A Leading Caribbean Financial Group Transforms Customer Experience Through Newgen’s Retail Loan Processing Solution

About the customer

The customer is a leading financial services provider in the Caribbean that is currently partnered with 412,000 organizations across Jamaica, Trinidad and Tobago, and Dominican Republic. It offers an array of financial solutions and services ranging from banking, investments, insurance brokering, and remittances.

Growth Barriers

The customer faced multiple challenges in the loan origination process, including error-prone documentation, compliance risks, high operational cost, and poor customer experience. They were seeking a solution to automate and bring efficiency and agility to the loan processes.

Solution Highlights

Newgen proposed its retail loan processing solution to address the bank’s current and future requirements.

• Loan Initiation System
• Loan Processing
• Approval Workflow
• Exception Handling
• CRM Integration
• Monitoring TAT
• Compliance Management

Implementation Impact

• Decreased operation cost by 70-80%
• Improved process capacity by 70-80%
• Achieve TAT improvement of 75-80%

Download the case study to explore the benefits and impact of our retail loan origination solution