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Nucleus Software - FPT Information System Consortium to assist in Retail Transformation of Vietcombank



Posted On : 2021-12-22 17:59:14( TIMEZONE : IST )

Nucleus Software Exports Ltd - FPT Information System (FIS) Consortium, the leading provider of lending and transaction banking products to the global financial services industry, has been awarded the contract for its retail loan origination system by Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank - VCB). FinnOne Neo, the award-winning retail lending software, will help VCB to provide end-to-end digitization and launch innovative loan products, optimize customer on-boarding process, standardize credit appraisal processes and provide flexible loan reports.

Vietcombank - VCB is one of the biggest commercial banks in Vietnam and has 600+ branches across Vietnam and around the globe, employing more than 20,000 people.

"VCB is initiating Retail Transformation Operation Model (RTOM) to focus on not just digitization but complete reorganization and systemization of bank's internal processes. We were looking at a robust system to manage our current and future retail loan offerings and chose FinnOne Neo because of its capabilities across all aspects of the lending life-cycle. We plan to implement it across our head office and all our retail branches ASAP", says Ms. Nguyen Thi Kim Oanh, Deputy General Director - Head of Retail Banking Group at Vietcombank.

"It is an honour to partner with Vietnam's biggest and most reputed bank in their RTOM model. With FinnOne Neo, we will be able to ensure seamless delivery of high volume retail business for VCB, so that they will be able to launch innovative loan products promptly and optimise the retail customer on-boarding process. This will support VCB on their way to top-notch position in Retail Lending as well", says Mr. Parag Bhise, CEO, Nucleus Software.

VCB will use FinnOne Neo Customer Acquisition System (CAS), a comprehensive loan origination system, to control and automate various business processes and activities performed in the processing of a loan application for advanced risk management and business process optimization. It will help integrate VCB processes for acquisition and pre-disbursal.

In addition, VCB will use Origination API packs that provide seamless and controlled flow of data across systems. The API pack allows VCB to digitally connect with others in the ecosystem, which is fast and personalized service. User-friendly dashboard for application packs, credit packs, enquiry pack and disbursal pack will be applied across the loan origination function.

Nucleus' FinnOne Neo is a cutting-edge lending product that is designed to shape the future of lending across sectors. This is a multi-channel solution that accelerates digitization in the complete loan life-cycle from initiating contact with customers, making better & faster credit decisions, providing comprehensive loan services to creating analytical reports. It also has an agile and efficient design that reduces the operational cost by using advanced technologies to make the lending process seamless. Nucleus' lending platforms have been implemented across 50 countries worldwide and 10 times awarded winner of 'World's Best Selling Lending Solution'.

Shares of Nucleus Software Exports Limited was last trading in BSE at Rs. 494.25 as compared to the previous close of Rs. 486.70. The total number of shares traded during the day was 2124 in over 184 trades.

The stock hit an intraday high of Rs. 499.20 and intraday low of 489.50. The net turnover during the day was Rs. 1053562.00.

Source : Equity Bulls

Keywords

NucleusSoftwareExports INE096B01018 FPTInformationSystem RetailLoanOriginationSystem Vietcombank VCB