Nucleus Software Exports Limited, a provider of software products for the financial sector, has announced selection of FinnOne CAS, Loan Management and Collections Suite, by YES BANK.

In a bid to offer value added retail liability and asset offerings, as also third party wealth management products to customers, Yes Bank will deploy FinnOne CAS across all its 24 branches in India.

Nucleus Software will install the software at the bank. It will enhance capabilities such as loan management, collection suite, personal loans, home loans, credit cards and streamline the sales team to ensure quicker turn around time for customer acquisition.

Rana Kapoor, founder /MD & CEO, Yes Bank, says, "Considering that Yes Bank has no legacy issues, we will be able to quickly and efficiently rollout the system. We have witnessed a significant buildup of our retail banking and wealth management functions and will continue to strengthen them through our state-of-the-art platform nationally. We are confident that with Nucleus' support and commitment, we will be able to strengthen our rapid business growth."

"We are eager to partner with the bank in its endeavour to revamp its lending business," adds Vishnu Dusad, CEO & MD, Nucleus.

Kulmanji: DO you remember all these songs by heart or is there a ready reckoner in hand. As for the presence of mind it is really exceptional.

Ahh! Nice duet Kulmanji. You really have a great mind for poetry, songs etc. That was pretty darn fast. By the way Basant sir, question for you on TV18 board.

Ya thanks Sandeep ji. Somewhere down the line, we were all expecting Yes Bank to go into Retail and I had made a wild guess in my mind that maybe Nucleus would be picked(bcoz if its niche specialization being into retail and loans), and more so bcoz Yes Bank didnt have any legacy issues and hence would pick up only the best software provider, rather than make a decision, in some way affected by its legacy computer systems. I didnt think it would be so soon though. Anyhow, this is good news. I however wonder if they took "Nucleus' new model of sharing a part of their loan portfolio instead of paying them a huge sum at the beginning". Yes Bank is an ideal candidate for this as Yes Bank is just getting started in Retail and if it does grow its loan clientle in a big way(which I hope), then Nucleus's own revenues would keep increasing, as Yes Bank grows.

Edited by omshivaya - 08/Jan/2007 at 9:51pm