FinnOne Neo is Nucleus Software’s award-winning retail lending product. The latest release aims at expansion of solutions to cater to the wider lending business segments of SME, MSME, and Corporate business while continuing the momentum of the retail and digital lending solutions by strengthening regional, technical, and API capabilities across the modules.
The company said in a filing on Wednesday that this release focused on following three main pillars i.e. introducing next-generation Corporate lending solution on FinnOne Neo platform with 3 new line of business through Bill Discounting, Cash credit, and Business Term loans; Strengthening regional capabilities for ensuring a robust lending ecosystem solution by bringing in leading fintech and API integration touchpoints; and Widening the lending solution footprint by introduction of Payout management solution, that facilitates management of complex and dynamic payout plans for collection agency business.
“It has been our endeavor to keep ahead of the curve and pre-empt the issues that may face the industry. The twice a year releases of FinnOne Neo ensure that our customers are equipped to handle any and every issue they may potentially face in their lending portfolio’, says Parag Bhise, CEO, Nucleus Software.
“FinnOne Neo GA 6.0 provides an advanced technology platform to help corporate lenders drive higher efficiencies, ensure better risk management and enhance customer experience”, he added.
This release comes power packed with capabilities to support diverse landscape of corporate lenders in their digital strategies. It brings in digital solution framework for corporate lending catering to complete loan lifecycle, starting from origination to servicing and collections. FinnOne Neo provides multiple lines of business in its corporate umbrella like Cash Credit, Business Loans and Bill Discounting loans. FinnOne Neo 6.0 allows business to use cash credit as a revolving limit and iss secured against company’s receivables and current assets.
In addition, this release widens the fintech landscape on FinnOne Neo with total 48 Fintech integrations that can readily elevate the consumer experience and operational efficiency to the next level. Eight new incremental Fintech and regional integrations are introduced in FinnOne Neo GA 6.0 like SIMAH credit bureau integration for Middle East market, Employment verification through office email, Video KYC with Shufti Pro, MCA integration for company data auto population and eCourt integration to view legal details in Collections.
FinnOne Neo 6.0 also introduces a new module with Payout Management System, which simplifies the computation of commissions/payout for various collection agencies and business partners, as per their terms and conditions. The solution is designed to make the entire payout process seamless and transparent along with increased efficiency and productivity.
At around 12.09 PM, Nucleus Software Exports Ltd was trading at Rs673.75 per piece up by Rs3.75 or 0.56% from its previous closing of Rs670 per piece on the BSE.