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Tuesday, March 14, 2006

Solution Provider Nucleus Software Declares Partnership with RAKBANK

Leading solution provider in the banking and financial services industry Nucleus Software declared it will be teaming up with RAKBANK, UAE’s leading retail bank. Nucleus will install FinnOneTM, a cutting-edge software package, to help all the bank’s branches with their retail assets division.

FinnOneTM is the major brand of the globally-serving solution provider Nucleus Software’s India presence. It has already helped over 100 worldwide banks streamline operations with user-friendly features and innovative solutions. With the help of FinnOneTM, RAKBANK will be able to help personalize customers’ banking experience and generally improve its customer service abilities. The product will create automated systems for retail operations and increase efficiency.

The new technology was designed by the solution provider to handle a variety of specific tasks including the following:

1. The FinnOneTM Loan Originating Systems (LOS) that automate and manage the complete application process for those refinancing and obtaining auto loans, personal loans, home loans, credit cards, leasing and other services.
2. The FinnONe TM Lending System allows RAKBANK to introduce clients to new product offerings and customized services in a way that personalizes the experience for account holders and gives them information before it becomes public.
3. The FinnOneTM Collections application is provided by Nucleus and is a browser-based product that allows account holders to access information from anywhere at any time. This product also makes it easy for bank employees to manage delinquent payments and can also be integrated with the systems of collection agencies, outside offices and other legal entities.

The goal of this partnership is to provide RAKBANK with updated IT infrastructure that will support growth and development of the bank. Solution provider Nucleus is taking advantage of the opportunity to further entrench itself in the increasingly competitive Middle East banking industry and help provide it with strategies to improve efficiency.

Blogged By: Joshua Feinberg