Nucleus Software Exports shares zoom over 14% after tie-up with Microsoft

Nucleus Software Exports shares gained over 14 per cent in the afternoon trade on the Bombay Stock Exchange (BSE) after the company announced tie-up with Microsoft to deliver cloud-based lending solution globally.

At 12.38 pm, the share price of the company was trading 14.98 per cent higher at Rs 294. It opened at Rs 259.80 and had touched a high and low of Rs 298.80 and 256.70, in trade so far.

Meanwhile, the BSE Sensex was up 116 points, or 0.42 per cent, at 27,674.30.

On BSE, so far 2.83 lakh shares were traded in the counter, compared with an average volume of 81,000 shares in the past two weeks.

Nucleus Software, the leading provider of lending and transaction banking solutions to the global financial services industry, announced its strategic partnership with Microsoft to deliver the latest version of the best-selling lending software in the world, FinnOne Neo, on Microsoft Azure.

The global banking and financial services industry is undergoing a major transformation driven by growing competition and new technology. The growth of cloud technology is emerging as a key driver for change, allowing established players and new competitors alike to respond to customer needs with innovative products and easy availability of services with low overheads. As a result cloud computing services are becoming popular across the banking landscape as they reduce complexity and costs while improving agility for delivering banking solutions.

According to a recent Ovum report, over 60 per cent of the retail banks across the globe are spending between 20-39 per cent of their new IT spending on software-as-a-service; infrastructure-as-a-service and platform-as-a-service for easy access to a range of scalable, cost-effective IT solutions, increased speed to market of new offerings and simplified IT infrastructure with reduced overheads.

Microsoft is the worldwide leader in software, services, devices and solutions that help people and businesses realise their full potential.

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