DUBAI, UAE, April 15, 2025 /PRNewswire/ —  Nucleus Software, a global leader in digital lending and transaction banking solutions, is pleased to announce its continued collaboration with Deem Finance LLC (“Deem”), a Gargash Group company and a leading consumer finance provider regulated by the UAE Central Bank. As part of this expansion, Deem has selected FinnOne Neo® Collections to accelerate its digital collections transformation and enhance operational efficiency.

This milestone builds on nearly two decades of collaboration between Nucleus Software and Deem, reinforcing their shared commitment to leveraging technology for superior financial services.

Strategic Vision for the Implementation

The deployment of FinnOne Neo® Collections will enable Deem Finance to:

• Leverage AI and Automation: Enhance collections efficiency through AI-driven analytics, intelligent customer engagement, and seamless Auto Dialer integration.
• Achieve Rapid Go-Live: Drive seamless implementation to unlock business value and enhance agility.
• Strengthen Risk Management: Reduce NPAs and optimize delinquency control across consumer and corporate portfolios.
• Enhance Customer Engagement: Deliver a seamless digital experience with personalized interactions and data-driven decision-making.

Chris Taylor, CEO at Deem Finance, added, “Our mission is to continuously evolve and strengthen our digital capabilities to meet the changing needs of our customers. Partnering with Nucleus Software allows us to integrate advanced AI-driven collections strategies that enhance operational efficiency while providing a seamless experience for our customers. This initiative aligns with our vision of leveraging technology to drive financial empowerment and long-term customer trust.”

Vishnu R. Dusad, Managing Director & Co-founder at Nucleus Software, stated, “Our longstanding partnership with Deem Finance is a testament to our shared vision of driving digital transformation in the financial sector. By implementing FinnOne Neo® Collections, we are not only enabling Deem Finance to streamline its collections processes but also reinforcing our commitment to equipping financial institutions with future-ready solutions. This collaboration strengthens our footprint in the UAE market and underscores our dedication to delivering AI-driven, customer-centric innovations that drive efficiency and business growth.”

This collaboration reinforces Nucleus Software’s leadership in financial technology, empowering banks and financial institutions with innovative solutions for next-generation lending and collections management.

For more information, visit: https://www.nucleussoftware.com/ 

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• In preparation of the IPO of their retail division, Lulu Group needed to divest two business units from the main system to two separate target systems
• SNP ensured a smooth execution of the project ahead of time, within budget and with minimal downtime
• Lulu Group subsequently selected SNP to spearhead their upcoming migration to SAP S/4HANA

HEIDELBERG, Germany and DUBAI, UAE, April 15, 2025 /PRNewswire/ — SNP SE, a leading software provider for digital transformation, automated data migration, and data management in SAP environments, supported Lulu Group, the largest full-line retailer across the Gulf Cooperation Council (GCC), with a crucial data transformation project in preparation of their IPO: The selective data migration and segregation of the UAE non-retail, India and Egypt business units and company codes from the main SAP ECC production system, migrating them into two separate target systems. The partners were able to complete this highly critical carveout endeavor two weeks ahead of schedule without any slippages to schedule or costs. Following the success of this crucial data migration project SNP has been selected as Lulu Group’s strategic partner of choice for their upcoming SAP S/4HANA transformation project.

• Picture available at Presseportal –

Successful carveout enabling a successful IPO

Headquartered in Abu Dhabi, United Arab Emirates, Lulu Retail is the region’s largest full-line retailer with a strong omni-channel presence in the form of both physical stores and e-commerce. In their carveout venture, Lulu Retail and SNP had to tackle some challenges common to retail companies: large database size, time to market, speed and agility. Moreover, auditable, verifiable data segregation and data validation were of the essence with regard to the nearing IPO of Lulu Retail. The successful execution of the project can be attributed to the collaborative team efforts between Lulu, SNP, AWS & Redington, and the Bluefield approach for selective data migration powered by SNP’s CrystalBridge software. Automating and accelerating multiple complex projects resulted in just one single go-live with a minimized downtime of less than 48 hours at minimal cost and risk. The software automation approach delivered business benefits right away: faster return on investment (ROI), increased business continuity, agility, lower total cost of ownership, improved governance and compliance. Furthermore, Lulu Retail were able to successfully execute their IPO plans in the UAE market.

Anish Mohamed, Group CIO at Lulu says: “SNP has demonstrated the ability to be a highly reliable SAP transformation partner. The volume of this selective data migration amounted to about 20% of the 6 terabytes sized database. Our joint success fueled our trust in the expertise of SNP to cope with very complex data transformations and large data volumes in a timely manner. This makes us even more excited about tackling the move to SAP S/4HANA together and we are already planning this upcoming project.”

