NIC Bank selects Newgen to Drive Digital Transformation
Deepthi | Myequity news | Date : 07-09-2018 16:00:00 IST
NIC Bank Kenya PLC, today announced that it has successfully transformed multiple banking processes, using Newgen’s Business Process Management based banking solutions. With its focus on innovation and customer service excellence, the bank has streamlined its processes which have led to an increase in productivity by 90%, reduction in turnaround time by 65% and operational costs by 50%.
Speaking of the achievement, Julius Kamau, Director – Technology & Operations, NIC Bank said, “Our goal is to achieve greater efficiency and enhanced customer experience by offering superior and consistent service across all our touch-points. Newgen's world-class BPM & ECM product suite has automated our business processes and helped us to achieve business excellence resulting in increased productivity and faster services to our customers. We look forward to further strengthen our 10 year longstanding relationship in the future.”
“NIC Bank has always been at the forefront of applying new technology to meet the growing customer demands. It had an aggressive strategy to expand its number of branches and at the same time, provide enhanced products and services to its customers. It is our continuous endeavour to support our clients with innovative technology solutions and help them in their digital transformation journey,” said Diwakar Nigam, Chairman and Managing Director, Newgen Software.
The bank decided to invest in an intelligent workflow platform in order to automate product and service delivery, allow centralization and digitization as well as diminish dependency on manual paper-based processes. It on-boarded Newgen as its technology partner and implemented its OmniFlow Intelligent Business Process Suite (OmniFlow iBPS) and Enterprise Content Management (ECM) Suite comprising of OmniDocs and OmniScan, besides Mobility, designed as per the strategic requirements of the bank.
Leveraging these solutions, NIC Bank was able to successfully transform its account opening, business and personal banking, credit card, loan origination, asset finance and credit scoring. Some innovative features and applications of the Newgen Banking Solution implemented by the bank include blacklist check, de - duplication check, credit risk check and FATCA compliance.
This year marks a decade of Newgen’s relationship with NIC bank which dates back to 2007 when the bank implemented Business Process Management and Document Management Solution. Since then the relationship has strengthened which has brought about complete business transformation. In 2017, NIC received The Asian Banker’s Award for Best Branch Automation, recognizing its outstanding achievements and best practices in technology implementation.About Newgen Software Technologies Limited:
Newgen Software Technologies Limited, is a provider of Business Process Management, Enterprise Content Management and Customer Communication Management platforms with large, mission- critical solutions deployed at world’s leading banks, insurance firms, healthcare organizations, governments, BPO’s & telecom companies.