FY 2023-2024 has been a momentous year ?n many respects. The financial
Services ?ndustry has undergone and contin?es to undergo rapid transformation driven by
technological advancements, regulatory changes and shifting customer expectations. Despite
the complexities, our company has demonstrated resilience and agility, adapting swiftly to
changing market dynamics while staying true to our core val?es and visi?n. I believe
Nucleus is well-positioned to leverage, as well as enable such transformations. In the
last year, we have effected bold changes to help serve our customers better and have set
the bar high.
Excellence is not merely a standard but a way of lite in delivering
products, maintaining robust risk management or building trust and confidence in the
financial ecosystem. Through targeted initiatives, partnerships with community
organizations, and the development of inclusive financial products, we are empowering
individu?is and businesses to access financial Services, build financial resilience, and
achieve their goals. We are enabling the Banking and Financial Services Industry to
leverage mobile banking, microfinance, and agent banking networks to reach rem?te and
rural areas with limited banking infrastructure. I feel happy to mention that our efforts
in this sphere have been recognized and hailed.
We understand the importance of sustainability and responsible
practices and
have made considerable progress to ensure our products and Solutions
enable green initiatives for our customers aligning financial performance with social and
environmental impact. We aim to do so to the standards of the best in the world, enabling
a positive change to build a greener, more resilient world for generations to come.
Our commitment to sustainability is integral to our long-term business
strategy, risk management framework, and stakeholder valu? creation. We are excited about
the positive impact we can collectively achieve as we continu? on this green finance
journey. Green finance is not just about mitigating risks; it is also about seizing
opportunities for sustainable growth. We actively collaborate with clients, partners, and
regulators to develop innovative financial products and Services that promote
sustainability, resilience, and long-term valu? creation. Our goal is to empower
businesses and communities to thrive in a sustainable manner.
I extend my sincere gratitude to our dedicated team, whose passion,
expertise, and dedication drive our sustainability initiatives forward. I also thank our
clients, partners, regulators, and shareholders for their trust, collaboration, and shared
commitment to a sustainable future.
MD's Message
Nucleus ?s entering a new phase ?n ?ts history, that of economic
?nternationalization. Nucleus ?s expanding ?ts operations driven by a strategic visi?n
to tap deeper into global opportunities, diversify revenue streams, and establish a
stronger foothold in key economic regions worldwide. Nucleus has grown, in terms of its
strengths, its beliefs, ?ts global reach impacting millions of lives daily! After 34
years at the helm, weathering the storms from the frontline, it is a source of great joy
to see the company's visi?n being accomplished. Supported by the strength of its people
and spirit of innovation, our company has endured all challenges thrown at it and has
emerged a leader ?n a niche and extremely critical space - the financial Services
technology industry. With presence in all the major markets, and an intelligent portfolio
of end-to-end produc?s evolved and nurtured for the financial Services industry over
three decades, backed by innovation and domain expertise, we satisfy all our customers'
diverse needs and aspirations, earning their trust and loyalty.
This holds a vital place in our ethos.
Our dream for Financial Inclusi?n has taken great shape. We are
dedicated to this cause and prepared to seize all strategic opportunities, driven by the
goal of making INR100 loan possible and profitable for the unbanked. We have every
confidence in the future of this goal and are going full steam to make it possible across
countries that look to technology to combat 'Cost of Cash' in order to achieve this dream.
India's Digital Public Infrastructure development and the digital
literacy programs are being given a sustained focus by the
government of India. This has resulted in the exponential growth and
success of UPI. With broadband connectivity to rural and rem?te areas across India,
enhanced digital security, and fostering a conducive regulatory environment for digital
growth, we are confident we will be able to completely eradicate in due course the obscene
?nterest levels that still exist at grassroot level. Supported by the imagination and
commitment of our innovative and very talented people, the government and our partners,
our adventure in Financial Inclusi?n contin?es.
Our produc?s and Services underwent a metamorphosis to meet the vast
diversity of needs of a new generation of consumers. With new tools, new methodologies and
new approaches we have stayed relevant and ahead of the technology curve. Kaizen and
Continuous Improvement are the on-going themes that make this possible while continuing to
develop Nucleites to leverage their full potential.
Ethics are at the heart of our commitments, and our shared val?es are
the linchpin to ?ts drive and ingenuity. With solid forward-looking governance, aligned
to green finance, we have taken measures to ensure our produc?s and Services enable
sustainable and responsible lending practices for Fls, empowering them to reduce their
global carb?n footprint considerably. We are geared for the technology of tomorrow which
will be responsible, autonomous, transparent and instant. I look forward to your support
in this interesting phase, our metamorphic journey, where we create a solid bedrock for
the next growth cycle.
CEO's Message
I am pleased to present our company's annual report for the fiscal year
23-24, showcasing our ongoing efforts to create meaningful impact across various spheres
of influence.
This year has been marked by significant achievements, unprecedented
global challenges, and growth. Nucleus has demonstrated steadfastness, resillence, and
adaptabllity ?n our commltment to fosterlng customer loyalty and dellverlng exceptlonal
valu? to all stakeholders. We embrace technology as a thoughtful enabler, leveraglng data
Science, analytics, artificial ?ntelligence, data automatlon, open flnance strategy,
chatbots and digital platforms to create seamless and ?ntultlve customer experlences.
Throughout the past year, our focus has remalned on prlorltlzlng customer satlsfactlon and
loyalty, recognlzlng that loyalty ?s earned through conslstent valu? delivery.
Innovatlon remalns at the core of our buslness strategy and acts as a
catalyst for meaningful Impact. We have contlnued to ?nvest ?n research and development
to achleve ground-breaklng results, whether it be through our Contlnuous Integraron and
Contlnuous Delivery (CICD) Deployment, Acceptance Test Driven Development (ATDD) Adoptlon
or through our Product GA Release Cycles that are closely allgned to customer prlorltles
& market needs and continu? to focus on enhanclng the robustness, quallty and
securlty of our produc?s. All these ?nltlatlves enable us to dellver what our customers
need and deserve.
Our commltment to Innovatlon extends beyond understandlng and meetlng
the evolvlng needs of our customers to address real-world problems that extend beyond
flnanclal returns. We keep the spotllght on the end customer, the consumers of flnanclal
Services, by understandlng thelr trendlng expectatlons and catering to thelr dynamlc
demands, both technlcally and functlonally. At the heart of our mlsslon ?s a deep-rooted
commltment to creatlng a posltlve Impact on soclety, the envlronment, and the Uves of the
people we touch. Our dedication to sustalnability has deepened wlth inltlatives almed at
reduclng our envlronmental footprlnt and contrlbutlng positlvely to the communltles we
serve. Our commltment to ethlcal buslness practlces underscores our responslblllty to
stakeholders and future generatlons.
Our success ?s a testament to the dedication of our employees whose
hard work and ?nnovatlve splrlt drlve our company forward. Together we have overe?me
obstacles, selzed opportunltles laylng a foundatlon for future success. I am exclted about
the journey ahead and the posslbllltles that lie before us.
We remam optimlstic about the opportunltles ?n BFSI and are well
posltloned to capltallze on emerglng trends and market dynamlcs. As we look to the future,
we remam steadfast ?n our dedication to enhanclng customer experlences, drlvlng
Innovatlon, and malntalnlng the hlghest standards of quallty and Service. Thank you for
your contlnued support, trust, and partnershlp. Together, we wlll continu? to Inn?vate,
grow, and create valu? for all.