Intercontinental Bank, Nigeria goes live on Nucleus Software's FinnOneTM banking solution

New Delhi - 18 May 2009

Nucleus Software Exports Limited (NSE: NUCLEUS, BSE: 531209), a leading global provider of integrated software products for banks and financial institutions, today announced the successful implementation of FinnOne™ at Intercontinental Bank, Nigeria. FinnOne™ has automated the bank’s Credit Origination process and provided end-to-end solutions for Retail & Corporate Loans. Selected after a thorough evaluation of the various system proposals, FinnOneTM has expedited and enhanced customer service by automating the credit origination, effectively tracking applications, timely disbursements, faster collections, on time income accruals and swift decision making.

Intercontinental Bank with over 300 branches is one of Nigeria's strongest brands, enjoying a reputation for excellent customer service, superior financial performance and exceptionally high returns on investment. As a part of global expansion they have opened subsidiary banks in Ghana and London.

On this occasion Mr. Adebiyi Olayinka, Executive Director, Intercontinental Bank, Nigeria commented, “Nucleus Software's FinnOneTM was chosen after a rigorous selection process for the automation of our credit process. Implementation at the initial stages is not easy but at the end of the day, the choice of the software in terms of its benefits outweighs the challenges. The Bank can now process credit online, improve on Credit Turn around Time, achieve objectivity in credit processing/approval and consequently improve on the quality of its risk assets while also achieving dramatic improvement in customer service delivery. This is in addition to ultimately capturing the credit market. As we look forward to a mutually beneficial future relationship, we once again thank and congratulate Nucleus for a successful implementation.”

Vishnu R. Dusad, CEO & Managing Director, Nucleus Software, said, “The decision of Intercontinental Bank, Nigeria to choose FinnOne™ is a testimony to how Nucleus’ product offerings is transforming the business of retail and corporate credit across the entire expanse of Africa. This successful implementation justifies the faith reposed in us and reiterates FinnOneTM's position as the leader in this space. We are positive that the bank will far exceed customer expectations by leveraging our technology and we are optimistic that our partnership will go a long way. ”

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