Newgen Software and ExactBid Enter Into a Strategic Partnership for Unified Data Availability to Lenders

Newgen Software Inc., a global provider of banking software solutions, is pleased to announce the successful integration of its Business Process Management (BPM) based Commercial Lending automation solution with Real Estate Information Management System (RIMS) from ExactBid. Users will be able to leverage the capabilities of RIMS for Appraisal Management, seamlessly eliminate multiple touch points, reduce wastage of resources, and control data quality.

“Newgen is well recognized for their expertise within the marketplace and we could not be more excited for what this means for our industry,” CEO of ExactBid, Matt Cotter. “The integration between Newgen and RIMS provides another layer of efficiency for our customers to optimize their workflows and reduce loan to close times.”

Anand Raman, VP, Sales and Marketing, Newgen Software Inc. said, “I would like to welcome ExactBid as our strategic partner. This partnership will enable Newgen’s Commercial Lending Solution users to significantly cut down on data entry tasks. ExactBid’s RIMS seamlessly integrates with Newgen’s Commercial lending solution, paving way for the much-needed ‘Unified Data’ wave in the lending space.”

Newgen’s Commercial lending solution combines its rich domain expertise with industry best practices that is required in a robust commercial lending solution. It automates and streamlines end-to-end lending cycle for the full range of loan types (C&I, CRE, SBA) – from prospecting, credit origination, underwriting, approvals, disbursement and servicing in a paperless and digital-enabled workflow environment. The platform is available both as on-premise and cloud-based delivery models.

About Newgen Software Inc.

Newgen Software Inc. is a global provider in banking process automation with more than 200 leading banks and financial services institutions as its clients. Newgen’s banking process management framework automates critical business processes for banking institutions across commercial lending, consumer lending, customer on-boarding, online account opening, trade finance, digital and mobile customer experience strategy. Newgen offers flexible on-premise and cloud-based solutions to its banking customers.

About ExactBid

ExactBid, , combines the powers of two appraisal management software solutions to streamline complex due diligence processes for both residential and commercial real estate clients. RIMS software focuses on lenders’ due diligence needs, while Narrative1 specializes in time-saving solutions for real estate vendors. Using market leading software and years of experience in the residential and commercial industry, ExactBid empowers customers to improve their businesses.