Nucleus Software rises over 4 per cent after FinnOne Neo ranks among top 3 retail loan origination systems worldwide

Nucleus Software today announced the recognition of its digital lending solution, FinnOne Neo by Aite Group.

Aite Group is the world’s leading research & advisory firm for the financial services industry.

Reacting to this, the stock of Nucleus Software Exports jumped 4.78 per cent and made an intraday high of Rs 555.15.

FinnOne Neo is a digital lending solution, designed to shape the future of lending across retail, corporate and Islamic sectors for banks as well as other financial service companies. The machine learning (ML)-enabled analytics capability helps it to target the relevant products to customers at the right time through the right channel.

On a consolidated basis, for Q2FY21, the company reported net sales of Rs 136.99 crore, an increase of 6.84 per cent, as against the net sales of Rs 128.22 crore for Q2FY20. Nucleus Software Exports gained a net profit of Rs 29.45 crore in Q2FY21, which is an expansion by 39.64 per cent compared to the net profit of Rs 21.09 crore gained in Q2FY20.

Nucleus Software provides services to the banking and financial organisations worldwide in helping them succeed by providing pioneering products, innovative services, and above all, solutions for their business needs. It offers lending and transaction banking products.

At 3.06 pm today, the share of Nucleus Software Exports was trading at Rs 551.95 on BSE, up by 4.18 per cent.