are confident that Nucleus Software will provide Zanaco a sound and technologically advanced platform to improve customer satisfaction. With an already established and fast growing client base for Nucleus in Africa, the region is strategic to our growth plans. Our unique value proposition based on minimizing risk and maximizing the opportunity for our clients is emerging as a key differentiator globally.”
Notes to Editor
About Zambia National Commercial Bank (Zanaco)
Zanaco was established by the Government of the Republic of Zambia in 1969 to foster national development and has over the years been and continues to be instrumental to the country's progress through various achievements namely:
- Financing of development projects in all sectors of the Zambia economy
- Provision of affordable banking services to all
- Infrastructure development in the un-banked rural and urban areas
- Training of Zambian nationals through skills development and employment creation
- Being actively involved in the development of sports and culture and other aspects of human development
Zanaco partnered with Rabo bank, a highly credible bank with a triple AAA rating, (the highest rating a bank can ever have) of the Netherlands in April, 2007. Under this partnership, Zanaco recognizes the new opportunities and the vibrancy of the Zambian economy and has thus designed broad based affordable banking services to its retail customers and structured innovative financial solutions for large corporations, agri-business and public sectors.
About Nucleus Software Exports Limited
Nucleus Software (NSE: NUCLEUS, BSE: 531209) 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 spanning Retail and Corporate Banking, Cash Management, Credit Cards, Relationship Banking, Financial CRM, Credit Risk & Appraisal, EAI, Internet Banking, FX, Basel II, Data warehousing and Analytics. With 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.
Safe Harbor
Certain statements in this release concerning our future growth prospects are forward-looking statements, which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding the success of our investments, risks and uncertainties regarding fluctuations in earnings, our ability to manage growth, our ability to successfully implement our strategy, our research and development efforts, changes in the value of the Rupee and other currency changes, intense competition in IT and consulting services including those factors which may affect our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, industry segment concentration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks or system failures, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, withdrawal of governmental fiscal incentives, political instability and regional conflicts, legal restrictions on raising capital or acquiring companies outside India, and unauthorized use of our intellectual property and general economic conditions affecting our industry. Nucleus may, from time to time, make additional written and oral forward-looking statements, including statements contained in the company’s filings with the Securities and Exchange Board of India, Stock Exchange and our reports to shareholders. The company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the company.