The Hindu Business Line : Nucleus Soft eyes Europe

Nucleus Software Exports Ltd is looking at Europe and Japan to expand its business next year. The company provides its technology in the area of retail banking and cash management in geographies such as Asia pacific, West Asia, Europe and Africa.

"Currently, less than 10 per cent of our revenues come from Europe. But we expect it to get doubled over the coming year from this region. While, traditionally significant portion of our revenues come from South and South East Asia, West Asia and Europe, we are now expecting our business to grow from Europe and Japan. General Motors has been our major client in Europe. We are in talks with major auto finance companies in Europe," said Mr Niraj Vedwa, Head of Global Sales and Marketing'.

Mr Vedwa said that Nucleus had recently signed up with two private banks and one nationalised bank, about four major banks in Africa, two in the UAE, two more in Indonesia in the quarter — though, he declined to divulge the names of the new banks. However, he said that revenues accrued from these would be declared only during their quarter ending January 2007.

Nucleus had announced about $8.5 million worth of contract and expects the growth to be higher for this quarter based on new contracts that have been signed. Currently, 80 per cent of the company's revenues come from retail banking and about 20 per cent from cash management software.