Nucleus Software has made an announcement stating that its Indian client, HDFC Bank has bagged the Celent Model Bank 2010 award. The award has been given to the bank for its loan origination system.

Celent had conducted the survey to answer the question, "What would it look like for a bank to do everything right with today's technology?" Celent said in its Model Bank report that, "While there is no such thing as a "Model Bank"-every bank does some things well, and others not as well when it comes to technology".

HDFC Bank has been using FinOne, the award winning product from Nucleus since quite some time. Before implementing FinOne all loan processing activities were done manually which led to longer time required for the process and increased the chances of human error.