Source: Nucleus Software
Nucleus Software Exports Limited (NSE: NUCLEUS, BSE: 531209), the leading provider of mission critical lending and transaction banking products to the global financial services industry, announced a collaboration with Red Hat, the world's leading provider of open source solutions.
The collaboration means Nucleus Software can offer banks and finance companies significant speed and cost benefits through a wider choice of technology platforms on which to run its market leading software.
Nucleus Software’s products power the lending and transaction banking operations of more than 150 companies across 50 countries. In a highly competitive market banks and financial institutions face continuous pressure to improve their IT infrastructure and operations while driving down costs; this collaboration between Nucleus Software and Red Hat will provide scalable, proven and cost-effective solutions to help them achieve that.
Avnish Datt, Head of Global Strategy at Nucleus Software, said: "Banking and financial institutions worldwide face increasing competition and compliance along with changing customer demands. Nucleus Software’s solutions help them launch innovative finance products, deliver greater customer value, comply with regulations and respond to market change. Our collaboration with Red Hat allows us to provide our customers across the globe with the potential for even greater business value through a faster, more cost effective technology platform.”
Jagjit Singh Arora, Director of Regional Sales at Red Hat India, added: “We are pleased that Nucleus Software has found cost-savings and value in Red Hat JBoss Enterprise Application Platform (EAP). India has a large Java developer community and we are grateful for the increased opportunities within the banking and financing sectors. We plan to work to further streamline our offerings so our partners and customers can enjoy accelerated deployment of applications and get to the market faster.”
This collaboration has already delivered value to the market. A leading global bank with more than 4,000 branches worldwide is currently benefiting from reduced infrastructure procurement and maintenance costs thanks to the powerful combination delivered by Nucleus Software and Red Hat. The bank has derived significant benefits including easier access to data, increased efficiency, a robust solution for multiple time zones resulting in improved data integrity, connectivity with multiple core banking systems and reduced turnaround time for customers. The combined solution offered by Nucleus Software and Red Hat is anticipated to be rolled out in at least 10 countries.