Development Bank selects Newgen Software

By leveraging Newgen’s solutions, Development Bank focuses on supervising the entire content lifecycle, from origination to disposition. With the solution, the bank receives efficient tools for capturing content from different sources and supports instant document uploads, administrated within a secure and centralised repository. Additionally, the integration allows Development Bank to optimise processes and foster collaboration between front and back-office teams through user-centric workflow automation.

Furthermore, Newgen’s solution enabled the bank to mitigate business risks by ensuring regulatory compliance and securing business-critical data. Customers across all channels receive a unified experience through the integration with core banking and third-party systems. According to Development Bank’s officials, the decision to select Newgen’s solution supports the bank’s development strategy as it works towards enhancing efficiency, reducing overall costs, and achieving a paperless work environment. Development Bank aims to meet the targeted growing demand and scale its operations to manage high-volume transactions efficiently while improving customer experience. With the implementation, the bank focuses on delivering modern financial services, enabling SMEs financially, and aligning with the country’s economic development goals.

Representatives from Newgen Software expressed their enthusiasm over the partnership with Development Bank, as the company supports and advances the bank’s digital transformation program’s goals. With its adaptable and scalable platform, Newgen Software intends to help Development Bank solidify its position in the digital banking sector and assist it in future initiatives.

Newgen Software provides a unified digital platform with native process automation, content services, communication management, artificial intelligence (AI), and machine learning (ML). Enterprises leverage Newgen’s low-code application platform to develop and deploy complex, content-driven, and customer-engaging business applications on the cloud. The company provides onboarding, service requests, lending, and underwriting, among others, across several industries to support businesses in scaling their operations.

The collaboration with Development Bank is not the first one for Newgen, as, in March 2023, the company was selected by BRAC Bank to use its DMS. Through this, the bank intended to simplify end-to-end customers’ journeys and deliver transformed experiences. The deployment allowed the bank to have a centralised repository for securely managing its end-to-end physical and electronic records.