MICROCAPITAL BRIEF: Nucleus Software of India Debuts “FinnOne Neo mFin” Digital Microlending Tool for MFIs

Nucleus Software, an India-based provider of technology to financial services firms, recently announced the launch of FinnOne Neo mFin, a system that microfinance institution (MFI) staff can access via smartphones to perform tasks such as managing loan applications and checking credit reports. The service is part of Nucleus Software’s strategy to “use technology to make the 100 rupee [USD 1.57] loan possible.” The firm offers banking software for serving business customers, customer relationship management (CRM), and various lending apps. In addition to FinnOne Neo mFin, these lending apps are: mApply, which allows individuals to shop and apply for loans via smartphone; mCas, which helps lenders onboard new customers; mCollect, a consumer debt management tool; and mServe, which allows borrowers to access data such as loan balances and payment information.

Established in 1986 and based in India, Nucleus Software provides financial services companies with technology consulting, application development and network security services as well as products that support mobile lending, bank-to-business transactions and lending data analysis. As of June 2018, the firm has product installations in approximately 150 companies in 50 countries.

By Nicholas Galimberti, Research Associate

Sources and Additional Resources

Nucleus Software press release
http://www.nucleussoftware.com/news/press-release/nucleus-software-launches-mobile-based-lending-platform-for-microfinance-2018-06-11

Nucleus Software background
http://www.nucleussoftware.com/customers/fact-and-figures

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