New lendtech deal for Nucleus Software in South Africa

New lendtech deal for Nucleus Software in South Africa

Atlas Finance, a microfinance lender in South Africa, has signed for Nucleus Lending Analytics from India-based lendtech vendor Nucleus Software.

The vendor says the solution will help Atlas Finance “leverage the insights provided by its data to make faster, more informed lending decisions”.

Atlas Finance has 500,000 customers and a network of 160+ branches in South Africa. It aims to “help customers achieve their goals by providing them with loans responsibly, building their trust by serving them with dignity, respect and sincerity”.

The company was looking to reduce its non-performing loans and improve customer experience by making the onboarding process faster and more efficient (by processing loan applications in real-time), explains Jack Halfton, CEO of Atlas Finance. It also needed a solution that could “easily integrate” into its technology landscape, he adds.

The vendor says its Nucleus Lending Analytics was chosen following “a rigorous evaluation of the leading solutions available in the global marketplace”, due to its “unique combination of product capabilities and system flexibility”.

Vishnu R Dusad, CEO of Nucleus, says his company has 18 clients across Africa today. In South Africa, these include Capital Harvest, which specialises in agribusiness financing, and Ubank (formerly Teba Bank), a microfinance bank for the mining industry workers and lower income blue-collar workers.