Nucleus Software Exports, an Indian provider of integrated software for financial institutions, has signed a half-a-million dollar deal with Saudi Arabia’s Arab National Bank (ANB). ANB, Nucleus’ first customer in Middle East, will install the FinnOne suite of solutions within the next eight-nine months.
ANB is headquartered in Riyadh and had total assets of 41.9 billion Saudi riyals ($11.2 billion) as at June 30, 2002. ANB is one of the ten commercial banks in the Kingdom of Saudi Arabia. It was established in 1980 upon the nationalization of the six branches of the Arab Bank of Jordan. The Arab Bank owns 40 percent of the shares of ANB while the remaining 60 percent is owned by 5,000 Saudi Nationals. The bank’s network has grown to 117 branches including one branch in London.
Nucleus Software has been providing customized software solutions since 1986 with focus on the banking and financial services sector. The solutions developed by Nucleus include retail banking systems, credit card systems relationship banking, telephone banking, customer activated service terminals, personalized sales and marketing systems and ATM network.
With offices in India, USA, Japan and Singapore, the company has expanded its marketing operations into Canada, Africa and the Arabian Gulf region. Nucleus has set up offshore development centers at Chennai, Bangalore and Singapore.
FINNONE is a powerhouse of integrated software modules, for the financial services business. Built on the scalable Oracle platform, FINNONE is multi-branch, multi-currency and supports multilingual implementation. FINNONE Lending aims at providing end-to-end solutions for lending businesses. The software has features like staggered application entry, credit scoring aided approvals, disbursal cheque printing, flexible pricing and repayment schemes, floating and fixed rate loans, loan rescheduling, fore-closure, non performing assets monitoring. — (menareport.com)
© 2002 Mena Report (www.menareport.com)