Ravi Mahalingam, Managing Director of SNP Middle East, adds: “We support companies like Lulu in tackling both current and future challenges by optimizing their IT systems and business processes, helping them strengthen their market position. Our software platform ensured a fast, secure transformation journey for Lulu, from system analysis to seamless data migration and management.”

About SNP

SNP (SHF: DE) is the global technology platform leader and trusted partner for companies seeking unparalleled data-enabled transformation capabilities and business agility. SNP’s Kyano platform integrates all necessary capabilities and partner offerings to provide a comprehensive software-based experience in data migration and management. Combined with the BLUEFIELD approach, Kyano sets a comprehensive industry standard for restructuring and modernizing SAP-centric IT landscapes faster and more securely while harnessing data-driven innovations.

The company works with more than 3,000 customers of all sizes and in all industries in 80 countries, including 20 of the DAX 40 and more than 100 of the Fortune 500. The SNP Group has around 1,600 employees worldwide at over 35 locations in 20 countries. The company is headquartered in Heidelberg, Germany, and generated revenues of € 254.8 million in the 2024 fiscal year.

More information is available at www.snpgroup.com

Press Contact at SNP

Paola Krauss 
Mobile: +49 172 72 95 928 
Email: paola.krauss@snpgroup.co

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DUBAI, UAE, April 15, 2025 /PRNewswire/ — PayPal, a global digital payments and commerce platform, today announced a strategic partnership with TerraPay, a leading global money movement company, to enable real-time fund transfers for PayPal customers across the Middle East and Africa. This partnership aims to drive economic growth by making cross-border transactions faster, easy to use and more accessible by connecting banks, mobile wallets, and financial institutions.

According to Mordor Intelligence¹, the MENA digital payments market is estimated at $251.34 billion USD in 2025, and is expected to reach $422.56 billion USD by 2030. With rising demand for fast, secure, and efficient payment solutions, this partnership bridges key gaps in financial connectivity and infrastructure readiness, enabling millions of individuals and businesses to engage more fully in the global economy. Through secure PayPal account linking, TerraPay will serve as an enabler, allowing mobile wallet and bank users across the Middle East and Africa to seamlessly transfer funds to their PayPal accounts..

“The Middle East and Africa are at the forefront of the digital transformation, yet financial barriers still limit growth for many,” said Otto Williams, Senior Vice President, Regional Head and General Manager, Middle East and Africa, at PayPal. “At PayPal, we’re committed to changing that. By partnering with TerraPay, we’re making it easier for businesses and individuals to make cross-border transactions, quickly, securely, and without friction. Together, we’re helping unlock economic opportunity and build a more connected, inclusive financial future for the Middle East and Africa region.”

This collaboration will provide enhanced accessibility for customers by facilitating:

• Secure account linking and seamless fund transfers from mobile wallets and bank accounts with PayPal.
• Expanded financial connectivity, empowering millions of customers to transact internationally with ease.
• Greater financial inclusion, enabling businesses and individuals to participate more effectively in the global digital economy.

“Our mission at TerraPay is to create a world where digital transactions are effortless, secure, and accessible to all,” said Ani Sane, Co-Founder and Chief Business Officer at TerraPay. “This partnership with PayPal marks a major milestone in expanding financial access across the Middle East and Africa, where our strong global infrastructure, helps overcome the limitations of traditional banking. With built-in interoperability, TerraPay connects various financial systems, from banks to mobile wallets, making it easier for businesses to scale and users to transact seamlessly on a global scale. Together, we are driving a new era of digital payments.”

As the demand for cross-border payments continues to grow across the region, PayPal and TerraPay remain committed to delivering innovative, secure, and convenient financial solutions that empower businesses and individuals to thrive in an increasingly connected world.

About PayPal 

PayPal has been revolutionizing commerce globally for more than 25 years. The company creates innovative experiences that make moving money, selling, and shopping simple, personalized, and secure. PayPal empowers consumers and businesses in approximately 200 markets to join and thrive in the global economy. For more information, visit https://www.paypal.com, https://about.pypl.com/ and https://investor.pypl.com/.

About TerraPay

TerraPay simplifies global money movement, providing a single connection to one of the most expansive cross-border payment networks regulated in over 30 global markets. The platform enables payments to 144+ receiving countries, 210+ sending countries, over 3.7 billion mobile wallets, 7.5 billion bank accounts, and more than 12 billion cards. TerraPay is on a mission to create a borderless financial world, making money transfers instant, reliable, transparent, and fully compliant.

¹ https://www.mordorintelligence.com/industry-reports/middle-east-and-north-africa-digital-payments-market 

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