NEW DELHI, India – (BUSINESS WIRE) – October 5, 2021–
Opel Vauxhall Finance announces the entry into service in Spain of Nucleus Software’s flagship loan product, FinnOne. Nucleus Software is the leading provider of lending and transaction banking products and solutions to the global financial industry. Spain becomes the ninth European country for Opel Vauxhall Finance (OVF) to bring FinnOne online.
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OVF is the captive automotive finance organization of Opel and Vauxhall, supported by Stellantis and BNP Paribas. OVF operates under strong local brands such as Opel Bank, Opel Financial Services and Vauxhall Finance. OVF has several operational branches across Europe, each operating under a local banking or financial institution license.
While FinnOne has been supporting Opel Vauxhall Finance businesses in Europe since 2006, Spain is the latest country to run OVF’s business using FinnOne. The OVF FinnOne partnership started in Italy and then expanded to Belgium, the Netherlands, UK, France, Germany, Austria and Switzerland. OVF’s portfolio includes a wide range of automotive finance products, including consumer loans, leasing, insurance and service contracts.
Opel Vauxhall Finance wanted to use its core applications to achieve economies of scale. Nucleus Software FinnOne SRS (Strategic Retail Solution) helps OVF leverage existing functionality and align Spanish business processes with strategic OVF applications rather than customizing and increasing reach and costs.
“With the launch of FinnOne in Spain, Opel Vauxhall Finance will be able to improve its operational efficiency and align with the strategic technological framework of the company. With improved digitization, we will also be able to strengthen the framework of collaboration with Opel / Vauxhall to increase the volume of vehicles financed / leased while increasing retail margins across Europe ”, said Alexandre Sorel, CEO of Opel Vauxhall Finance.
“We are proud to continue to add value to our long-term partnership with Opel Vauxhall Finance (OVF). Spain is the ninth European country where FinnOne supports OVF in the management of its complex activities. Having a common solution in nine countries gives OVF a competitive advantage in terms of operational efficiency, uniform deployments and standardization. We were able to get started despite the pandemic by respecting commercial commitments thanks to the merger of the OVF and Nucleus teams using our in-depth expertise in off-shore implementation methodology ”, said Parag Bhise, CEO, Nucleus Software.
About Opel Vauxhall Finance:
OVF (Opel Vauxhall Finance) is the captive automotive finance organization of Opel and Vauxhall, backed by Stellantis and BNP Paribas, taken over from GM Financial in 2017. OVF operates under strong local brands such as Opel Bank, Opel Financial Services and Vauxhall Finance. OVF has several operational branches across Europe, each operating under a local banking or financial institution license. For IT operations everything is controlled from the UK under the name Opel Vauxhall Finance.
Its portfolio includes a wide range of auto finance products, including consumer loans, leasing, insurance and service contracts as well as dealer finance. In Germany, OVF also offers monetary accounts and term deposits directly to end consumers, in addition to our traditional automobile financing business.
OVF’s main objective is to meet the mobility needs of customers across Europe, while supporting and developing the Opel and Vauxhall brands through competitive and attractive automotive financing solutions. Funding for Opel and Vauxhall Brands dates back to 1920 when it opened its first office in London, helping people in the UK finance their vehicles. In 1929 Opel Finanzierungsgesellschaft mbH was founded in Russelsheim, Germany as a strategic financial partner of Opel.
About the Nucleus software:
Nucleus Software Exports Ltd. is a publicly traded software products company (ESB: 531209, NSE: NUCLEUS) that provides lending and transaction banking products to global financial leaders.
Nucleus Software powers the operations of more than 200 financial institutions in more than 50 countries, supporting retail lending, business banking, cash management, mobile and internet banking, auto finance and more business areas. Its products facilitate more than 26 million transactions every day, manage more than $ 200 billion in loans, and connect more than 200,000 users daily.
For more information, please visit: www.nucleussoftware.com.
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CONTACT: Dr Ritika Dusad
KEYWORD: INDIA CANADA NORTH AMERICA SPAIN ASIA PACIFIC EUROPE
KEYWORD INDUSTRY: PROFESSIONAL SERVICES DATA MANAGEMENT TECHNOLOGY FINANCE SOFTWARE BANKING
SOURCE: Nucleus Software Exports Ltd.
Copyright Business Wire 2021.
PUB: 05/10/2021 09:07 / DISC: 05/10/2021 09:07
Copyright Business Wire 2021.