Opel Vauxhall Finance goes live in Spain with Nucleus Software’s flagship lending product, FinnOne

Spain becomes the 9th European Country for OVF partnership with Nucleus Software.

Oct 05, 2021 12:10 IST India Infoline News Service

Opel Vauxhall Finance announces the going live in Spain of Nucleus Software Exports Limited’s flagship lending product, fine. Nucleus Software is the leading provider of lending and transaction banking products and solutions to the global financial industry. Spain becomes the ninth European country for Opel Vauxhall Finance (OVF) to go live with FinnOne.

OVF is the automotive finance captive organization of Opel and Vauxhall, supported by Stellantis and BNP Paribas. OVF trades under strong local brands such as Opel Bank, Opel Financial Services, and Vauxhall Finance. OVF has multiple operational branches across Europe, each operating under a local bank licence or Financial Institution.

While FinnOne has been supporting businesses for Opel Vauxhall Finance in Europe since 2006, Spain is the latest country that will run OVF business using FinnOne. The OVF FinnOne partnership began in Italy and then moved on to Belgium, Netherlands, UK, France, Germany, Austria and Switzerland. The OVF portfolio includes a wide range of auto financing products, including consumer loans, leasing, insurance and service contracts.

Opel Vauxhall Finance wanted to utilize its core applications to achieve economies of scale. Nucleus Software FinnOne SRS (Strategic Retail Solution) is helping OVF in leveraging existing functionalities and aligning Spanish business processes to the OVF strategic applications rather than customizing and increasing scope & cost.

“With FinnOne going live for Spain, Opel Vauxhall Finance will be able to improve operational efficiency and align with the corporate strategic technology framework. With enhanced digitization, we will also be able to strengthen the collaboration framework with Opel/Vauxhall to increase the volume of financed/leased vehicles while at the same time raising retail margins across Europe”, says Alexandre Sorel, CEO of Opel Vauxhall Finance.

“We are proud to continue to bring value to our long-term partnership with Opel Vauxhall Finance (OVF). Spain is the ninth European country where FinnOne is supporting OVF in running their complex business. Having a common solution running across nine countries provides a competitive edge to OVF in terms of operational efficiency, uniform rollouts and standardization. We were able to go live despite the pandemic by meeting business commitments thanks to the coming together of OVF and Nucleus teams using our deep expertise in off-shore implementation methodology”, says Parag Bhise, CEO, Nucleus Software.

At around 12.40 pm, Nucleus Software Exports Ltd was trading at Rs585 per piece up by Rs1.95 or 0.33% from its previous closing of Rs583.05 per piece on the BSE.

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