Newgen Rewrites the SWIFT Story For a Leading Indian Bank

A public sector bank headquartered in Mumbai, India, with a legacy spanning over a decade, chose Newgen’s AI-first solution to transform its SWIFT message processing. The bank offers a diverse portfolio of products, including retail, corporate, and digital banking solutions across its branches in India and across the world.

Looking for a solution to streamline its trade transactions and centralize its SWIFT processing, it partnered with Newgen and realized a 80-80% reduction in manual processing.

Why SWIFT Turned Slow

• A decentralized SWIFT message routing resulted in non-standardized processing
• Manual email processing caused inaccuracies in interpreting SWIFT message content
• Manual inputs for transaction initiation resulted in delays, higher compliance risks, and data duplication

Newgen’s Intelligent Automation in Action

Newgen implemented its AI-first Intelligent Process Automation (BPM) platform to address the growing complexity and inefficiencies. This solution automated SWIFT data extraction and enabled seamless integration of customer communications.

Measurable Impact at a Glance

• Centralized SWIFT operations from 8000+ branches to a dedicated back office hub
• Accelerated processing by streamlining the trade finance workflow
• Enhanced compliance through full traceability across all operations
• Eliminated redundant data re-entry, boosting data accuracy and communication quality

Download the complete case study to read more about how Newgen rewrote the SWIFT message processing story for the bank.