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Nucleus Software has successfully implemented its FinnOne Neo Collections platform at Bank Muscat, revolutionizing the bank’s collections operations in Oman. The digital lending product aims to improve delinquency management and streamline collections processes.
The shares of Nucleus Software Exports Limited were trading at ₹1,145.55 up by ₹45.50 or 4.14 per cent on the NSE today at 12.56 pm.
The new system enables proactive, real-time monitoring of loans, helping Bank Muscat detect and resolve potential Non-Performing Assets (NPAs) more effectively. Abdullah Hamood Al Jufaili, Assistant General Manager of Digital Banking at Bank Muscat, highlighted the platform’s alignment with the bank’s customer-centric vision and ability to enhance risk management.
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Nucleus Software, which has partnered with Bank Muscat since 2010, has upgraded the bank from its previous FinnOne Collections system. The implementation is expected to improve operational efficiency, reduce credit losses, and enhance overall profitability.
Bank Muscat, a leading financial services provider in Oman with approximately $2.9 billion in assets under management, operates 185 branches and over 895 service machines. The bank’s strategic move underscores its commitment to digital transformation in the banking sector.
The collaboration represents a significant technological advancement in collections management for financial institutions in the Middle East and Africa region.
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