Ravi Pratap Singh, Nucleus Software

Ravi Pratap Singh, Nucleus Software

Nucleus Software has released its mobile loan self-sourcing solution – mApply – for the Australian market.

The firm says mApply helps banks digitise their loan origination lifecycle. Customers and mortgage brokers can view pre-approved loan offers from a bank, select the best offer and submit a paperless loan application “within minutes” and “without any need to visit the bank branch”.

Ravi Pratap Singh, executive director and president – products, Nucleus Software, says: “Australian banks are the front runners in adopting cutting edge technology to enhance customer experience and we feel that Australia is a perfect market for this innovative solution.”

The solution lets customers track their loan application though the process from application to conditional and full approval. After customers have accepted the loan, they can use the same app to access re-payment schedules, account statements and transaction reports on-the-go.

In a separate deal, Nucleus Software’s lending solution FinnOne, recently went live at Bank of Queensland. The project was started in December 2013.

The fall

Recently, the company’s net profit after tax and revenue decreased in the financial year (FY 2016).

Vishnu Dusad, CEO at Nucleus Software, made no mention about this decline, but says the firm is “beginning to see changes” in its “revenue mix”.