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          •  - Case Study: Transforming Account Opening for a leading Central American Bank
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          •  - Case Study: Transforming Account Opening for a leading Central American Bank
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          •  - Case Study: Transforming Account Opening for a leading Central American Bank
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          •  - Case Study: Transforming Account Opening for a leading Central American Bank
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          • ESM overview - Case Study: Transforming Account Opening for a leading Central American Bank

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          • Modern approach to ESM - Case Study: Transforming Account Opening for a leading Central American Bank
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          • Art and science of customer experience - Case Study: Transforming Account Opening for a leading Central American Bank
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            • Claims Processing
            • Point of Sales and Service
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          •  - Case Study: Transforming Account Opening for a leading Central American Bank
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          • ESM overview - Case Study: Transforming Account Opening for a leading Central American Bank

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          • Financial Statements Close Process
          • Modern approach to ESM - Case Study: Transforming Account Opening for a leading Central American Bank
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          • Art and science of customer experience - Case Study: Transforming Account Opening for a leading Central American Bank
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Case Study

Transforming Account Opening for a leading Central American Bank

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Home » Resources » Case Study: Transforming Account Opening for a leading Central American Bank

Overview

The client offers a full range of market-leading financial services in Corporate Banking, Retail Banking, Wealth Management, Credit Cards, Treasury Sales and Trading, and Investment Banking. The client is the largest, regionally–listed bank in the in English-and Dutch-speaking Caribbean.

The Challenges

The client was looking for a solution to automate its account opening and loan processing system. The bank wanted to improve the transparency of the processes for the senior management. In the existing system, there was no centralized control on the specific rules or validations for multiple regions and territories. There were also no validations built into the core system which led to incorrect information being filled in the core application without any automated checks. There was a lack of a centralized dashboard to track the current status via emails/ telephone calls.

Benefits

  • Real-Time Monitoring – As a result of Newgen’s built-in Business Activity Monitoring tool, the bank was able to measure the number of new applicants inducted, and those that were approved territory-wise/region-wise, etc.
  • Report Generation – The solution has the ability to generate internal and regulatory reports. The online reports generated from the system such as Account status report territory, Account status report branch, Summary report territory, Compliance exception report, etc., helped to monitor and track the application across processes
  • Real-Time Visibility – The solution has features to track, manage, measure, and audit activities which have increased transparency in operations
  • Agility/ Continuous Process Improvement – Ability to dynamically change as per changes in products, policies, and regulations
  • Customer Satisfaction – Improvement in Turn-Around-Time and meeting internal SLAs have helped to reduce resolution time and improve customer satisfaction levels.
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Newgen is the leading provider of a unified digital transformation platform with native process automation, content services, and communication management capabilities. Globally, successful enterprises rely on Newgen’s industry-recognized low code application platform to develop and deploy complex, content-driven, and customer-engaging business applications on the cloud. From onboarding to service requests, lending to underwriting, and for many more use cases across industries. Newgen unlocks simple with speed and agility.

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