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While the implications of COVID-19 are still evolving and the path forward is uncertain, it is abundantly clear that it will have a profound effect on the world as we know it. Many individuals and businesses are uncertain about their sources of income, about how they will be affected and about when they can get back to business as usual.

 

The Financial Services Industry has a critical role to play. Lending, in particular, is under tremendous focus and lenders need to gear up to address the changing dynamics. Beyond the near term mitigations, there are broader questions including where the industry is headed, and how deep the global recession will be. However, it is said that in the midst of every crisis, lies great opportunity. In fact, a 2010 Harvard study of 4,700 public companies across 3 recessions found that only 9% of companies flourished after the recession, whereas 80% of the firms had not regained their prerecession growth rates 3 years after the recession. What then should the lenders do to make sure they are part of the 9%?

 

There are three main phases. Firstly banks need to React – mitigate the immediate challenges posed by the situation, secondly they need to Adapt– align to the short or medium term implications and finally they need to Lead – use this as an opportunity to emerge stronger, more agile and more competitive than ever before. Against this backdrop, experts from Nucleus Software hosted a webinar on how the future of lending looks like in an increasingly virtualized world.

 

Topics we discussed include:

  • Customer engagement and servicing – establishing contactless connections
  • Accelerated AI adoption to automate processes without dehumanising them
  • Keeping up with a fast changing regulatory landscape – conformity through agility and flexibility

 

Click here to Watch On-Demand Webinar to view the recording of this webinar, specifically designed for the global leaders of lending community.

Watch On-Demand Webinar













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Our Offerings

Loan Origination Software

Digitize and automate your customer acquisition processes from lead generation to credit decisioning and customer onboarding to loan disbursal. FinnOne Neo helps you launch innovative products in minutes, make better credit decisions faster, provide omni-channel access, integrate with ecosystem, incorporate business driven and regulatory changes easily.

Loan Origination Software

  • 1 new loan booked every second
  • 80% reduction in loan origination cost per customer for a bank
  • 100+ customers using Customer Acquisition System
  • 16x increase in new customer acquisition for a bank
  • 99% reduction in loan sourcing turnaround time for a financial institution (HDB)

Loan Management Software

Offer a seamless, fast and personalized customer experience during the loan servicing lifecycle, which not only provides a competitive positioning but also enables cross-sell opportunities. It helps you benefit from API based servicing, offer value added products, provide 24x7 automated operations, identify delinquent accounts early and manage risk effectively.

Loan Management Software

  • 100 M active loans managed on our systems globally
  • $200 B value of loans managed
  • 80+ customers using Loan Management System
  • Managing $645M loan book for a financial institution
  • 2,700 lending product variants in use by customers

Loan Collections Software

Manage the loan collections lifecycle smartly from soft calling of delinquent accounts to tackling hard bucket collections, including legal follow ups. With its unique features and integration capabilities, FinnOne Neo builds behaviour scorecards through customer segmentation and helps you boost collections, reduce cost, minimize non-performing loans and reduce risk.

Loan Collections Software

  • Reduction of NPA by 21 % for a bank
  • 43-70% improvement in the month-end batch processing duration for a bank
  • 23% reduction in default rate from 10.2% to 7.8% by identifying the worst 31% of bad loans for a financial institution
  • 95+ customers using Loan Collection System
  • 2.5x increase in number of promise-to-pay responses for a financial institution

Nucleus Lending Analytics

With cutting edge capabilities of ML and text mining, Nucleus Lending Analytics helps you benefit from data-driven insights to target the right customers, optimize marketing campaigns, offer risk-based pricing, enhance speed & accuracy of credit decisioning, reduce customer churn, identify accounts at pre-delinquent stage, and improve loan collections.

Nucleus Lending Analytics

  • 96% average good rate in identifying the top 40% of their loan portfolio
  • 27% reduction in NPLs in one year
  • 80% reduction in credit approval time for a fintech
  • 15% improvement in profit margins due to enhanced efficiency
  • 23% reduction in default rate from 10.2% to 7.8%

Nucleus Lending Mobility

Embrace the power of mobile to meet market needs of real-time access, continuous availability and better operational control. FinnOne Neo Lending Mobility includes mobile applications for customer acquisition, self-sourcing, loan servicing and delinquency management to help you on-board faster, deliver door step servicing and simplify collection processes.

Nucleus Lending Mobility

  • $4.7 B+ value of loans disbursed via mCAS mobility
  • 190 K loan applications submitted through mCAS & mApply
  • 62 M+ transactions processed via mServe mobility
  • $2.3 B+ loan amount collected via mCollect mobility

Enterprise Content Management

Digitally mange enterprise content from upload and processing to search, retrieval and archival with FinnOne Neo Enterprise Content Management to enhance operational efficiency, automate processes, improve collaboration across teams, implement controls, reduce costs, speed up loan processing, tighten security and improve compliance.

Enterprise Content Management

  • 45% reduction in Turn-around-time for on-boarding for a bank
  • 75% reduction in printing and stationary cost for an NBFC
  • 20% reduction in cost of operations for loan processing for a bank
  • 100% digitization of loan applications in the system for a bank

Customer Speak

Hilmar Scheel, CEO, bob Finance AG, Valora Group, Zurich, Switzerland shares why they chose Nucleus Software as a Partner

Jon Sutton, CEO, Bank of Queensland, Australia on creating Australia’s most loved bank

Mr. Sunil Kapoor, MD of Roha Housing Finance speaks on digitizing business with FinnOne Neo Cloud

Mr. G. Ramesh, MD & CEO, HDB Financial Services speaks on leveraging the power of Lending Analytics

Why Nucleus Software?