A solution that offers instant credit approval will help the company increase its market share
NOIDA, India, March 7, 2024 /PRNewswire/ — Newgen Software has announced that Masar Alnumou Finance has chosen Newgen’s Retail Banking solution to improve its personal loan approval process.
With Newgen’s Solution Accelerator for personal loans, the company will be able to drastically reduce the time it takes to book a loan, reducing it to just 5 minutes.
About the successful implementation of the solution, Mr. Sultan Al Sharedahchief business officer on Egypt Alnumou FinanceHe said, ” As one of our main goals to increase customer satisfaction and provide new solutions for the sector, Newgen has proven to be a strong partner and effectively reduced the human intervention needed to process loans. Excellent business knowledge and consistent team support will help us serve a wider customer base.“
The Citizen Banking team at Newgen worked on the existing loan origination solution, ensuring full automation of the process. The credit management system was also renewed, along with portal integrations. Moreover, the company has implemented this solution to manage personal loan collections.
Speaking of solution, Vivek Bhatnagar, VP of Sales at Newgen SoftwareHe said, “We developed a solution with available integrators, optimizing resources. Our low-code platform, NewgenONE, and an agile approach helped us to consider the changing needs of our clients. The automation we have achieved will enable the bank to disburse personal loans within minutes.”
The solution will support faster business growth of the company in different locations. Newgen provides post-production support to ensure a smooth implementation of the solution.
About Masar Alnumou Finance:
Masar Finance was built on the foundations of its predecessor, “Deutsche Gulf Finance”, which played a significant role in the financial sector. As a result of its growth, Masar Alnumou has become a provider of a range of financial solutions that address customer needs.
Moreover, the company is supported by astute stakeholders with vast experience, a board of directors that oversees business operations and ensures their compliance with ethical and professional principles, and managers who use their expertise to contribute to Masar Alnumou Finance.
About Newgen Software Technologies Ltd.
Newgen is a leading provider of a unified digital transformation platform with native process automation, content services, communications management and AI/ML.
For more details, visit https://newgensoft.com.
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