 "Mashreq Bank Implements FinnOne FAS Solution")
Nucleus Software, a provider of next generation software products for banking and financial sector has signed a deal with Mashreq Bank, UAE’s largest private bank, to implement its flagship product FinnOne Finance Against Securities (FAS).
FinnOne FAS has been implemented across the bank’s 46 branches and will help enhance the bank’s turnaround time in approving loans against securities, determining and managing the credit limit for a customer.
The primary objective of FinnOne Finance Against Securities (FAS) solution is to value the collateral security provided by the customer in order to determine credit worthiness. As market value of the security offered is very volatile in nature, the system conducts valuation on regular intervals.
Alexander Sinclair, CEO, MindScape, the IT arm of Mashreq Bank, commented, “Mashreq Bank understands and values the importance of regular updates in its IT solutions, the policy was always to choose the best and the most secure software products, for this, we have chosen the FinnOne Solution from Nucleus Software.”
“The bank has chosen our solution because of our track record and our domain understanding of the industry. We are confident that our solution will help them achieve their overall business goals,” stated Vishnu R Dusad, CEO & MD, Nucleus Software.