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March 5, 2009

SBI goes live on Nucleus Software’s cash management product

Replaces its payments and collections modules with Cash@Will

By CBR Staff Writer

State Bank of India has gone live on Nucleus Software Exports’s Cash@Will, a cash management product for managing cash flow, across corporate accounts group divisions at over 300 branches.

Cash@Will will help the bank in managing its government clients better and also to improve revenue, maximize profits, optimize costs, and establish efficient management systems to accelerate growth, said Nucleus Software.

State Bank of India (SBI) is using its Cash@Will for drafts, income tax refund orders, multi-city check and collections services. The implementation was done in a phased manner where payments and collections modules implemented initially were subsequently replaced by the newer version of Cash@Will. Nucleus’s Cash@Will will power the cash management product of SBI. It supports the bank in handling of government business like ITRO, SBI rights issue, said Nucleus Software.

Vishnu Dusad, CEO and managing director of Nucleus Software Exports, said: We are proud to be associated with the largest bank in the Indian subcontinent and are confident that SBI will reap great benefits by leveraging our cash management solution. We look forward to further strengthening our relationship with SBI as they expand their business rapidly across the corporate and public sector and are exploring newer technologies to stay ahead in the market.

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