The financial services industry has long been weighed down by legacy systems, fragmented workflows, and heavy reliance on manual processing. Delays in loan disbursals, lengthy claims lifecycles, and compliance roadblocks have become all too familiar, for both institutions and their customers.
According to a recent McKinsey report, over the past few years, global technology spending in banking has risen by 9% annually on average—more than double the revenue growth rate of 4%. This surge is driven by increased data demands, the push toward generative AI, and rapid cloud migration. Yet, despite these investments, many financial institutions are still struggling to modernize core processes and deliver seamless customer experiences.
Meanwhile, customer expectations are rapidly evolving. As per a Banking Consumer Study 2025 by Accenture, 46% of customers feel pressured to accept products that benefit the bank more than themselves. This trust gap reveals a fundamental misalignment in customer experience, where automation and personalization could bridge the divide.
Newgen is helping organizations rewrite the rules of customer experience. Newgen’s low-code, AI-first platform empowers banks and insurers to build connected, agile, and intelligent ecosystems that deliver speed, accuracy, and transparency, without compromising control.
