Case Study

A Leading Middle Eastern Bank Modernizes its Commercial Loan Origination Process with Newgen

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About the Client

The client is one of the leading Islamic banks in the Middle East. It offers a full range of financial products and services, including business finance products, retail banking products, and investment products.

The Operational Bottlenecks

The bank was looking to streamline its end-to- end commercial lending process for a seamless loan process. However, the lack of a unified commercial lending solution was adversely impacting the bank’s processes. The bank faced various difficulties in managing the high influx of requests. Due to the complexities involved in processing loans using the existing system, the turnaround time (TAT) was really high.

The bank wanted to overcome lengthy loan origination process without compromising on Sharia regulatory compliance. It realized the importance of keeping customers happily  engaged digitally and harnessing technology for offering a seamless digital experience.

The Bank Digitally Transformed its Commercial Loan Origination Process

The bank was looking for a technology partner to unify complete commercial loan offerings on a centralized platform and maximize operational efficiencies.

The bank used Newgen’s commercial loan origination solution to optimize its process. The implemented solution, built on intelligent process automation (BPM), has streamlined the bank’s end-to-end processing of commercial loans, from initiating, sanctioning, storing to archiving documents.

With Newgen-deployed solution, the bank responds much faster to credit requests while minimizing operational expenses, risks, and loan default rates. It is better placed to mitigate all sorts of risks associated with commercial loans by using the in-built smart risk calculators. Further, it ensures paperless processing of credit applications in an electronically driven workflow environment, supported by a robust built-in document management system.

Key Highlights of the Implemented Solution

  • Corporate loan origination system with CBS (T24) integration
  • Business activity monitoring reporting
  • Digital management of customers’ documents
  • Automatic email alerts and notifications
  • Improved Sharia compliance and regulations
  • Instant document uploading
  • Quick credit approvals processing
  • Seamless integration with the core system
  • Intuitive and user-friendly interface
  • Auto-reports generation with case tracking
  • Multilingual documents generation, namely English, Arabic, etc.
  • Enterprise-grade security
  • Improved SLAs and customer servicing
  • No duplicity in the customer’s data