Nucleus Software Gains Over 4% After Bagging Order From Vietnam Bank

Share price of Nucleus Software Exports gained more than three per cent on Thursday, December 23, after the company announced that it bagged an order from Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank - VCB). Nucleus Software shares opened on the BSE at Rs 497.05, swinging to an intra day high of Rs 520.70 and an intra day low of Rs 495.60, during the trading session so far.

Nucleus Software Exports Ltd – FPT Information System (FIS) Consortium, the leading provider of lending and transaction banking products to the global financial services industry, has been awarded the contract for its retail loan origination system by Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank - VCB), according to a regulatory filing by the company to the stock exchanges today. 

Nucleus' FinnOne Neo, the retail lending software, will help VCB to provide end-to-end digitization and launch loan products, optimize customer on-boarding process, standardize credit appraisal processes and provide loan reports.

“VCB is initiating Retail Transformation Operation Model (RTOM) to focus on not just digitization but complete reorganization and systemization of the bank's internal processes. We were looking at a robust system to manage our current and future retail loan offerings and chose FinnOne Neo because of its capabilities across all aspects of the lending life-cycle'', said Ms. Nguyen Thi Kim Oanh, Deputy General Director – Head of Retail Banking Group at Vietcombank.

VCB will use FinnOne Neo Customer Acquisition System (CAS) - a comprehensive loan origination system, to control and automate various business processes and activities performed in the processing of a loan application for advanced risk management and business process optimization. It will help integrate processes for acquisition and pre-disbursal.

Nucleus FinnOne Neo is a multi-channel solution that accelerates digitization in the complete loan life-cycle from initiating contact with customers, making better and faster credit decisions, providing loan services to creating analytical reports. It also has an agile and efficient design that reduces operational costs by using advanced technologies to make the lending process easier.

Vietcombank - VCB is one of the biggest commercial banks in Vietnam and has more than 600 branches in Vietnam and across the globe.

On the NSE, Nucleus Software opened at Rs 493.20, registering an intra day high of Rs 521, and an intra day low of Rs 493.20, during the session so far. It was last trading 4.26 per cent higher at Rs 517.65 on the NSE.

At 10:39 am, shares of Nucleus Software were trading 4.49 per cent higher at Rs 516.45 apiece on the BSE.