FinnOne Neo 5.5 launched by Nucleus Software for ‘BNPL’ capabilities

By Edil Corneille

Today, lending and transaction banking solutions provider – Nucleus Software, announced the launch of FinnOne Neo 5.5, the latest version of its digital lending platform. The new version has been designed specifically to help lenders rapidly expand business operations and generate new digital revenue streams by targeting new customer segments. It will rapidly enhance the digital portfolio of lenders and deliver end-to-end contactless banking.

FinnOne Neo 5.5 helps lenders easily handle the complexities associated with managing ‘Buy Now Pay Later’ (BNPL) instant digital loans. With support for a range of channels including mobile apps and web portals, FinnOne Neo 5.5 facilitates digital processing of the entire loan lifecycle. The solution provides comprehensive support for specialist automotive lenders across operating and finance leases, while also delivering additional revenue generation options through Value Added Products. To improve convenience and provide 24×7 contactless operations, customers can now complete loan service requests through smart watches, fitness trackers and WhatsApp-based Chatbots.

To improve security and compliance, FinnOne Neo 5.5 allows lenders to conduct contactless on-boarding with Video KYC integrations. The solution helps lenders increase effectiveness and efficiency in collections by providing tele-callers with context sensitive calling scripts that are automatically tailored for each customer. With a continued regulatory focus on moratoriums and loan restructuring, FinnOne Neo 5.5 allows lenders to handle multiple complex scenarios easily for such compliance needs.

Brajesh Khandelwal (Global Head – FinnOne Neo) said, “With this new release, we have put a lot of emphasis on helping lenders grow their businesses safely in a world where people are reluctant to meet face to face. Our commitment to enabling a completely automated and open banking experience in lending is reflected in the ‘best in class’ 415+APIs offered by FinnOne Neo. We have dramatically simplified the loan origination processes by ensuring that all the essential capabilities can be easily completed over the digital channels that the customers are increasingly turning to… We have integrated with video KYC providers and over 40 FinTechs across the globe for instant loan processing and approvals. In-depth capabilities such as Pay Later, context sensitive calling scripts, UPI Collect based secure digital payments and delivery of eReceipts on WhatsApp will further drive the digital engagements in an increasingly virtual world.”