Case Study

Strategic Transformation of NIC Bank’s Key Processes with Newgen’s BPM Based Banking Solution

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NIC Group PLC, is a registered non-operating holding company that oversees NIC Bank Kenya PLC, NIC Bank (Uganda), NIC Bank (Tanzania), NIC Insurance Agents, NIC Securities, NIC Capital and NIC Leasing. The Group employs over 1,000 staff members across its 48 branches in Kenya, Tanzania and Uganda. NIC Group is known for its innovation, customer service excellence, and strong governance. The Group has been at the forefront of introducing and applying new technology to meet their customers’ growing demands.

Going the Automation Way

The bank had an aggressive strategy to expand the number of branches, and at the same time to provide more products and services to its customers. However, due to a lack of centralization and digitization, the bank had a heavy dependency on manual and paper-based processes, which led to higher costs and inefficiency. The complexity of the loan approval process and lack of transparency and visibility were also a concern for the bank’s expansion strategy.
The bank, therefore, strategized to automate its processes and develop a Central Processing Centre (CPC) and Regional Processing Centre (RPC) for complete back-office process automation. NIC Bank on-boarded Newgen as its technology partner and implemented its BPM-based solution to automate its processes.

Implementing Newgen’s Solution

The solution was designed as per the strategic initiatives taken by the bank. It solved the business concerns of the bank and proved a game-changer for them as it brought about Complete Business Transformation.
The bank successfully automated the following processes with Newgen’s solution:
► Loan Automation ►Asset Finance ►Credit Card
► Business Banking ►Personal Banking ►Credit Scoring for Asset Finance ►Account Opening

Some innovative features and applications of the Newgen’s Banking Solution implemented by the bank include Blacklist Check, De-Duplication Check, Credit Risk Check, and FATCA Compliance.