Thursday Jun 28, 2007
Thursday, Nucleus Software Exports Ltd and Oracle has announced that NDB Bank of Sri Lanka has selected the company's flagship product, FinnOne Retail Suite on the Oracle database and Oracle Fusion Middleware.

NDB Bank indicated that it would implement Oracle technology based FinnOne Customer Acquisition System, FinnOne Lending and FinnOne Collections across its 32 branches in the country.

While FinnOne CAS will allow NDB bank to augment their acquisition in housing, consumer financing and leasing business, FinnOne Lending will enable NDB Bank for better operational and decision making support for the asset side business lines. FinnOne Collection will allow the bank to track their NPA's and delinquent customers.

NDB Bank is financing over 6,000 projects in all stages of growth and building up a large customer base through a network of branches around the island. With a focus on increasing customer base and intensifying competitive in the retail banking industry in Sri Lanka, it became imperative for NDB Bank to revamp its retail offerings with a world-class solution that will enable the bank to reduce time to market and offer attractive products in the retail space.

FinnOne Retail Suite

FinnOne Retail Suite runs on Oracle Database 10g and Oracle Application Server 10g, a component of Oracle Fusion Middleware. This will help NDB Bank gain increased efficiency in their operations, resulting in easy inter-operability across branches and developing efficient workflow systems in their lending business. .

About NDB of Sri Lanka

The National Development Bank of Sri Lanka is a provider of finance for medium and long-term projects in Sri Lanka.

About Nucleus Software

Nucleus Software Exports Ltd is a provider of software solutions for the banking and financial services industry. It has developed solutions in retail and corporate banking, credit cards, cash management relationship banking, CRM, ATM among others.

The company has more than 250 product implementations globally and a customer base of 141 spread in countries across Europe, Asia Pacific, South-East Asia, Middle East, Africa, America, Australia.

The company posted a net profit of Rs. 43 crores on total income of Rs. 151 crores for the fiscal year ended March 31, 2007.

Stock movement

At the NSE, Nucleus Software share are presently trading at Rs. 1,028.90, up 1.87% on volume of around 52K shares.

Source: Nasdaq