India Business
Nucleus Software wins UAE bank contract
Mar 20, 2007 - 4:43:06 PM

Bangalore, March 20 - Nucleus Software Export Ltd, a leading provider of next generation software products for banking and financial sectors, has bagged a major contract from UAE's largest private sector Mashreq Bank for its 46 branches across the Gulf region.

As the UAE's second oldest commercial bank, Mashreq Bank was originally set up as Bank of Oman in 1967 and changed its name in 1973 to Mashreq, which in Arabic means both sunrise and the east. The bank has four branches in Qatar, two in India and one each in Bahrain, Egypt, Hong Kong, Britain and the US.

The bank's IT arm - chief executive Alexander Sinclair said Mashreq had selected Nucleus' product to upgrade its IT solutions and streamline operations for providing cost-effective services to its customers.

With about 140 clients in the banking and financial sector space, the Noida-based Nucleus claimed it had leadership position in geographies spanning Europe, West Asia and Africa. The company has 150 orders for implementations in 80 countries by 2008.

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