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HDFC Bank deploys Nucleus' FinnOne

By SiliconIndia   |    2 Comments
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New Delhi: Nucleus Software Exports, a provider of integrated software products for banks and financial institutions, announced today that their product FinnOne, has been supporting and delivering operation and strengthening rapid business growth at HDFC Bank.

FinnOne has been powering HDFC Bank with four modules - finance against security (FAS) since 1997, loan management (LMS) since 1999, collection (CMS) since 2001 and loan origination system (LOS) since 2004. HDFC Bank has implemented the complete suite of FinnOne at an enterprise level and supports retail assets business across 1400 branches and over 550 towns and cities across India. FinnOne has helped the bank in providing a comprehensive, flexible and secured automated solution to its customers. FinnOne has facilitated effective tracking of loans applications, timely disbursements and swift decision-making, thus contributing to better-cost management at par with international standards. FinnOne ensures ease and efficiency in delinquency management, supporting the objective of acquiring operational and decision-making support for all the asset side business lines.

FinnOne comprehensive suite has enabled HDFC Bank to service its customers more efficiently and has enhanced productivity with systems being available 24x7. With the turn around time now reduced for application processing, and robust systems enabling processing of high numbers, there has been a significant improvement in the banks customer services. Munish Mittal, Head - Technology Solutions Group, HDFC Bank said, "Straight through processing is integral vision of IT which FinnOne enables by ensuring automated flow of approved applications along with disbursement details from origination system to the lending management solution, thus improving accuracy and reducing manual processing. The origination solution also interfaces real time with bank's customer application de-duplication system as well as with the Credit Bureau for bureau report to make the process of underwriting standardized."

On this occasion, Vishnu R. Dusad, CEO and Managing Director (MD), Nucleus Software said, "We are delighted with our successful partnership with HDFC Bank. We are committed to continual improvement in all aspects of our business and to be able to further reinforce product offer, service and delivery to our customers. It is our sustained focus on providing excellent services to our clients and innovation in product development that has got us this far."

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Reader's comments(2)
1: did you see that over at squidoo? because i saw a similar article there..anyhow good read non the less.
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