Bank of the Bahamas Selects Newgen Software to Automate Retail Lending and Account Opening Processes

NASSAU, Bahamas, Feb. 25, 2020 /PRNewswire/ -- Newgen Software Inc., a global provider of low code automation platform managing content, processes, and communication, announced that Bank of the Bahamas (BOB) has selected its retail lending and account opening applications for streamlining their banking processes.

"We were looking for a technology solution that would help us automate our end-to-end lending processes. We went through an intensive evaluation process and selected Newgen as they met and exceeded all our requirements. Using Newgen's digital automation platform, we will enable a modern omnichannel loan initiation and offer smart & intuitive self-service portals to deliver a seamless experience to our customers. We look forward to working with Newgen and further partnering with them for automating our commercial and SME lending processes," said Ian W. Thompson, Corporate Manager, Credit Risk, Bank of the Bahamas Limited.

"BOB is focused on creating contemporary experiences for its customers. We are glad they chose us as a partner in their digital transformation journey. We look forward to delivering purpose-built retail lending and account opening applications that will serve as catalysts in streamlining their processes and improving their customers' experiences," said Anand Raman, EVP and COO, Newgen Software Inc. 

Newgen's retail lending application streamlines the end-to-end lending cycle, from pre-screening to loan disbursal, for all loan types. It facilitates credit origination, approval, and monitoring in a paperless and electronically-driven workflow environment. By moving away from manual processes and siloed systems, the application helps improve processes and reduces operational bottlenecks for a smooth and delightful customer journey.

About Bank of the Bahamas:

BOB is a modern, full-service bank with 13 branches in seven islands (Nassau, Grand Bahama, Andros, Cat Island, Bimini, San Salvador and Inagua) and a long history of firsts in the local Banking Industry. The Bank caters to retail clients from all walks of life providing personal loans and mortgages as well as savings and chequing accounts, term deposits, money transfers, online banking and prepaid cards. Simultaneously, BOB's Corporate and Commercial Department facilitates the financing and cash flow needs of business establishments throughout the country. 

About Newgen Software Inc.:

Newgen Software Inc. is a global provider in banking process automation with more than 200+ banks and financial services institutions as its clients. Newgen's banking process management framework automates critical business processes for banking institutions across commercial lending, consumer lending, customer on-boarding, online account opening, trade finance, digital and mobile customer experience strategy. Newgen offers flexible on premise and cloud-based solutions to its banking customers.

To know how Newgen is connecting enterprises and transforming experiences, visit: http://www.newgensoft.com/ 

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Asif Khan
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SOURCE Newgen Software Inc.