Singapore, Feb 28, 2014 - (ACN Newswire) - Nucleus Software Exports Limited, (NSE: NUCLEUS, BSE: 531209), a leading provider of software products and solutions for the banks and financial services industry worldwide, today announced the launch of FinnAxia - a new, dynamic and comprehensive product suite designed to power the transaction banking space.
Developed on the foundations of the company's deep banking domain knowledge, its understanding of the market dynamics and based on continuous customer collaboration, Nucleus Software's FinnAxia is a robust and reliable product suite to fulfill the dynamic needs of global transaction banking market. Banks and large corporates increasingly require granular information in real-time across the financial value chain and a 360 degree view of all transactions to predict accurate cash flow needs and optimize the entire financial value chain to unlock trapped working capital.
Speaking on this special occasion, Mr. Vishnu R. Dusad, Founder, CEO and Managing Director, Nucleus Software, said "Providing Customer centric products amidst dynamic market conditions has become essential for banks and financial institutions seeking growth. This new product suite provides our customers an integrated solution to effectively manage key aspects of transaction banking with a perfect combination of rich value drivers including versatility, agility and high operational efficiency. FinnAxia continues our endeavor to provide consistent business value to our customers drawing upon 27 years of rich domain expertise. Additionally, in today's connected world, FinnAxia's mobility solutions will ensure our customers' competitive edge."
Banks and large corporates increasingly require granular information in real-time across the financial value chain and a 360 view of all transactions to predict accurate cash flow needs and optimize the entire financial value chain to unlock trapped working capital. Resonating with the numerous market research reports that are estimating a sharp growth riding on increased focus of infrastructure, standardization, personalization, centralization and automation in the South East Asia market, this product is geared to take Transaction Banking technology to the next level.
Mr. V Muralikrishna, Global Head - Sales & Marketing, Nucleus Software, added "FinnAxia's robust design using multi layered Service Oriented Architecture will help our customers achieve operational efficiencies and offer greater business values to their corporate customers across countries on a secure single platform. This functionally rich, market ready product suite has been tested with few customers globally and has successfully delivered business value. Our understanding of customers' business and successful track record of product implementations in over 50 countries makes us a trusted and reliable partner for leading banks."
THE KEY FACETS OF FINNAXIA
'Global Payments' which makes money flow anytime anywhere. Managing account payables amidst regulations & tight liquidity conditions, scores high on every treasurers agenda. The global payments product module supports a comprehensive set of features geared to handle and manage the corporate customer's payments needs, thereby enhancing the quality of customer service. Bulk payments, Payroll, cheque printing, supplier vendor payments, standing orders and managing correspondent bank relationships for multi currency payments in multi country and multi time-zone environment etc. all add to the feature repository of Global Payments.
'Global Receivables' which synergizes cash flows is also high on priority since managing outstanding account receivables and ensuring timely collections is critical not only from the perspective of balance sheet management but also for ensuring shareholder confidence. It enables banks in defining flexible receivables products and services related to account receivable management, cash flow forecasting, processing utility bill collections through direct debits and e-receipts thereby ensuring optimum fund consolidation and ensuring straight through reconciliation through dynamic reconciliation tools and techniques.
Identifying the urgent need to unlock trapped working capital, FinnAxia's next module of 'Liquidity Management' not only empowers banks to manage account payables, receivables and fund forecasting but it also can revolutionize the entire financial value chain. The product module helps banks in defining cash concentration structures based on corporates operating model thereby ensuring optimum fund consolidation. It gives the added flexibility for just the necessary fund movement thereby retaining optimum account balances and maximizing interest income on consolidated balances and managing inter-company liabilities.
FinnAxia 'Business Internet Banking' is the internet front end for bank's customers to view and manage their total financial position, anywhere and anytime. It ensures Bank's corporate customers have total transparency, freedom and greater control, allowing them to manage their corporate finances as easily and conveniently as private customers. With a single liquidity view across multiple currencies and jurisdictions, the customers have the freedom to manage their cash inflows and outflows 24/7.
'e-Financial Supply Chain Management' which invigorates business value chains. It enables the financial flows of the business value chain and runs in parallel to the physical supply chain of a company. FSCM facilitates linking of the anchor customer with its suppliers and dealers, thereby optimizing the use of working capital through its unique pre and post shipment financing offerings. Purchase order financing, invoice discounting, invoice financing and factoring all form an integral part of what e-FSCM has to offer.
FinnAxia Mobility Solutions
Functionally rich and scalable, FinnAxia's mobility suite is underpinned by a security layer, providing users with a reliable and enterprise wide security access control. The solution's transaction processing capabilities integrates payments, cash management, account services and liquidity management to transform customer's device into fingertip banking thereby enabling additive and transformational banking.
About Nucleus Software Exports Limited
Nucleus Software is a leading software powerhouse providing innovative and pioneering software solutions for Banks and Financial organizations globally. Nucleus Software offers a host of competitive IT solutions and consultancy services designed to support the whole spectrum of business offerings across retail banking, corporate banking, cards and cash management. With presence in 50 countries and over 150 customers across the globe, the company is consistently innovating with cutting edge and industry driven products in the domain. Nucleus Software is listed on the National Stock Exchange and Bombay Stock Exchange in India. For more information, visit www.nucleussoftware.com.
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