SBCI FGLS Quick Loans Onboarding Solution

Automate SME Lending Process to manage a high volume of SBCI FGLS loan applications

The Government of Ireland’s SBCI ‘Future Growth Loan Scheme’ (FGLS) is designed to support the development of small and medium enterprises (SMEs) and agri businesses.

FGLS is a long-term lending scheme which offers low cost loans that are secured with an 80% guarantee from the SBCI. Lenders offering FGLS to SMEs must be prepared to fulfill the increasing demand for loans from existing customers and new prospects in terms of technology and operational readiness.

Newgen’s Quick Loans Onboarding Solution for SBCI FGLS scheme enables financial institutions to disburse a large volume of loans to SMEs. The solution is available on cloud and can be deployed within days.

Newgen’s solution allows for online application, with functionalities, including automated eligibility check, loan calculation, disclosure, document upload, assessment, and approval. The solution can be seamlessly integrated with core systems. It offers pre-defined configuration for multiple banking processes, including onboarding, video KYC, retail loans, SME loans, mortgage, service desk, and more.

Key Features of Newgen’s Lending Solution for SBCI FGLS Scheme

  • Faster and efficient loan processing
  • Elimination of redundant data entry, data duplicity, and a unified view of information across different systems
  • Reduction in direct costs related to employee productivity, paper handling, and manual handoffs
  • Quick return on investment
  • Informed decision-making based on pre-defined bank rules
  • Built-in rules and regulatory submission to ensure compliance
  • Swiftly deployable and scalable digital lending solution to support expected volumes

Please contact us now to learn more about our SBCI FGLS lending solution or for a quick web-based software demo.

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