Home / Nucleus to supply DIB with finnone module

Nucleus to supply DIB with finnone module

Dubai Islamic Bank (DIB) is aiming to speed up consumer loan processing by deploying a specialised banking solution from Nucleus Software.

Dubai Islamic Bank (DIB) is aiming to speed up consumer loan processing by deploying a specialised banking solution from Nucleus Software.

The bank is to deploy the Indian vendor’s FinnOne Customer Acquisition System (CAS) product across 40 of its branches by end of 2007.

CAS is part of Nucleus’ FinnOne Suite of applications designed to support the business offerings of banks and financial services firms.

The web-based processing system for consumer loans will automate the process of obtaining loans, giving the bank higher productivity and a faster turnaround time, Niraj Vedwa, global head of sales and marketing at Nucleus Software, told IT Weekly.

“By increasing productivity they will achieve savings. They will also be able to offer loans much faster in the market, which means they will get more customers,” Vedwa said.

Loans were previously processed on DIB’s core banking system, Vedwa said.

A spokesperson for DIB said the bank changed its loan processing system to improve its turnaround time and reduce back office dependency.

RAK Bank and Mashreq Bank are also FinnOne customers.

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