Amlak Finance PJSC, the largest publicly listed Islamic Home Finance Company offering Sharia’a solutions, announced at a signing ceremony that it has signed a contract with Nucleus Software and will utilize its flagship ‘FinnOne™’ retail products. Amlak will implement the FinnOne™ Customer Acquisition System (CAS) and FinnOne™ Collections Modules.
The implementation of this system will allow Amlak Finance to provide greater efficiency to all of its clients. By utilizing the new modules, Amlak’s finance approval processing mechanism will be enhanced by complimenting the function of its existing financing systems.
Amlak appointed Cedar Management Consulting, a leading Management and IT consulting firm to facilitate the selection process of this new system. Cedar will also help in project managing the implementation to ensure overall alignment with international best practices and Amlak’s business strategy.
Speaking on the occasion, Arif Alharmi, CEO of Amlak Finance commented, “Streamlining our approval processing system with the Nucleus software, FinnOne, will not only make our existing system even more effective, but will also quicken the turnaround time for the application evaluation. Our home finance clients will benefit from this faster approvals procedure. As this system is used throughout the globe, we are pleased to be achieving international standards in application processing.”
“This is a strategic win for us” comments Vishnu R. Dusad, CEO & MD, Nucleus Software Exports Limited, “Together, we will be able to create a value that will benefit the customer immensely. Increased efficiency and automation are benefits that the consumer is certain to enjoy.”
“Implementing this world-class software will translate into a value-added benefit to our clients when they experience a quick turnaround time in the processing of their application. Amlak continually strives to offer the best services to its customers, through investing time and resource in market leading technologies such as the Nucleus software,” concluded Alharmi.
About Amlak Finance PJSC (Amlak)
Amlak is the largest publicly listed Islamic Home Finance Company offering Sharia’a solutions, and a pioneer of home finance in the UAE. Amlak was established in November 2000 as a wholly-owned subsidiary of its still major shareholder Emaar Properties PJSC (Emaar). Emaar currently holds 45% stake in the company. Amlak has been listed in the Dubai Financial Market since March 2004.
About Nucleus Software Exports Ltd (Nucleus)
Nucleus is a leading global software powerhouse providing innovative and pioneering products and software solutions for Banks and Financial companies across the globe. Nucleus Software offers a host of competitive IT solutions and consultancy services designed to support the whole spectrum of business offerings across retail banking, corporate banking, credit card, CRM, ATM etc. With a vision to revolutionize the product software domain, the Company is consistently innovating with cutting edge industry driven solutions. Nucleus Software is listed on the National Stock Exchange and Bombay Stock Exchange in India. For more information, visit www.nucleussoftware.com
About Cedar Management Consulting (Cedar)
Cedar is a leading global Management and IT consulting firm with network offices in 15 countries, and assisted over 800 clients. Since 1985, its team has been assisting clients in the areas of strategy, process, strategic HR, and IT. It is currently assisting Amlak with formulation and implementation of Business and IT Strategy initiatives. Cedar has assisted several financial services clients in evaluating, selecting and program managing core IT systems. For more information, visit www.cedar-consulting.com
