The bank to automate account opening, lending, and collection processes
MCLEAN, VA. – September 1, 2021 – Newgen Software, a global provider of digital transformation platform, announced that Bank of the Bahamas Limited has implemented Newgen’s banking solutions to automate its online account opening, retail lending origination, commercial lending, and collections processes.
The Bahamian bank will leverage Newgen’s connected banking offerings to bridge operational silos, digitize paper-based processes, and ensure compliance. With Newgen, the bank can utilize a single self-service portal—integrated with the core banking system—for their end-to-end lending processes, from loan initiation and credit analysis to disbursal and collection. Furthermore, the bank is looking to achieve better transparency and accountability in its processes by utilizing the platform’s real-time dashboard for tracking and reporting.
“So far, it has been great working with Newgen’s team. They have been responsive in addressing all concerns during the implementation phase, ensuring a timely and successful go-live. With Newgen’s solutions, we are looking to shorten loan and account processing times, reduce overall costs, decrease turnaround times, and eliminate process bottlenecks,” said Ian W. Thompson| Corporate Manager, Credit Risk, Bank of the Bahamas Limited,
“To stay competitive, banks must automate their customer-facing business processes with speed and agility. We are glad that Bank of the Bahamas Limited chose us as a partner in their digital transformation journey. We look forward to helping them build a strong foundation with connected banking and supporting their future digital initiatives,” said Anand Raman, EVP and COO, Newgen Software Inc.