#Saudi Arabia #Riyadh #Nucleus Software #Saudi Finance #Finnovex Saudi Arabia

Saudi Finance Company and Nucleus Software Celebrate Major Award at Finnovex Saudi Arabia 2025

In a noteworthy achievement for the financial sector, the Saudi Finance Company (SFC) and Nucleus Software were jointly awarded the 'Excellence in Digital Consumer Transformation' at the esteemed Finnovex Saudi Arabia 2025 event. This recognition reflects a decade-long strategic partnership aimed at reshaping financing in the Kingdom of Saudi Arabia.

A Decade of Partnership

Since their collaboration began in 2014, SFC and Nucleus Software have been instrumental in revolutionizing consumer financing across multiple sectors, including automotive, personal, and SME (Small and Medium Enterprises). At the heart of this transformation is the state-of-the-art financing solution, FinnOne™, which has facilitated a myriad of innovations to enhance customer experience, promote financial inclusion, and ensure Shariah compliance.

Key Achievements in Digital Transformation

The award-winning partnership has celebrated several milestones, including:
1. Digitization of the Loan Lifecycle: Streamlining the entire loan process has significantly improved service efficiency, ensuring faster product delivery for consumers.
2. Shariah-Compliant Financing: Their innovative solutions are designed to meet Saudi Arabian Monetary Authority (SAMA) regulations, reinforcing their commitment to ethical finance.
3. Accelerated Fund Disbursements: Automation and integration with ZATCA APIs have expedited the fund disbursal process, allowing for quicker access for clients.
4. Financial Inclusion Initiatives: Unique financing schemes such as 'Guarantor', 'Housewife', 'Buy-Out', and 'Top-Up' have helped expand access to finance for diverse customer segments.
5. Flexible Financing Options: The introduction of short-term financing with customizable repayment plans has catered to varied consumer needs, enhancing satisfaction and accessibility.

Leadership Insights

In reaction to the award, Mr. Bander Al-Samman, CEO of the Saudi Finance Company, expressed gratitude for their fruitful collaboration, stating, "This award not only acknowledges our technological advancements but also highlights the impact we have made in transforming lives through finance. The partnership with Nucleus Software has fundamentally changed the speed and accessibility of consumer financing in the Kingdom."

Echoing these sentiments, Mr. Parag Bhise, CEO of Nucleus Software, emphasized the shared vision that has powered their collaboration. He remarked, "For over ten years, our joint efforts have focused on delivering faster and more inclusive financial solutions while adhering to the highest ethical standards. Winning this award marks a significant milestone in our journey, and we are dedicated to continue pushing the boundaries of digital transformation in the financial services sector."

Conclusion

The 'Excellence in Digital Consumer Transformation' award serves as a testament to the effectiveness and innovation born from the collaboration between the Saudi Finance Company and Nucleus Software. Their commitment to enhancing digital finance points towards a future where the financial ecosystem in Saudi Arabia is ready for the challenges of a changing market, ensuring that all consumers have access to the financial services they need.