Nucleus Software's FinnOne Neo to transform PVcomBank's retail lending; Stock zooms 8.5%

19 Jul 2022 , 10:31 AM

Nucleus Software and CMC-TS have entered into an agreement with Vietnam Public Joint-stock Commercial Bank (“PVcomBank”) to digitally transform the bank’s lending origination operations.

As per the filing, with Nucleus Software’s lending platform FinnOne Neo, PVcomBank plans to launch innovative products and services in the market with great speed. Through this partnership, PVcomBank is expecting to double its consumer loans within the next 4 to 5 years.

Tan Tran (CEO, PVcomBank) said, “PVcomBank has been focussed on providing “Gapless Banking” to it’s customers and in line with this theme, we have decided to partner with the best in the Fintech industry- Nucleus Software. FinnOne Neo is a highly flexible, scalable platform with omni-channel capabilities that will support the diversified needs of our individual and corporate customers.

We are confident that with the advanced functionalities and robust technology of FinnOne Neo, we will be able to move at an accelerated pace to become a Lifetime bank”.

Parag Bhise (CEO, Nucleus Software) said, “We are confident that our platform will enable PVcomBank to move rapidly towards digitisation of lending, cater to the Bank’s goals of retail product proliferation and help streamline its operations. We are strongly committed to Vietnam’s financial service sector’s development in partnering with them to unlock growth and help them stay ahead of the curve.

Our association with CMC-TC demonstrates our commitment to provide world class services across Vietnam and South East Asia.”

At around 10:35 AM, Nucleus Software Exports was trading at Rs443.65 per share up by Rs34.75 or 8.5% from its previous closing of Rs408.90 per share on the BSE.