India-based Nucleus Software is a long standing player, particularly in the lending systems space. Its FinnOne suite (the latest version is FinnOne Neo, see below for more details) spans most forms of retail and commercial lending, including specialist areas such as autofinance, syndications and Islamic, and there is also a range of other applications that can be sold with the core lending platform or as standalone solutions. The company is strong in its domestic market and South East Asia, with users as well in the Middle East, Africa, Europe and the US. One major multisite user of FinnOne is GMAC, for autofinance. Nucleus’ roots go back to the mid-1980s, when three graduates of the Indian Institute of Technology formed a company, International Information Systems, to provide software to the financial sector. Its first big break came in 1986 with a services contract from Citibank. Soon after, the company was renamed Nucleus Software Workshop. Through working with Citibank, new opportunities were generated throughout South East Asia which led to the creation of Nucleus Software Exports, which commenced operations in 1989.
Over the following years, the Nucleus/Citibank relationship saw projects in Australia, Indonesia, Malaysia, Singapore, Taiwan, and Thailand. From 1990 to 1994, offshore development projects were undertaken in Saudi Arabia and Singapore. By the close of 1993, the company had restructured to cater independently for Indian and overseas requirements. In 1994, the first wholly-owned subsidiary was opened, in Singapore.
