Nucleus Software has successfully launched its FinnOne Neo® platform at MB Bank in Vietnam, marking a significant milestone in the company's international expansion strategy. This implementation represents a major achievement for the banking technology provider in the Southeast Asian market.

Platform Implementation Details

The FinnOne Neo® platform has been specifically deployed to transform MB Bank's debt management and collection processes. The implementation focuses on streamlining critical banking operations while enhancing overall system efficiency.

Operational Benefits and Enhancements

The successful launch of FinnOne Neo® at MB Bank delivers multiple operational advantages:

• Enhanced Debt Management: Streamlined processes for better debt tracking and management
• Improved Collection Processes: More efficient collection mechanisms and workflows
• Increased Operational Efficiency: Optimized banking operations through advanced technology integration
• Better Customer Satisfaction: Enhanced service delivery leading to improved customer experience

Strategic Market Expansion

This deployment strengthens Nucleus Software's presence in the Vietnamese banking sector and demonstrates the company's capability to serve international financial institutions. The successful implementation at MB Bank showcases the adaptability and effectiveness of the FinnOne Neo® platform in diverse banking environments.

The launch represents the company's continued commitment to providing comprehensive banking technology solutions that address specific operational challenges faced by financial institutions across different markets.

Nucleus Software Exports Limited has taken decisive action against an employee found guilty of insider trading, following a Securities and Exchange Board of India (SEBI) adjudication order. The company terminated the employment of Nitin Kumar Garg and forfeited his gratuity after he was found to have violated the SEBI (Prohibition of Insider Trading) Regulations, 2015.

Details of the Violation

According to the SEBI order, Garg, who held the position of Project Manager in the Global Customer Success Team, engaged in illegal trading of the company's shares. The specifics of the trades are as follows:

These transactions were found to be in violation of Regulation 3(1) of the PIT Regulations, read with section 12A(e) of the SEBI Act.

Company's Response

Nucleus Software Exports Limited's board of directors convened on November 8 to address the issue. The company took the following actions:

1. Terminated Nitin Kumar Garg's employment due to:

   • Violation of the company's "Code of Conduct for prevention of Insider Trading"
   • Misconduct
   • Moral turpitude arising from insider trading activities during his employment

2. Forfeited Garg's gratuity

The company stated that these measures were taken to address the violation and discourage future instances of insider trading by employees or their immediate relatives who may have access to unpublished price-sensitive information.

Investigation and Reporting Process

The company's management informed the board about the SEBI Adjudication Order on September 24. Following the board's advice, an external legal firm was appointed to conduct an inquiry into Garg's activities. The investigation report was presented to the Audit Committee on November 8, and the committee's recommendations were subsequently placed before the Board of Directors on the same day.

Regulatory Compliance

In compliance with SEBI regulations, Nucleus Software Exports Limited has filed the required disclosure under the SEBI (Prohibition of Insider Trading) Regulations, 2015. The company emphasized its zero-tolerance policy for any violations of the Code of Conduct or SEBI PIT Regulations.

This incident serves as a reminder of the importance of maintaining ethical standards and complying with regulatory requirements in the financial markets. It also highlights the serious consequences that individuals may face for engaging in insider trading activities.