Nucleus bags order from General Motors

NEW DELHI: Nucleus Software Exports Ltd, a Delhi based banking automation and

software solutions firm, has bagged an order from General Motors Acceptance

Corporation (GMAC) for its flagship product, 'Finness'.

GMAC, a financial institution and subsidiary of General Motors, extends

credit to thousands of GM dealers and distributors. GMAC finances the

distribution and sale of new and used products by these dealers. The company

provides financing plans for both wholesale and retailing transactions.

The product will help GMAC in enabling a robust and flexible system to allow

centralized loan processing for its dealers and distributors. GMAC will roll out

'Finness' lending product in the South Asian region.

Speaking on the occasion Nucleus Software managing director Vishnu Dusad,

said the order from GMAC for their mission critical application has shown that

Indian product companies were ready to meet the challenge in the global arena.

On the future plans of the company, he said Nucleus would shortly open a new

development center in Chennai and branch offices in Japan, which would be

converted into a subsidiary at a later stage.

The company has generated profit of Rs 35 crore and is now expecting and

excess of Rs 70 crore, next year.