One of the Largest Banks in the UAE Streamlines Onboarding and Lending Process with Newgen

Overview

Our customer—the second largest bank in the MENA region—is a recognized global leader by market capitalization with the highest combined credit rating and assets. It offers an extensive range of tailor-made solutions, products and services, ensuring a customized banking experience.

Due to the lack of standardized processes, the bank’s day-to-day operations relied heavily on legacy systems, leading to manual double data entry, operational inefficiencies, soaring costs, and departmental silos. As a result, the bank partnered with Newgen as its technology partner to streamline its lending and onboarding processes.

How Newgen Made a Difference

Newgen’s Small and Medium Enterprise (SME) Lending and Service Request Management (SRM) solution was deployed to automate and digitize the end-to-end onboarding and lending process. The solution enabled the bank to improve its day-to-day operations, minimize business risk, and integrate seamlessly with the core banking system.

Read the complete success story to understand how the implemented solution, combined with the features of SME and SRM empowered the bank to achieve notable business benefits including, minimized costs, maximized operational efficiency, and faster turnaround time.