Customers on the doorstep
According to Sumit Arora, Nucleus Software’s manager of European development activities, the credit crunch has only increased demand for the company’s lending and cash management banking software solutions. The crisis, after all, proved to many institutions that improvements were urgently needed. “The financial sector in Europe is leading the way in modifying or replacing its systems to achieve centralisation and reduce operational and IT costs,” explains Arora.
He is quick to add that Nucleus Software has also gained from its presence in the Amsterdam Metropolitan Area. "The fact that your office is literally sitting on the doorstep of some of Europe’s biggest financial institutions, and that you get to know their business from up close, makes it considerably easier to maintain ties and eventually secure contracts,” he says.
Product-led approach
Nucleus Software ranks amongst the most promising Indian ICT companies with its distinctive and international profile. Arora explains: “Where most Indian software companies have taken the services route to growth, Nucleus chose to take a product-led approach and be a strong player in its niche area by creating Intellectual property.”
The company’s profitable flagship products are the bestselling FinnOne, a complete lending solution, and Cash@will, a product for cash management. These two applications are designed for use in every conceivable economic and financial system. They are fairly easy to integrate with existing software systems and are highly flexible.
‘Little India’ gets bigger
Early successes with such products have led Nucleus Software to expand its operations in Europe from its base in Amsterdam. “The companies here, like us, place less of a focus on scale, and more on innovation,” says Arora. “Amsterdam has quite a reputation in that regard. It was here that the world’s first stock exchange was created. All the major financial players have offices here. That alone makes it interesting for our company.”
Another important factor in Nucleus Software’s commitment to the Amsterdam Metropolitan Area is its attractiveness to expats as a place to live. The Netherlands’ knowledge migrant scheme and 30% tax ruling benefit expats like Arora. Meanwhile, in under 4 years, the number of Indian businesses in the Amsterdam Metropolitan Area has quadrupled to 55. Almost 4,000 Indian expats now live here. There’s an annual cricket competition and an Indian film event, and an Indian school is planned. “Little India is here to stay,” smiles Arora.
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