Overview
A New York-based bank, focusing on business accounts and lending, is poised to be a leading financial institution committed to delivering premium services and superior customer experience. Being in a growth trajectory in its commercial and industrial, real estate, and small business administration applications, the client was seeking a Commercial Loan Origination solution to manage its rising volume of applications effectively.
Key Challenges
- Legacy systems restricting growth
- High turnaround time for loan approval and disbursement
- Siloed processes leading to lost data
- Lack of tracking and monitoring mechanisms
How Newgen Helped?
Newgen proposed its Commercial Loan Origination Solution to cater to the bank’s growing scale of operations and streamline its processes. The solution helped automate the end-to-end loan application process, and improve compliance and visibility.
Download the case study to know what led to the following impact:
- Better visibility of process status by 75%
- Enhanced monitoring of loan applications by 75%
- Reduced operational cost by 50%
- Reduced manual intervention by 30%