Nucleus Software launches FinnAxia 7.0

Nucleus Software, India based banking and financial sector software company, has launched the latest version of its transaction banking software solution FinnAxia 7.0. This software helps banks open virtual accounts for corporate customers. The latest version will allow for the expansion of virtual accounts, which can replace real current accounts and transfer payments to a linked master account.

FinnAxia VAM will let banks centralize accounts, allowing transparency and more control over liquidity positions, which can help with better decision making. This software will help streamline the number of accounts available overall which will make the corporate accounts receivable (AR) process easier for customers.

“We see the Nucleus as a trusted advisor and partner for our banking customers. We strive to continuously keep enhancing our FinnAxia product based on valuable inputs and use cases from our customers as they, in turn, embark on their digitization journey to offer a superior experience to their Corporate and SME customers,” said Global Head of Transaction Banking and Digitization Business at Nucleus Software Harshit H Jain.

According to the company, the software service promises faster identification for pay recipients, a reduction in errors for settlements, fewer days with pending sales, and better capital management. The software offers the flexibility for companies to aggregate, segregate and put data in order, due to the reduction in physical bank accounts.