Nucleus Software gains over 4% on partnership with Mahindra Rural Housing Finance

Shares of Nucleus Software Exports Ltd gained as much as 4 percent on Tuesday after the software product company announced that Mahindra and Mahindra Financial Services Ltd’s subsidiary has partnered with it for robust digital lending operations.  

Mahindra Rural Housing Finance, one of the largest rural non-banking finance companies, has gone live on FinnOne Neo — the next-generation digital lending platform from Nucleus Software — for their retail and mortgage lending operations.
Nucleus Software said that the implementation was completed in under a year with zero business disruptions. FinnOne Neo would help Mahindra Rural Housing Finance with paperless operations from sourcing, loan disbursement to servicing. It would also enhance business agility and enable sustainable growth, along with robust and automated credit decisioning for intelligent risk management.
FinnOne Neo would further aid in streamlining and automating the customer acquisition process, besides loan management and servicing, to deliver hyper-personalised and secure services to Mahindra Rural Housing Finance’s end customers.
Talking of the partnership, Nucleus Software Exports CEO Parag Bhise said, “We are happy to partner Mahindra Rural Housing Finance in their digital transformation journey … keeping in mind ease of use, scalability, security and sustainability at every step. We have been able to achieve go live in record time with zero disruptions.”
Mahindra Rural Housing Finance MD and CEO Shantanu Rege said, “As we adapt to changing market dynamics and evolving consumer demands, we are confident that FinnOne Neo will catalyse optimized operational efficiencies and regulatory excellence.”
Reacting to the development, the Nucleus Software stock gained as much as 4.1 percent to hit an intra-day high of Rs 1,070 apiece on BSE on Monday. The stock has proven to be a multibagger, gaining over a whopping 170 percent year-to-date.
Nucleus Software powers the operations of more than 200 financial institutions in over 50 countries, supporting retail and corporate lending, cash management, mobile and internet banking. Its products facilitate more than 26 million transactions per day, managing over $500 billion of loans.
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