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NEW DELHI, India – (BUSINESS WIRE) – Nov. October 2021–
Opel Vauxhall Finance announces the go-live of Nucleus Software’s flagship loan product, FinnOne, in Spain. Nucleus Software is the leading provider of credit and transactional banking products and solutions to the global financial industry. Spain is the ninth European country for Opel Vauxhall Finance (OVF) to go live with FinnOne.
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OVF is the in-house automotive finance organization of Opel and Vauxhall, supported by Stellantis and BNP Paribas. OVF trades 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 license or financial institution.
While FinnOne has been supporting companies for Opel Vauxhall Finance in Europe since 2006, Spain is the newest country to do OVF business with FinnOne. The OVF FinnOne partnership started in Italy and then moved to Belgium, the Netherlands, Great Britain, France, Germany, Austria and Switzerland. The OVF portfolio includes a wide range of auto finance products including consumer credit, leasing, insurance and service contracts.
Opel Vauxhall Finance wanted to leverage its core applications to achieve economies of scale. Nucleus Software FinnOne SRS (Strategic Retail Solution) helps OVF to use existing functionalities and to align Spanish business processes with OVF’s strategic applications instead of adjusting and increasing scope and costs.
“With FinnOne going live in Spain, Opel Vauxhall Finance will be able to improve operational efficiencies and adapt to the company’s strategic technology framework. As digitization progresses, we will also be able to strengthen the cooperation framework with Opel / Vauxhall in order to increase the volume of financed / leased vehicles and at the same time increase retail margins across Europe. “ says Alexandre Sorel, CEO of Opel Vauxhall Finance.
“We are proud to continue to add value to our longstanding partnership with Opel Vauxhall Finance (OVF). Spain is the ninth European country where FinnOne supports OVF in running its complex business. A joint solution in nine countries offers OVF a competitive advantage in terms of operational efficiency, uniform rollouts and standardization. We were able to go live despite the pandemic by meeting our business commitments thanks to bringing OVF and Nucleus teams together with our extensive expertise in offshore implementation methodology. “ says Parag Bhise, CEO, Nucleus Software.
About Opel Vauxhall Finance:
OVF (Opel Vauxhall Finance) is the in-house automotive finance organization of Opel and Vauxhall, supported by Stellantis and BNP Paribas, which was acquired by GM Financial in 2017. OVF trades 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 license or financial institution. For IT operations, everything is controlled from Great Britain under the name Opel Vauxhall Finance.
The portfolio includes a wide range of auto finance products, including consumer credit, leasing, insurance and service contracts, and dealer finance. In Germany, OVF also offers money market accounts and time deposits directly to end consumers in addition to our classic automobile financing business.
The main goal of OVF is to meet the mobility needs of customers across Europe while maintaining and developing the Opel and Vauxhall brands through competitive and attractive financing solutions for the automotive industry. Funding for Opel and Vauxhall Brands dates back to 1920 when the company opened its first London office to help people in the UK finance their vehicles. In 1929, the Opel Financing Company Ltd was founded in Rüsselsheim as a strategic financing partner of Opel.
About Nucleus Software:
Nucleus Software Exports Ltd. is a publicly traded (BSE: 531209, NSE: NUCLEUS) software product company providing credit and transaction banking products to the world’s leading financial companies.
Nucleus Software supports the operations of more than 200 financial institutions in over 50 countries and supports retail lending, corporate banking, cash management, mobile and internet banking, automotive finance, and other businesses. Its products enable more than 26 million transactions daily, manage over $ 200 billion in loans, and enable more than 200,000 users to log in daily.
For more information, please visit: www.nucleussoftware.com.
Show source version on businesswire.com:https://www.businesswire.com/news/home/20211005005757/de/
CONTACT: Dr. Ritika Dusad
Nucleus software
KEYWORD: INDIA CANADA NORTH AMERICA SPAIN ASIA-PACIFIC EUROPE
INDUSTRY KEYWORD: PROFESSIONAL SERVICES DATA MANAGEMENT TECHNOLOGY FINANCIAL SOFTWARE BANKING
SOURCE: Nucleus Software Exports Ltd.
Copyright Business Wire 2021.
PUB: 10/5/2021 9:07 AM / DISC: 10/5/2021 9:07 AM
Copyright Business Wire 2021.
