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

by James · March 23, 2023

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 a short period of time • Extensive API stack enabling easy third-party integrations • Provides superior customer experience Nucleus Software, the leading provider of lending and transaction banking solutions to the global financial services industry, today announced that win the “Best Implementation in Transaction Banking” award of the 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 to enter 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 faster customer activation. FinnAxia™ is a fully automated and paperless solution that enables the bank’s customers to operate in a problem-free environment and thus create customer satisfaction and engagement.

Mr. Selim RF Hussain, Managing Director and CEO of BRAC Bank said, “As an SME-focused bank, BRAC Bank always strives to cater to the evolving needs of grassroots SME business owners. In line with its mission, with our new Supply Chain Finance solution developed by Nucleus Software, we will be able to help companies keep pace with competitive and fast-changing business landscape through seamless and faster financing support. The solution will accelerate financing with digital tools, greatly benefiting SMEs. At BRAC Bank, the solution will ensure faster service delivery and increase efficiency and productivity and extend our reach. We are incredibly honored to have received this international award together with Nucleus Software. We will continue to adopt best-in-class technology to better serve our customers.” Mr. Parag Bhise, CEO of Nucleus Software added, “We are honored to work with BRAC Bank and support their visionary approach to digitization. We are very pleased to receive this prestigious award together with 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 grow their business and explore new ways to stay ahead of the competition.” About BRAC Bank – Bangladesh: BRAC Bank Limited is traded as ‘BRACBANK’ on the Dhaka Stock Exchange and has been one of the fastest growing banks in Bangladesh with a particular focus on the SME segment. BRAC Bank boasts 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 proven to be the largest security-free SME financier. As 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 products company that provides lending and transaction banking products to global financial leaders.

Nucleus Software operates the operations of 200+ financial institutions in over 50 countries, supporting retail and corporate lending, cash management, mobile and internet banking. Their products facilitate 26+ million transactions per day, manage over $200 billion in loans and enable 300,000+ daily users. Nucleus Software’s flagship products, built on the latest technology, are: • FinnOne NeoTM : Next-generation digital lending solution built on an advanced technology platform.

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

• PaySeTM : The world’s first online and offline digital payment solution created with the goal of democratizing money.

For more information, please visit: To view the image, click on the link below: Board members of Nucleus Software and Deputy Managing Directors of BRAC Bank celebrate the victory

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