Nucleus Software Exports Limited on Wednesday announced an order win from Dhanlaxmi Bank, one of the fastest growing mid-size private sector banks in India. Nucleus will implement its FinnOne suite of products across the Bank’s 271 branches to power its retail lending business.
The new order win will help the company to strengthen and consolidate its position in the domestic market.
FinnOne will enable Dhanlaxmi Bank to manage stages of loan application process, from defining products and entering applicant details to verifying, approving and disbursing loan, and from maintaining repayment details to loan closure.
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. “
Niraj Vedwa, COO, Nucleus Software Exports Limited said: “India has always been our key focus for Nucleus’ growth strategy. 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.