US-based Credit Union Streamlines its Retail Loan Origination and Online Account Opening Processes with Newgen

Overview

Our customer is one of the largest non-profit cooperative financial institution of US, offering personal and business banking services which include checking accounts, savings accounts, mortgage loans, HELOC, and rewards credit cards.

Due to the lack of standardization, the customer was facing operational challenges its online consumer lending and account opening processes, leading to compliance risk. To address these roadblocks, the customer chose Newgen’s solution and streamlined its day-to-day processes.

How Newgen Made a Difference?

By leveraging Newgen’s Retail Loan Origination Solution(RLOS) and Online Account Opening Solution, the credit union modernized its legacy platform with end-to-end automation and maximized its operational efficiency. Additionally, the AI-enabled solution successfully digitized end-to-end customer onboarding journey with streamlined application processes.

Read the complete case study to explore how the customer achieved various business benefits, including improved conversion rates, minimized turnaround time, and enhanced operational efficiency.