Nucleus Software

Nucleus is a software solutions provider to the global banking and financial services sector, headquartered in India. They have been exclusively focused on this sector for 21 years and have developed packaged solutions for two main business lines within the banking sector - lending and cash management. They have received global recognition for their flagship lending solution, FinnOne, which is ranked as the world's number 1 selling lending software application by a leading UK-based banking and technology publisher - IBS (International Banking Systems; www.ibspublishing.com). Having enjoyed significant growth over the last 3 to 5 years, Nucleus now has about 1,600 employees around the world. Currently their main markets are in the Asia Pacific, Middle East and Africa regions, but they have been making steady inroads into the European market from their offices in Amsterdam and London.

Mr Gladwin Thomas of Nucleus told us why his company chose Amsterdam. "There is a strong banking sector in the Netherlands, and we needed to be close to our potential customers. We wanted to establish a local presence so we could drive our strategy from ground level. This has helped us considerably, for example we have established an employee swap scheme with a leading tier 1 Dutch banking institution, which is helping to break down cultural barriers, particularly vital in a global cross-border technology-operating environment. Amsterdam also has an excellent transport infrastructure - it's easy to get to, not just from around Europe but from India as well. "A secondary factor in choosing the Netherlands was the regulatory framework and the fact that the visa/work permit processes are relatively easy. Gladwin went on to say, "The NFIA has been very supportive. There are always challenges when entering a new market, particularly in a new continent. For example, the official language of the immigration services in the Netherlands is Dutch but the NFIA helped enormously with this - they co-ordinated the communications exchange between immigration agencies and the embassy in India. It is a service we don't always experience and it has enabled us to move people without too many problems.

"Nucleus has also found the Netherlands a welcoming place. "The people we have moved to Amsterdam have found it an enjoyable experience in terms of the lifestyle. Culturally, Amsterdam is a very open and welcoming place" says Gladwin. He went on to explain, "Professionally, there are differences in the working cultures of India and Europe but our experience of doing business in the Netherlands has been very positive. We have enjoyed support from a lot of regulatory bodies and agencies in the Netherlands. Dealing with the operational challenges, such as registering a company and finding and setting up an office, has been a seamless process - we have been able to move in quickly and start work."

Explains Sumit Arora, who leads the Business Development Group at Nucleus Software Netherlands B.V., "The 30% ruling (to save taxes) offered by the Government of Netherlands comes as a biggest personal joy to high skilled migrants like me. Dutch people are warm and open, which adds to the charm of working in Amsterdam personally." 

Nucleus Software Netherlands BV was incorporated in 2006 and aggressively started its European operations in late 2008. Nucleus Software is moving into a new facility at the WTC, Amsterdam, from where the company's European operations will be based. "We are now in mode for expansion in Europe and already have order in hand to implement our Flagship Lending Solution FinnOneTM in 26 countries of Europe by an Auto Financing giant (a fortune 500 company). We have also substantially stepped up investments for R&D in our products for our prospective customers in Europe" Sumit adds.

Clearly, Nucleus Software's aggressive steps into Europe have been greatly helped by Amsterdam's internationally oriented environment, which provides great business potential to non-Dutch companies to operate and succeed. 

Source: Mukta; Date: March 2009