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Stock Report
Nucleus Software adss 10 new clients, announces business outlook
Posted On : 2006-10-30 02:23:02( TIMEZONE : IST )
Nucleus Software Exports Ltd has announced about the following:
Business Expansion:
- FinnOne™ lending today covering almost 70% of the incremental Retail Business in India is being adopted by leading global financial institutions for their retail banking solutions too.
- The Company will be providing technology solution for 10 new customers added during the quarter.
- The Company reiterated its position for providing world-Class position with 6 orders for its Products.
- The Company, during the quarter, also consolidated its leadership position with significant wins in Africa and the Middle East regions.
- The Company concluded this quarter with a multi-country order win with one of the most prominent international Bank, to implement Nucleus cash@will product.
New Client Orders:
During the quarter, the group added 10 new clients to its current portfolio, taking the total number to 134.
The Company reinforced its leadership position in the retail banking space with a significant order win one of the largest retail banks in UAE. Other product wins include orders from a leading bank in Africa and two client acquisitions in the Middle East region in the lending and loan management solutions space. The Company has also made fresh inroad in the SAARC region with two client wins, for the Company's Software's flagship product, FinnOne™.
"We are witnessing an increased demand for our loan management and collections solutions by various financial institutions across the world. Being a specialist provider in these solutions, we are in a position to leverage our rich experience and deliver consistent customer experience and in turn scale up operations" said Mr Vishnu R Dusad, Managing Director of the Company.
Growth Strategy:
The Company's overall strategy will be to aggressively target unconventional markets like Middle East, SAARC, South East Asian and Africa to not only consolidate our relationship, but also penetrate deeper into these markets. Banks in these markets are revamping their technology infrastructure rapidly, and the Company is strongly positioned to held them revamp their operations to be at par with global conglomerates. The Company's broad objective this financial year is to position itself to meet future challenges and at the same time address its customer needs.
