Nucleus Software Exports Limited (NSEL) was incorporated on 9th January 1989 as a Private Limited Company. It was subsequently converted into a Public Limited Company on 10 October 1994. The Company m
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ade an Initial Public Offer in August 1995. The Company has wholly owned subsidiaries in India, Singapore, USA, Japan, Netherlands, South Africa and Australia. The Company's business consists of software product development and marketing and providing support services mainly for corporate business entities in the banking and financial services sector.
For over 20 years, the company has developed solutions spanning from Retail Banking to Corporate Banking, Cash Management, Trade Finance, Internet Banking and Credit Cards. The Company's services are aligning in the categories of Outsourcing Software Solutions, Software Support and Maintenance and Customized Software Development. FinnOne, the Flagship product of NSEL is a comprehensive suite for Retail Banking applications comprising of modules and others includes Cash@Will, TRAde facto, BankOnet and PowerCARD are in the area of Cash Management, Trade Finance, Internet Banking and Credit Cards respectively. Complementary solutions like Rewards, Credit Card Application Processing System ccAPS & Fraud Management System, FMS also forms a part of product offering from Nucleus Software.
The Company's status was converted from private limited to public limited on 10th October of the year 1994. During the year 1995-96 the Company set up a Products Group, created alliances that helps in deciding Product directions, evolve specifications and finally get the product to the customers. The Company had set up wholly owned subsidiaries namely Nucleus Software Japan Kubushiki Kaiga and Nucleus Software (HK) Ltd in November of the year 2001 and in March of the year 2002 respectively. Nucleus Software ranked amongst the 'Top 5 product companies' by NASSCOM in the year of 2002. During the year 2003, NSEL had assessed at SW-CMM Level 5 based on the Capability Maturity Model (CMM) and also Nucleus Software entered into partnership with Langchao group, China. The Company had received the award for 'Outstanding Contribution in Tech Adoption' from Sun Microsystems during the year 2004.
NSEL had signed a joint marketing agreement with Sun Microsystems in the year of 2005 and also signed a contract with Jordan-based Arab Bank, for implementing its loan originating system (LOS) in September of the same year 2005. First Bank of Nigeria (FBN), one of the largest banks in Africa, selected Nucleus' flagship solution - FinnOne TM CAS, Lending & Collections Suite, by way of this, the company made its foray into African region in August of the year 2006. In October 2007, Amlak Finance PJSC, the largest publicity Islamic real estate company and NSEL had signed a contract to utilize the company's vibrant product FinnOne. The Company had opened its new development centre in Chennai in November of the year 2007 as it sees increasing demand from South Asian market.
FinnOne Loan Organisation System of the company goes live at Bank of the Philippines Islands in January of the year 2008. NSEL bagged new client in April of the year 2008 namely Reem Finance, a non banking financial institution headquartered in Dubai. NSEL has added six new modules to the upgraded version of its flagship product FinnOne version 3.5 in November of the same year 2008.
During the year 2008, Nucleus Software Ltd., a wholly-owned subsidiary of the Company acquired 17.41 acres of land in a SEZ in Jaipur at a private sector multi-product Special Economic Zone,'Mahindra World City'.
During the year 2015, Company launched FinnOne NeoTM, a product designed to manage end-to-end lending requirements of banking and financial services industry. It launched, the world's first offline digital cash solution, PaySe, Along with PaySe, it introduced PURSE, a mobile to carry money, and PalmATM a bank teller application to democratize money in 2016. The flagship product, FinnOne Neo was launched on cloud; Lending Analytics product was also launched in 2016. As a part of ongoing development program, Company launched FinnAxiaTM 3.0, the latest version of its next-generation integrated transaction banking product suite.
During 2016, the Company acquired 96% stake in Avon Mobility Solutions Pvt. Ltd., a Company based in Chennai and resulting to this, was made Subsidiary of Nucleus. The Company launched ECM - Enterprise Content Management solution in 2018. It launched FinnAxia 5.0 including a newly launched Trade Finance Portal.
During year 2019, the Company acquired the remaining 4% shareholding of Avon Mobility Solutions Pvt. Ltd and became the wholly owned Subsidiary of the Company. It released FinnOne Neo 4.0 in May 2019 and FinnOne Neo 4.5 in Nov' 19.
In 2020, the Company launched a Geo tracking application for microfinance sourcing channel- mFin and mobile collection channel- mCollect. It launched the latest versionas of transaction banking solution FinnAxia 6.5 and FinnAxia 7.0.
In 2020-21, the Company released FinnOne Neo 5.0 in May 2020 and FinnOne Neo 5.5 in November 2020. It launched Sales Assist specialized loan sourcing channel for sales staff and collateral management system for complete collateral life cycle management.
In FY 2018-19, the Board of Directors of Company had approved a scheme of amalgamation , providing for the merger of its wholly owned subsidiaries, Virstra I Technology Services Ltd. and Avon Mobility Solutions Pvt. Ltd., with Nucleus Software Exports Ltd. (the Company), which became effective from 1st July, 2020. Consequent to the above effect of Scheme, the business undertakings of Virtsra I Technology Services Ltd. and Avon Mobility Solutions Pvt. Ltd., got transferred to and vested in the Company w.e.f 1 April 2019, as the appointed date in the Scheme.
The r Company released FinnOne Neo 6.0 in July 2021 and FinnOne Neo 6.5 in January 2022. It launched Payout Management System specialized in calculating payout of commission and incentive for collection agents. It launched the latest version of Transaction Banking solution, FinnAxia 8.5, which enabled corporate to make informed decisions on their cash positions and banks. The Company released FinnOne Neo 6.0 in July 2021 and FinnOne Neo 6.5 in January 2022. The last release - FinnAxia 8.5 in FY 21-22 enabled corporate to make informed decisions on their cash positions and banks to seamlessly provide integrated one stop secured solution to their corporate.
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