Fintech PR
Nucleus Software Announces Q3 FY 2020 Financial Results, Revenue Grew at 6% YoY
Nucleus Software, the leading provider of lending and transaction banking solutions to the global financial services industry, announced its financial results for the quarter and nine months ended 31st December, 2019.
Consolidated revenue for the third quarter of FY2020 is at Rs. 130.3 crore compared to Rs. 122.9 crore in Q3 of the previous year. Revenue for the first nine months of FY20 is at Rs. 382.6 crore, against Rs. 357.0 in the corresponding nine months of FY19.
Mr. Vishnu R. Dusad (Managing Director, Nucleus Software) said, “Our ongoing investment in the latest technologies, including Artificial Intelligence, Digital and Cloud, continues to add value to our customers’ business. Our market-focused, roadmap-driven approach ensures that our customers can take advantage of those enhancements quickly and easily. During the quarter, we showcased our solutions in a range of markets across the world, including Australia, India, Indonesia, Singapore, Nigeria, and the Philippines. In cloud, we added 7 new customers and we were delighted to win the Best Lending Implementation Award by IBS Intelligence. Our Q3 performance is in line with our expectations and it reflects the continued strength of our business in India and internationally.”
Financial highlights:
Consolidated results for the Quarter ended 31st December, 2019
- Consolidated revenue for the quarter stood at Rs. 130.3 crore in comparison to Rs. 122.9 crore in the corresponding Q3 of the previous year
- Product business revenue for the quarter was at Rs. 103.9 crore in comparison to Rs. 96.7 crore in the corresponding Q3 of the previous year
- EBIDTA for the quarter stood at Rs. 23.4 crore in comparison to Rs. 22.2 crore in the corresponding Q3 of the previous year
- Net Profit after Tax (PAT) stood at Rs. 23.2 crore in comparison to Rs. 20.7 crore in the corresponding Q3 of the previous year
- Earnings Per Share for the quarter is at Rs. 7.99 in comparison to Rs. 7.14 in the corresponding Q3 of the previous year
Consolidated results for the nine months ended 31st December, 2019
- Consolidated revenue stood at Rs. 382.6 crore in comparison to Rs. 357.0 crore in the corresponding nine months of the previous year
- Product business revenue at Rs. 302.4 crore in comparison to Rs. 282.9 crore in the corresponding nine months of the previous year
- EBIDTA stood at Rs. 61.9 crore in comparison to Rs. 63.3 crore in the corresponding nine months of the previous year
- Net Profit after Tax (PAT) stood at Rs. 60.9 crore in comparison to Rs. 57.5 crore in the corresponding nine months of the previous year
- Earnings Per Share at Rs. 20.96 in comparison to Rs. 19.78 in the corresponding nine months of the previous year
Liquidity:
Cash and cash equivalents, including investments in debt schemes of mutual funds, fixed deposits with banks, tax free bonds and preference shares are at Rs. 531.9 crore as on 31st December, 2019, as against Rs. 506.1 crore on 30th September, 2019.
Business Highlights:
- Gained 7 new customers for FinnOne Neo Cloud in India
- Won 9 new product orders and added 8 new customers worldwide, during the quarter
- 9 product module implementations successfully went live across the globe
- Appointed Prakash Purushottam Pai as Chief Evangelist Officer
- Won the IBS Intelligence FinTech Innovation Award for ‘Best Lending Implementation of FinnOne Neo’ with Roha Housing Finance
- Organized a roundtable in association with Dun & Bradstreet for the Banks & NBFCs, on ‘Co-origination in Lending – The way forward’ in Mumbai
- Demonstrated insights on how the company helps leading organizations drive innovation at Vietnam Retail Banking Forum 2019 in Vietnam
- Organized an industry roundtable for Banks & NBFCs on ‘Profiting from digital in lending with cloud’ in Mumbai
- Hosted an industry round table for Banks & NBFCs on ‘The Road Ahead for Corporate Lending’ in Lagos
- Addressed the Mortgage Loans Innovation Conference in Singapore on ‘Transforming Lending for Tomorrow – Going Beyond digital’
- Presented insights on how FinnOne Neo is helping banks and other financial services companies drive innovation in lending at the BFSI Innovation Summit 2019 in Indonesia
- The global strength of employees at Nucleus Software as on December 31st 2019 stands at 2125
SOURCE Nucleus Software
Fintech PR
Protecht launches advanced controls management solution
SYDNEY, Nov. 25, 2024 /PRNewswire/ — Protecht Group, a global leader in enterprise risk management solutions, has released its innovative controls management solution. This cutting-edge tool empowers organizations to design, implement, and maintain a robust controls framework, streamlining compliance and enhancing operational efficiency.
