The integration driven by APIs streamlines the generation of loan documents, encompassing diverse consumer collaterals. Additionally, it reduces manual workload by removing the necessity for data mapping and ensures data validation prior to transfer. This solution seamlessly integrates with core banking and third-party systems, assisting banks in complying with regulatory requirements like Reg B, Reg O, CRA, HMDA, 1071, and more. The setup is user-friendly and provides efficiency benefits, enabling integration to be finalised within a short span of a few days.
Officials from Finastra said that their customers expect more agility, innovation, integration, and security. They deliver software that enables their clients to upgrade existing systems gradually through open interfaces. The LaserPro platform is a compliant loan documentation system for use across commercial, consumer, and mortgage portfolios. In their endeavour to constantly offer better choices and cutting-edge technologies, they're pleased to announce this integration of their LaserPro platform with Newgen's Loan Origination System.
Speaking on this partnership, representatives from Newgen Software stated that their lending solution, built on a low code platform, transforms the loan origination journey for financial institutions. The solution seamlessly connects all stakeholders, ensuring a smooth user experience with one-time data entry. With robust integration into core banking and document preparation systems, this collaboration with Finastra marks a pivotal partnership. It will enable LaserPro customers with advanced API-based integration, accelerating their financial processes for enhanced efficiency.
Newgen's lending solutions, backed with AI-enabled underwriting, rule-driven decisioning, real-time dashboards, and document management capabilities, enable streamlined loan application management, portfolio management, instant disbursements on channels, and better collaboration.
Finastra is a global provider of financial software applications and marketplaces, and launched an open platform for innovation, FusionFabric.cloud, in 2017. It serves institutions of all sizes, providing software solutions and services across lending, payments, treasury & capital markets and universal banking (retail, digital, and commercial banking) for banks to support direct banking relationships and grow through indirect channels, such as embedded finance and Banking-as-a-Service.
Newgen is a provider of a unified digital transformation platform with native process automation, content services, communication management, and AI/ML. Global enterprises rely on Newgen's industry-recognised low code application platform to develop and deploy complex, content-driven, and customer-engaging business applications. From onboarding to service requests, lending to underwriting, and many use cases across industries, Newgen unlocks simple with speed and agility.
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