With a vision to become the ‘Best Bank in the Gulf’ by making banking instant and easy, BankDhofar has unraveled another innovation in the regional banking industry through automation of all core processes across all its branches in Oman. This development is in line with the ongoing digital transformation efforts at the bank to enrich customer experience through a faster and more convenient service delivery.
Speaking on the program, Dr. Tariq Taha, Assistant General Manager & Chief Information Officer at BankDhofar said, “Earlier, despite our customer-centric efforts, we were facing a few challenges in achieving service excellence. The challenges included complexity in establishing financial credibility of a prospect, limited process visibility, inadequate SLA monitoring, lack of control over manual processes, and the lack of effective document management.” He added, “Adoption of this remarkable technology from Newgen Software has helped us to overcome previous challenges and redefine engagement with our customers with faster response times and service differentiation.”
Following their ‘best customer experience’ approach, the bank has streamlined all key processes across all branches. This large initiative involved automation of Account Opening, Personal & Corporate Lending, Trade Finance and Credit Card approval processes on Newgen’s BPM (Business Process Management) platform. BankDhofar has also done away with the bulky paperwork of KYC documents, loan/credit card applications and supporting documents. For achieving a paperless environment, the bank has digitized all the paperwork in a centralized repository using Newgen’s ECM (Enterprise Content Management) suite. Newgen’s robust ECM allows an easy index-based document retrieval through a secure, rights-defined access.
Mr. Diwakar Nigam, MD and CEO – Newgen Software, sharing his views on the implementation, remarked, “We are proud to partner with BankDhofar in their endeavor to offer a hassle-free, faster service delivery to customers. I am confident that Newgen’s robust technology together with BankDhofar’s commitment to offer the best-in-class customer services is a step towards transforming the banking practices in the Gulf.”
By implementing Newgen’s integrated solution comprising Enterprise Scanning, ECM Framework and BAM (Business Activity Monitoring) compatible BPM platform, the bank has created an efficient document management system with an agile workflow. This has resulted in real-time process monitoring, improved efficiencies, reduced costs, faster turn-around times, better SLA adherence and a lot of happy customers for the bank.