Protecht’s controls management solution addresses the challenges faced by risk and compliance leaders in managing controls across complex regulatory environments. By integrating controls management into the organization’s broader ERM framework, the solution provides a centralized approach to mitigate risks, achieve compliance, and enable organizations to focus on strategic growth.
As organizations face increasing regulatory pressures, the need for a unified, efficient approach to controls management has never been greater. Many businesses struggle with fragmented processes, duplicated efforts across frameworks, and limited visibility into controls effectiveness. Protecht’s controls management solution simplifies these complexities by providing a single source of truth for controls assurance activities.
Key features of Protecht’s controls management solution
- Centralized controls library: Offers a single repository for all control data, tailored to align with organizational needs and regulatory frameworks.
- Simplified control testing: Streamlines the testing process with pre-built templates, automated scheduling, and real-time tracking of progress and results.
- Framework library: Enables seamless mapping between controls and multiple regulatory standards to eliminate redundancies and simplify compliance efforts.
- Advanced reporting and dashboards: Provides real-time insights into control effectiveness and areas requiring improvement, ensuring confidence in decision-making and risk management strategies.
“Protecht’s Controls Management solution simplifies the way organizations handle compliance and risk assurance,” says Damien Stevens, Chief Product & Marketing Officer at Protecht. “By integrating controls into the broader enterprise risk framework, we provide our customers with the tools they need to mitigate risks, optimize efficiency, and align their control environments with their strategic objectives.”
Supporting resources
To help organizations maximize the benefits of the new solution, Protecht offers a range of resources, including:
- Live webinars showcasing the solution’s capabilities for risk and IT professionals alike
- Product tours showing how the solution lets you solve specific controls-related problems
- A comprehensive eBook on building effective controls frameworks
- Opportunities to book a demo and see the solution in action
Find out more and download a brochure at www.protechtgroup.com/solutions/controls-management
About Protecht Group
Headquartered in Sydney, Australia, with offices in London and Los Angeles, Protecht Group provides innovative risk management solutions, including the Protecht ERM platform. Trusted by organizations across government, financial services, education, and other industries, Protecht empowers businesses to manage risk holistically, transitioning from spreadsheets and manual processes to efficient, integrated systems.
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View original content:https://www.prnewswire.co.uk/news-releases/protecht-launches-advanced-controls-management-solution-302315104.html
Fintech PR
Robert Rahman Joins Dinosaur Group Holdings to Head its New Global Corporate Credit Securities Market Unit in the US, Europe & Asia
NEW YORK, Nov. 25, 2024 /PRNewswire/ — Dinosaur Financial Group LLC. (DFG), a New York based Investment Firm and Dinosaur Merchant Bank Ltd. (DMBL), a London based Institutional Brokerage announced the joining of Robert Rahman as the Global Head of the newly created Global Corporate Credit Securities (GCCS) unit.
Dinosaur Group’s new GCCS initiative seeks to provide clients with an alternative to the bulge bracket that will not compete with clients and seeks to offer those clients, a partner that can deliver reliable and trustworthy execution capabilities in a difficult liquidity backdrop. Robert’s new unit will complement the firm’s existing global footprint in Fixed Income.
Robert will oversee the sales, trading, and research business globally for Corporate Investment Grade, High Yield, Distressed, Stressed, Special Situations, Levered Loans, Re-Org Equities, Trade Claims, Private Credit and Converts within the GCCS unit.
Before Dinosaur, he was the Head of High Yield, Distressed and Loans within the capital markets division of Oppenheimer and Co (OPY) where he worked for the last 16 years. He has also been a senior member of Morgan Stanley’s High Yield sales team and has over 30 years of experience in all aspects of Institutional Credit. Robert started his career as a Credit Analyst within Salmon Brothers revered “Corporate Bond Research” team and at Donaldson, Lufkin & Jenrette’s “Leveraged Finance Research” team.
