March 07, 2024: Newgen Software announced that Masar Alnumou Finance opted for Newgen’s Retail Banking solution to enhance its personal loan origination process.
With Newgen’s Solution Accelerator for Personal Loans, the company will be able to drastically reduce the time taken to book a loan, bringing it down to just 5 minutes.
On the successful implementation of the solution, Mr. Sultan Al Sharedah, Chief Business Officer at Masar Alnumou Finance, said, ” As one of our main objectives to increase customer satisfaction and provide new solutions to the sector, Newgen has proved to be a strong partner and effectively reduced the human intervention required to process the loans. The excellent business knowledge and consistent team support will help us serve a wider customer base.”
The retail banking team at Newgen worked on the existing loan origination solution, ensuring complete process automation. The loan management system was also revamped, along with portal integrations. Moreover, the company implemented this solution for managing collections of personal loans.
Speaking about the solution, Vivek Bhatnagar, VP of Sales at Newgen Software, said, “We developed the solution with the available integrators, optimizing the resources. Our low-code platform, NewgenONE, and agile approach helped us consider the client’s changing needs. The automation that we attained will enable the bank to disburse personal loans within minutes.”
The solution will support faster business growth for the company across locations. Newgen provides post-production support to ensure a smooth implementation of the solution.
About Masar Alnumou Finance
Masar Finance is built on the foundation of its predecessor, “Deutsche Gulf Finance,” which has played a significant role in the finance sector. As a result of its growth, Masar Alnumou has emerged to offer a range of financial solutions that address customers’ needs.
Moreover, the company is backed by insightful stakeholders with vast experience, a board of directors that oversees business operations and ensures they are aligned with ethical and professional principles, and managers who utilize their expertise to contribute to Masar Alnumou Finance.
About Newgen Software Technologies Ltd.
Newgen is the leading provider of a unified digital transformation platform with native process automation, content services, communication management, and AI/ML. Globally, successful enterprises rely on Newgen’s industry-recognized low-code application platform to develop and deploy complex, content-driven, and customer-engaging business applications. From onboarding to service requests, lending to underwriting, and many use cases across industries, Newgen unlocks simple with speed and agility.
For more details, visit www.newgensoft.com.