New Delhi, September 19, 2005: Nucleus Software (NSE: NUCLEUS), a leading global provider of next generation software products for banking and financial sector, today announced that it has signed the contract with Arab Bank, Jordan, to implement Nucleusâ Loan Originating System (LOS), Collections and Lending Solution for Retail and Corporate Customers. The bank has chosen Nucleus Softwareâs flagship product for a global implementation. Based on a web-based module, LOS will act as a front end to lending systems of Arab bank.
This solution completely automates and manages the complete application processing flow of any retail finance instrument. It will serve retail and corporate customers.
FinnOneâ¢ Collection provides framework to track and recover money from delinquent customer, with facilities like case allocation, case escalation, contact recording and litigation tracking.
FinnOneâ¢ Lending assists Banking and Finance companies in introducing new product offerings and tailor made schemes, reducing time-to-market and automating processes within the retail loan space. Commenting on the selection, Mr. Omar Agha, Deputy Head of IT Global for Arab Bank said, "Automating the loan application process across the bank will improve our
time-to market and yield several operational efficiencies as well. The selection of FinnOne as the enterprise-wide lending solution came as a result of an extensive market survey and a through evaluation process. Nucleus expertise and specialization in serving financial institutions was a key factor in our decision"
Commenting on the announcement, Vishnu R. Dusad, Managing Director, Nucleus Software Exports Limited said, "With this order, Nucleus has further consolidated its position in the Middle East banking space. We are proud to be associated with leading banking and financial institutions. These relationships stand testimony to our vision of being a leading player in the
global banking products arena.