Announcing his appointment, Glenn Grossman, CEO, Dinosaur Group said, “Robert’s deep client and issuer relationships along with his previous success in leading and building global credit teams will help the group to provide institutional clients with an additional liquidity platform for one stop credit trading across the world. We are very excited to see the new business grow under his leadership.”
Elliot Grossman, Managing Director added, “With Robert’s leadership, the group seeks to help institutional investors by providing capital to help facilitate trades versus being another riskless agency credit shop.”
Speaking about joining the Dinosaur group and his plans for the new business, Robert said, “I was attracted to the group given its established track record of providing client solutions in Fixed Income, globally for the past 25 years. My focus will be to provide institutional investors with an enhanced global liquidity platform for the US, European and Asian markets. I look forward to building this business at DFG.”
He also stated, “Sourcing trading block paper is nuanced and requires deep and long-standing client relationships from the trader, analyst, PM and CIO level. The new team will look to gain Fixed Income clients’ trust, add value and provide liquidity while so many competitors retrench.”
About Dinosaur Group Holdings
Dinosaur Group Holdings (DGH) is the holding company for Dinosaur Financial Group LLC. (DFG), an investment firm registered with the SEC and a member of FINRA and SIPC, Dinosaur Merchant Bank Ltd. (regulated by the FCA) and New York-based SEC-registered investment firm DCM Advisors, LLC.
Deploying a team of approximately 150 professionals, the overall organization provides global execution services, financing and advisory expertise/insights for equities, fixed income, commodities and derivatives, investment management as well as a suite of investment banking services providing financial solutions and capital markets execution to the middle market client base, both domestically and globally. Clients and counterparties spanning six continents are primarily institutions, family offices, asset managers, hedge funds, and corporations. Dinosaur Group takes pride in the business’ stable management, strong compliance, solid operations, and diverse talent.
Photo – https://mma.prnewswire.com/media/2566918/Robert_Rahman.jpg
Logo – https://mma.prnewswire.com/media/2566971/Dinosaur_Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/robert-rahman-joins-dinosaur-group-holdings-to-head-its-new-global-corporate-credit-securities-market-unit-in-the-us-europe–asia-302315687.html
Fintech PR
New GitLaw platform makes creating legal documents free and fast
BIRMINGHAM, England, Nov. 25, 2024 /PRNewswire/ — Each year 32% of small businesses experience a legal issue but only 25% of these are able to access professional help. Of those who did engage lawyers, many had to draw on personal savings just to meet fees. The current legal system is unaffordable with the balance tipped against those without vast financial resources.
GitLaw.co, launching this week, is looking to change that. GitLaw has published hundreds of legal document templates which are entirely free to download or customize through its platform. GitLaw is built by a group of tech entrepreneurs including Nick Holzherr who previously founded Whisk.com, a software platform acquired by Samsung in 2019.
GitLaw’s name is inspired by Git technology and open source software development. This collaborative model allows legal documents to be freely available to use, modify or share, with complete version history transparency. GitLaw’s vision is to create a collaborative open source community for legal documents. GitLaw’s specialized features help users efficiently customize and finalize legal templates. Users can submit templates as well as suggest changes to existing documents, resulting in free community-driven standards for legal documents.
The service is initially targeted at small businesses in the US and UK. “As a startup founder I have first hand experience of having to navigate legal battles without budgets for lawyers and I wish I’d had something like GitLaw – a reliable repository of free legal documents” said Nick Holzherr, one of the founders of GitLaw. “We already have 300 documents that cover key contract types like NDAs (Non Disclosure Agreements), Employment Agreements and Privacy Policies, and we hope the community will continue to provide more documents”. Most of the documents on GitLaw today are created and contributed by reputable law firms, lawyers, investors and organizations.
While the platform targets the 400m global small businesses first, the company has a mission to bring GitLaw to wider audiences. “In the medium term I hope we’ll be able to cover a lot more areas of law like civil law.
Longer term, I can envision GitLaw being used to support the creation of national laws, enabling citizens to contribute, provide feedback, and transparently track every change made to their legislation.” said Holzherr.
GitLaw is free to use and available at www.gitlaw.co
Pictures available at https://gitlaw.co/press
View original content:https://www.prnewswire.co.uk/news-releases/new-gitlaw-platform-makes-creating-legal-documents-free-and-fast-302315630.html
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