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Discover how Newgen modernized retail lending processes for an established financial institution in India with a history spanning over 110 years. Excessive reliance on manual underwriting and document-intense loan processing led to extended turnaround times. The bank was in dire need of a digital transformation to improve customer experience and business volume.

How Newgen Addressed the Challenges

The bank streamlined its loan origination process by deploying Newgen’s Retail Loan Origination Solution (RLOS) and Enterprise Content Management (ECM) platform. The digital automation was supported by Newgen’s low-code platform for Intelligent Process Automation (BPM). The implementation showed the following results:

  • Expedited the loan disbursement process from 3-4 days to about 8 hours
  • Increase in daily transactions led to the disbursal of 2,040 loans in 3 months
  • The bank witnessed an impressive 20% YOY growth in the loan book size

Read the complete case study to understand how Newgen redefined the future of retail lending and set new benchmarks for customer service.

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