BRAC Bank and Nucleus Software Win IBS Intelligence Global FinTech Innovation Awards for Deployment of Supply Chain Finance Solution for SMEs

PTI | New Delhi | Updated: 24-03-2023 10:26 IST | Created: 24-03-2023 10:26 IST
BRAC Bank and Nucleus Software Win IBS Intelligence Global FinTech Innovation Awards for Deployment of Supply Chain Finance Solution for SMEs
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The implementation of FinnAxia™, a Transaction Banking & Supply Chain Finance solution from Nucleus Software Exports Ltd, India, at BRAC BANK Limited, Bangladesh, enabled the bank to win the IBS Intelligence Global FinTech Innovation Awards 2022.

New Delhi, Delhi, India – Business Wire India • Faster customer onboarding • Implemented in short span of time • Extensive API stack enabling easy third-party integrations • Offering superior customer experience Nucleus Software, the leading provider of lending and transaction banking solutions to the global financial services industry, today announced winning the "Best Implementation in Transaction Banking" Award by IBS Intelligence Global FinTech Innovation Awards 2022, for an Innovative Transaction Banking solution implementation.

The award recognized the rapid implementation of Nucleus Software's Supply Chain Financing solution from their Transaction Banking Suite FinnAxia™ at BRAC Bank designed to support the bank's strategy of venturing into the supply chain financing market to provide seamless solutions for all its end customer offerings. As a result of the solution's sophisticated end-to-end digital capabilities, BRAC Bank can onboard customers faster and service in 4 minutes and 52 seconds enabling quicker customer activation. FinnAxia™ is a completely automated and paperless solution which enables the Banks customers to operate in a hassle-free environment thus creating customer delight and engagement.

Mr. Selim R. F. Hussain, Managing Director & CEO of BRAC Bank, said: "As a SME-focused bank, BRAC Bank always strives to cater to the evolving needs of the grassroots SME business owners. Aligned with the mission, with our new Supply Chain Finance solution developed by Nucleus Software, we will be able to help businesses keep pace with competitive and fast-changing business landscapes through seamless and faster financing support. The solution will fast track financing with digital tools, immensely benefiting the SMEs. At BRAC Bank, the solution will ensure faster service delivery and enhance efficiency and productivity and expand outreach. We are immensely honoured to have received this international award jointly with Nucleus Software. We will continue to adopt best-in-class technology to serve our customers better." Mr. Parag Bhise, Chief Executive Officer of Nucleus Software, added, "We are honored to work with BRAC Bank and to support their visionary approach to digitization. We are extremely delighted to receive this prestigious award alongside BRAC Bank and to be recognized for pioneering work and our efforts in Transaction Banking. We look forward to continuing to assist BRAC Bank as they expand their business and explore new ways to stay ahead of competition." About BRAC Bank - Bangladesh: BRAC Bank Limited traded as 'BRACBANK' on Dhaka Stock Exchange, has been one of the fastest-growing banks in Bangladesh with a particular focus on the SME segment. BRAC Bank takes pride at the highest Moody's Rating (currently Ba3) among all banks in Bangladesh for five consecutive years. It is also the first and only bank in Bangladesh with an issuer rating by S&P Global Ratings (B+). With 1.3 million customers, the bank has already proved to be the largest collateral-free SME financier. A member of the Global Alliance for Banking on Values (GABV), it continues to serve as a standard bearer for governance, transparency, ethics and compliance.

For more information, visit: About Nucleus Software – India Nucleus Software Exports Ltd. is a publicly traded (BSE: 531209, NSE: NUCLEUS), software product company that provides lending and transaction banking products to global financial leaders.

Nucleus Software powers the operations of 200+ Financial Institutions in 50+ countries, supporting retail and corporate lending, cash management, mobile and internet banking. Its products facilitate 26+ million transactions per day, managing over US $ 200 billion in loans and enabling 300,000+ daily users. Nucleus Software's flagship products, built on the latest technology are: • FinnOne NeoTM : The next-generation digital lending solution that is built on an advanced technology platform.

• FinnAxiaTM : An integrated global transaction banking solution used by banks worldwide.

• PaySeTM : The world's first online & offline digital payment solution created with an aim to democratize money.

For more information, please visit: To View the Image, Click on the Link Below: Nucleus Software Board members and Deputy MDs from BRAC Bank celebrating the win

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

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