NIC Bank Transforms Key Processes with Newgen’s BPM Banking Solution
NIC Bank was in the process of expanding their business, but were struggling with a high dependence on manual and paper-based processes. The bank’s expansion strategy was also being hindered by the complexity of the loan approval process and lack of transparency within the organization.
They were looking for a technology that could help them to centralize and digitize their processes. Using Newgen’s business process management (BPM) based solution, specific to the financial services industry, NIC Bank was able to achieve a:
- 99% improvement in compliance and quality
- 90% improvement in the “first-time-right” approach
- 90% increase in productivity
- 50% reduction in operational costs
Download this case study to learn how your financial institution can replicate NIC Bank’s success in digitally transforming their end-to-end processes by partnering with Newgen.