August 30 2021: Kerala-based South Indian Bank has opted for the FinnOne Neo solution fromNucleus Software to fuel its retail banking operations.
With FinnOne Neo, the bank can focus on launching products such as Home Loans, Loan Against Property (LAP), Loan Against Securities(LAS) and Personal loans with digital first approach followed by various other retail products. The solution will help the bank completely digitize its retail lending process with end to end digital on-boarding, data driven decision making and an integrated landscape, leveraging financial tech and third-party data sources, digital channels of distribution, digitized credit policy, etc.In addition, FinnOne Neo will help South Indian Bank to stay ahead of the curve by empowering it with cutting-edge technology. The solution will help the bank utiliseAPIs to integrate with third party solutions which will help speed up digitization of credit decisions of small ticket loans.
FinnOne Neo is built on an advanced technology platform, designed to shape the future of lending across Retail and Corporate sectors. The solution also helps comprehensive loan servicing and sophisticated delinquency management. FinnOne Neo has been designed to meet the challenges of delivering agile and efficient solutions while reducing the cost of operations. With implementations across 50 countries, FinnOne has been recognized as the world’s best-selling lending solution for over 10 years.
Says Murali Ramakrishnan, MD & CEO, South IndianBank: “We has always been the numero uno when it comes to customer centric options. With the digitization of the lending process, we will be able to unlock the value that the bank has to offer to the market. As part of our business transformation initiative, we are leveraging technology to focus on areas of MSME & Retail Loans. With Nucleus Software’s expertise, we will be able to diversify the asset portfolio and increase penetration in retail lending in the most efficient manner."
Adds Nucleus Software CEO Parag Bhise: “Nucleus Software is happy to be associated with one of the foremost private banks in the South of India. South Indian Bank is known for its innovation and we are happy to provide them with the technology platform that will make them move their retail lending requirements to a seamless digital offering that is customer friendly, resilient, safe and very efficient."
South Indian Bank is one of the leading banks of South India with all India presence and known for its tech and innovation driven growth. Today it has 924 branches and 1174 ATM’s spread across India.
Nucleus Software Exports Ltd. is a software product company that provides lending and transaction banking products to global financial leaders.
Nucleus Software powers the operations of more than 200 Financial Institutions in over 50 countries, supporting retail lending, corporate banking, cash management, mobile and internet banking, automotive finance and other business areas. Its products facilitate more than 26 million transactions each day, managing over US $ 200 billion of loans and enabling more than 200,000 users logging in daily.