Nucleus Software partners with Microsoft to deliver cloud-based lending solution globally

The global banking and financial services industry is undergoing a major transformation driven by growing competition and new technology. 

 

The growth of cloud technology is emerging as a key driver for change, allowing established players and new competitors alike to respond to customer needs with innovative products and easy availability of services with low overheads. 

 

As a result cloud computing services are becoming popular across the banking landscape as they reduce complexity and costs while improving agility for delivering banking solutions.
 

According to a recent Ovum report, over 60% of the retail banks across the globe are spending between 20%-39% of their new IT spending on Software-as-a-Service; Infrastructure-as-a-Service and Platform-as-a-Service for easy access to a range of scalable, cost-effective IT solutions, increased speed to market of new offerings and simplified IT infrastructure with reduced overheads.

Harish Vaidyanathan, Director - ISV Business, Developer Experience, Microsoft India said, “With Microsoft Azure we are helping Nucleus Software address requirements of the banking and financial services industry. Azure is a trusted cloud platform for critical sectors such as banking and finance, given the inherent security of the platform, while also being flexible and scalable. We are looking forward to a partnership with Nucleus Software in leveraging the best of Microsoft platform to provide differentiated value to our BFSI customers.”

Commenting on the partnership,  Arup Das, Vice President and Global Head– Lending Product, Nucleus Software said, “We are excited about our partnership with Microsoft for its cloud services to drive the next wave of growth for the banking industry. For three decades we have been helping our customers with the best-in-class software technology to stay competitive and deliver superior customer  experience."

 

"The partnership with Microsoft is a step ahead in this direction and marks a significant milestone in our product leadership. Making FinnOne Neo available on the cloud will provide banks and finance companies with a much needed lending platform that is secure, scalable and responsive to the changing customer demands," said he.