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05 February, 2023 15:50 IST
Nucleus Software's FinnOne Neo to power South Indian Bank's retail lending landscape
Source: IRIS | 25 Aug, 2021, 08.18AM
Rating: NAN / 5 stars.
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Nucleus Software Exports, a provider of integrated software products for banks and financial institutions, announced that it will empower South Indian Bank, a Kerala based leading Private sector bank in South India, by providing the best-in-class digital solution offering to revamp the bank’s current retail lending landscape.

"South Indian Bank has always been the numero uno when it comes to customer centric options. With the digitization of the lending process, we will be able to unlock the value that the bank has to offer to the market. As part of our business transformation initiative, we are leveraging technology to focus on areas of MSME & Retail Loans. With Nucleus Software’s expertise, we will be able to diversify the asset portfolio and increase penetration in retail lending in the most efficient manner," said Murali Ramakrishnan, MD & CEO, South Indian Bank.

"Nucleus Software is happy to be associated with one of the foremost private banks in the South of India. South Indian Bank is known for its innovation and we are happy to provide them with the technology platform that will make them move their retail lending requirements to a seamless digital offering that is customer friendly, resilient, safe and very efficient," stated Parag Bhise, CEO, Nucleus Software.

With FinnOne Neo, the bank can focus on launching products such as Home Loans, Loan Against Property (LAP), Loan Against Securities (LAS) and Personal loans with digital first approach followed by various other retail products.

The solution will help the bank completely digitize its retail lending process with end to end digital on-boarding, data driven decision making and an integrated landscape, leveraging financial tech and third-party data sources, digital channels of distribution, digitized credit policy, etc.

Shares of the company gained Rs 24.35, or 4.64%, to settle at  Rs 549.15.  The total volume of shares traded  was  20,493 at the BSE (Tuesday).

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