SYDNEY, January 31, 2016 /PRNewswire/ --
FinnOne to support BOQ's retail lending digital transformation program
Nucleus Software, the leading provider of lending and transaction banking solutions to the global financial services industry, further strengthens its global presence by announcing the successful launch and roll-out of its lending software at Bank of Queensland (BOQ), in Australia. BOQ, a leading Australian challenger Bank, has implemented Nucleus Software's award winning flagship lending product, FinnOneTM for its retail loan origination operations.
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Established in 1874, today Bank of Queensland has more than 200 branches across Australia, including a majority of owner-managed branches, ensuring a commitment to deliver exceptional personal service to their customers. To power its ongoing transformation program, BOQ selected Nucleus Software's FinnOne for its home and personal lending markets. With FinnOne, Nucleus Software is helping BOQ to increase its business agility and become paperless. FinnOne is revolutionizing multi-channel retail loan processing at the Bank across the front and middle offices. The advanced solution is also reducing process complexity in a range of ways, including replacing inflexible, hard copy rules with sophisticated, automated credit policies and process checklists. FinnOne will enable BOQ to get closer to its customers and help to speed up its "Time to Yes".
"Nucleus Software is a key partner and is assisting us in digitizing our home and personal lending operations. Their global expertise is helping us to achieve our vision of having a Bank that is much closer to our customers, and is assisting us to develop digital capabilities that will eventually allow our customers to transact anytime anywhere. FinnOne will streamline the Bank's retail loan operations as well as make us more nimble, providing us with the ability to introduce innovative, tailor-made products and customer-oriented services to meet the growing demands of our customers. Nucleus Software is at the centre of our mission to create Australia's most loved Bank," Mr. Jon Sutton, Chief Executive Officer, BOQ said.
Commenting on the successful launch, Mr. Vishnu R. Dusad, Chief Executive Officer, Nucleus Software said, "The collaboration with BOQ is significant in two ways - it is FinnOne's first customer in Australia and it further demonstrates our global expertise in lending. With more than 150 customers across the globe, we are delighted to welcome BOQ to our growing family. BOQ is on a major digitization drive in order to deliver par excellence customer experience and satisfaction. I am happy to see the confidence that they have placed in our advanced and functionally rich solution. I know that our three decades of expertise will help BOQ meet its business objectives, deliver better service to its customers and drive higher business value. I am confident that this partnership with one of Australia's leading challenger Banks will bring greater levels of customer satisfaction and I know that it will help to prove that it is possible to love a bank."
He further added, "Australia is an important market for us and in line with this ongoing commitment, we have also established our regional headquarters covering sales, professional services and support in Sydney."
Nucleus Software's flagship lending product, FinnOneTM has been ranked as the 'No. 1 Best Selling Lending System' by International Banking Systems (IBS) for the 7th year in a row. FinnOne™ is designed to support seamlessly integrated applications, provide operational support, risk management and decision-making capabilities to banks and financial services companies. FinnOne™ focuses on both, retail and corporate loans, thereby emerging as a comprehensive solution to back any line of the lending business.
About Bank of Queensland:
BOQ is one of Australia's leading regional banks and provides a genuinely independent alternative for Australian financial services customers. BOQ's strategy is based around operational excellence and delivering outstanding customer service. It offers products and services across retail and business banking, finance, general and life insurance and superannuation.
Established in 1874, Bank of Queensland has more than 200 branches nationally with representation in every Australian State and Territory. BOQ is one of the top 100 companies listed on the Australian Securities Exchange and has total assets of around $43.027 billion. http://www.boq.com.au/
About Nucleus Software
Nucleus Software is the leading provider of lending and transaction banking products to the global financial services industry. Its software powers the operations of more than 150 companies in 50 countries, supporting retail banking, corporate banking, cash management, internet banking, automotive finance and other business areas.
Nucleus Software is known for its world-class expertise and innovation in lending and transaction banking technology. It has two flagship products, built on the latest technology:
- FinnOneTM, named the World's Best Selling Lending System for 7 years running (IBS Publishing)
- FinnAxiaTM, an integrated global transaction banking solution used by banks worldwide to offer efficient and innovative global payments and receivables, liquidity management and business internet banking services.
Nucleus Software is listed on the National Stock Exchange and Bombay Stock Exchange in India. For more information, please visit http://www.nucleussoftware.com.
For further information, please contact:
Jamin Smith, Head of Media and Corporate Communication, BOQ
Email: mediarelations@boq.com.au
Phone: +61(0)7-3212-3018
Thomas Jones, Associate Vice President & Regional Sales Director - ANZ, Nucleus Software
Email: Thomas.jones@nucleussoftware.com
Phone: +61-2-9004-7202
Rashmi Joshi, Nucleus Software
Email: rashmi.joshi@nucleussoftware.com
Mob: +91-9560694654
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