Nucleus Software to power digital lending transformation at Muthoot Fincorp
Nucleus Software Exports Limited announced on Tuesday that it will power digital lending transformation at India’s leading non-banking financial company (NBFC), Muthoot Fincorp Limited.
Nucleus Software provides lending and transaction banking solutions to the global financial services industry. It has clients in over 50 countries.
As a part of its ongoing group-wide digital transformation initiative, Muthoot Fincorp Ltd wanted to set the growth agenda for the next decade with a customer-centric, agile, and data-driven approach, supported by advanced technology. This initiative is called ‘Digital Blue’. The company will be using FinnOne Neo, the digital lending platform of Nucleus Software for this purpose. It will also improve the speed of new product launch by Muthoot Fincorp Ltd, enhance credit risk management, and reduce the cost of operations. Digital lending could drive the next phase of growth in the post-COVID-19 world for the NBFC sector.
The stock of Nucleus Software Exports Limited closed at 451.20, up by 0.33 per cent or Rs 1.5 per share. The intraday high is Rs 462.50 and the intraday low is Rs 440.15. Since the beginning of the year, the stock has given a return of 59.29 per cent thereby outperforming S&P BSE SmallCap Index, which gave a return of 2.66 per cent.