UAE bank adopts Nucleus software's FinnOne

UAE’s National Bank of Umm Al Qaiwain (NBQ) will adopt FinnOne, a software product solution developed by Nucleus Software Exports Ltd, the global provider of software products for banks and financial institutions, according to a statement released by Nucleus.

The UAE bank will use the software for its retail finance division where it would aid in providing support to the bank’s loan origination process. This is expected to reduce the turnaround time and filter out bad debts for the bank.

“We are happy to see our client base grow in the UAE where we are strengthening our position as a preferred vendor,” said Vishnu R Dusad, CEO and managing director of Delhi-based Nucleus Software.

NBQ which has 16 branches in Emirates, currently offers retail, corporate and institutional banking services.

Nucleus Software has about 150 global customers. The company’s share price at the Bombay Stock Exchange has increased 6 per cent at Rs 48.25 in the past one month.