Digital. Dynamic. Dependable.
Student Account Opening Solution
With streamlined digital onboarding, real-time compliance checks, and a mobile-first experience, we help banks open accounts faster while ensuring documentation accuracy. By leveraging automation and data-driven insights, banks can reduce operational costs and drive sustainable growth in the student demographic.
“With Newgen’s Student Account Opening Solution, we saw a 70% reduction in account setup time and a 90% improvement in documentation accuracy. This has transformed how we engage with students and driven significant cost savings, enhancing both efficiency and satisfaction.”
Head of Online Accounts, Leading Indian Bank
Learn what Newgen’s Student Account Solution can do for you
Accelerated Onboarding
Enable quick and hassle-free account setup with automated workflows and digital processes. Students can open accounts in minutes, eliminating the need for lengthy paperwork and manual verifications.
Omnichannel Experience
Cater to tech-savvy students with mobile-first and web-friendly interfaces. Offer seamless access to account opening services across multiple channels, ensuring flexibility and convenience.
Secure and Compliant Processes
Simplify KYC and AML compliance with automated verification and fraud detection mechanisms. Ensure a secure environment for students and safeguard sensitive data with robust encryption.
Personalized Engagement and Offers
Engage students with tailored financial products such as education loans, debit cards, and savings schemes. Use integrated analytics to recommend personalized offers that align with their financial needs.
Accelerated Onboarding
Enable quick and hassle-free account setup with automated workflows and digital processes. Students can open accounts in minutes, eliminating the need for lengthy paperwork and manual verifications.
Omnichannel Experience
Cater to tech-savvy students with mobile-first and web-friendly interfaces. Offer seamless access to account opening services across multiple channels, ensuring flexibility and convenience.
Secure and Compliant Processes
Simplify KYC and AML compliance with automated verification and fraud detection mechanisms. Ensure a secure environment for students and safeguard sensitive data with robust encryption.
Personalized Engagement and Offers
Engage students with tailored financial products such as education loans, debit cards, and savings schemes. Use integrated analytics to recommend personalized offers that align with their financial needs.
Customers
Prebuilt Connectors & APIs
Benefits of Newgen’s Student Account Solution
- 5x average volume increase to deliver increased business throughput
- 2x increase in channel efficiency and 3x increase in cross-sell and up-sell opportunities
- 3x decrease in fall-out rate, 80% decrease in incomplete application ratio and 5x increase in pull-through rate for effective funnel conversion.
- 80% decrease in average cycle time and 80% decrease in manual cost
- 50% average increase in digital channel throughput, 90% decrease in cart abandonment rate and improvement in STP and near STP cases.
- Seamless integration, scalable solution with a single unified platform using a future-proof technology
- 60% Reduction in Document Processing Time using NewgenONE intelligent document capture and automated indexing offering.
- 100% Adherence to Lending Compliance Standards
Find Your Winning Strategy with Newgen
Request a demo to explore our solutions for seamless student onboarding, mobile-first account opening, and automated
compliance processes.
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