Religare Selects Nucleus Software's FinnOneTM To Drive Its Lending Services

26 March 2009

Religare Finvest Limited (RFL), a 100% subsidiary of Religare Enterprises Limited has chosen Nucleus' FinnOneâ„¢ suite to power its credit valuation, loan disbursal and collection processes across India. RFL selected FinnOneTM for credit evaluation, efficiency in loan disbursal and collection across all branches.

RFL is aggressive in the Financial Services arena across India offering three products – Mortgage, SME and Commercial Assets. All three will be catered by FinnOneTM through Auto, Personal and Home loan products. From among a great competitive pitch, RFL selected FinnOneTM for its state-ofthe- art modules, vast implementation experience, functionalities and domain expertise. An internationally proven product solution, FinnOneTM allows for effective introduction of quick-to-market products and schemes best addressing this challenging environment. It will provide RFL with a comprehensive, powerful, and flexible system to support their loan origination process and help in delinquency management.

According to Mr. Kavi Arora, President, Consumer Finance, Religare Finvest Limited, “Religare Finvest is aggressively strengthening its position in the consumer finance business. We chose FinnOneTM for the comprehensive functionalities provided by the solution, scalability and its successful track record. We realize that such projects require constant support and involvement from the organization itself, and believe that Nucleus Software will be able to match our expectations and partner in our growth.”

Mr. Vishnu R. Dusad, CEO and Managing Director, Nucleus Software Exports Limited said, “Nucleus Software is one of the largest IP creators in the country, dedicated to improving customer service delivery standards continuously. Religare Finvest Limited’s selection of FinnOneTM is yet another reinforcement of our leadership in the retail banking space across the world. We are pleased to partner with Religare and keen to make significant contribution in their growth of the consumer finance business.

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