Account Opening Process Automation at National Bank of Kenya
Get insights from this case study to learn how National Bank of Kenya transformed its two critical processes-Account Opening and Credit Approval Process
National Bank of Kenya is a major player in Kenya’s banking industry. While the Bank had taken a leading role in the issuance and promotion of modern delivery and payment systems, the bank realized that some of its processes have become obsolete which interfered with the pursuance of its goals. The Bank was looking for a solution to address its pain points and decided to implement Newgen’s Banking Solution.
Bank of Kenya implemented Newgen’s Solution across all its 75 branches and automated 2 critical processes-Account Opening and Credit approval, with the bank successfully processing 477 account opening requests per day and 300 credit approval requests per day.
- 100% increase in process visibility and workflow approval
- 50% reduction in operational expenses
- First-time-right increased by 90%
- Operational efficiency increased by 90%
- 99.9% reduction in error rate