Finova Capital to reach out to lower income segement with Nucleus Software

Source: Nucleus Software

Nucleus Software, the leading provider of lending and transaction banking solutions to the global financial services industry, today announced that Finova Capital, a Jaipur-based Non-Banking Financial Company (NBFC) has selected FinnOne Neo Cloud, the award winning loan life cycle management solution to digitise their lending business.

Founded in 2015, Finova Capital offers business loans to lower income segments in rural and urban areas. As a part of their strategic business expansion plan, Finova Capital has recently announced that it is targeting 500% growth in its loan portfolio this year. To fuel this growth, the company is providing an innovative digital experience to its customers.

Finova Capital has chosen Nucleus Software’s FinnOne Neo Cloud to set up a completely automated and paperless loan processing capability. The company aims to provide simpler and faster credit decision making as a key differentiator. FinnOne Neo Cloud will make Finova’s operations more agile, scalable and cost efficient. The company will be able to reduce their time-to-market and offer customer centric loan services across multiple channels. Finova will also implement Nucleus mobile lending solution - mCAS. It will help them to perform paperless data sourcing, check application statuses, and submit field investigation responses.

Mr. Mohit Sahney, Founder Director of Finova Capital said, “We have a very ambitious growth plan and we believe that digital will play a vital role in this journey. Nucleus Software is the market leader and FinnOne Neo is best suited to the needs of the NBFC segment. We are confident that by leveraging the power of digital with FinnOne Neo, we will be able to realize our vision of transforming credit delivery to the unorganized and unserved population in India”.

Mr. Vishnu R. Dusad, CEO, Nucleus Software said, “We are proud to be in a position to help Finova Capital in their mission to improve the quality of life for the lower income segment in India. This is something that we firmly believe in. Today, innovative financial services companies are leveraging digital and cloud to expand their credit reach across India and we are happy to partner with them. In the last couple of months, our success with FinnOne Neo cloud in the leading NBFCs in India shows that we are well placed, and have the right experience and technology”.

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