Nucleus Software rises on tie-up with Mahindra Finance

This tech partnership with FinnOne NeoTM, the flagship product of Nucleus Software, will help in strengthening the backbone of Mahindra Finance for scaling up, the company said

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Nucleus Software Exports share climbed more than 3 percent in the morning trade after the company inked a pact with Mahindra Finance to automate post disbursement the non-banking finance company’s post-loan lifecycle among other services.

This tech partnership with FinnOne NeoTM, the flagship product of Nucleus Software, would help in strengthening the backbone of Mahindra Finance for scale up, the company said. With its plug-and-play features, the product has the technological capability to link with partner eco-systems through various fintechs, it added.

“We are immensely happy that Mahindra Finance chose our IP product offerings over building bespoke software through a Services firm which clearly demonstrates the strength of FinnOne Neo’s digital capabilities,” CEO Parag Bhise said.

The partnership will seek to enhance the employee experience of Mahindra Finance’s backoffice and operations teams, leveraging the capabilities of FinnOne NeoTM LMS and FinnOne NeoTM Collections.

FinnOne NeoTM CAS would offer a strong credit backbone to power the loan origination journey. These modules shall integrate with the entire business eco-system at Mahindra Finance through its API capabilities, it said.

As of 10.13 am, the stock advanced 3.55 percent to Rs 1,155 to hit the day’s high but had pared most of its gains by noon to trade at Rs 1,126, up about 1 percent.

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Nucleus Software is a software product company that provides lending and transaction banking products to the global financial services industry.

The partnership was a perfect example of strategic planning and collaboration on shaping strategy and automating operations, Bhise said.

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