Newgen Software and Finastra Forge Strategic Partnership to Transform Lending Processes
Partnership to help banks streamline lending processes for a digital-first customer experience
NOIDA, India, Jan. 25, 2024 /PRNewswire/ -- Newgen Software, a global provider of low code platform, announced that it has partnered with Finastra, a global provider of financial software applications, to enhance its loan origination solutions further and integrate lending solutions with Finastra's LaserPro.
The API-driven integration streamlines the creation of loan documents, covering various consumer collaterals. Moreover, it minimizes manual effort by eliminating the need for data mapping while ensuring data validation before transfer. The solution integrates with core banking and third-party systems, helping banks adhere to compliance requirements, such as Reg B, Reg O, CRA, HMDA, 1071, etc. The setup is intuitive and offers efficiency gains, as integration can be completed within a few days.
"Finastra's customers expect more agility, innovation, integration, and security than ever before. We deliver software that enables our clients to upgrade their existing systems gradually through open interfaces. Our LaserPro platform is an industry-leading, compliant loan documentation system for use across commercial, consumer, and mortgage portfolios. In our endeavor to constantly offer better choices and cutting-edge technologies to our customers, we're pleased to announce this integration of our LaserPro platform with Newgen's Loan Origination System," said Finastra's Cheryl Anderson, Director, Product Management.
"Newgen's 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 empower LaserPro customers with advanced API-based integration, accelerating their financial processes for enhanced efficiency," said Anand Raman, EVP & COO, Newgen Software Inc.
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.
About Finastra
Finastra is a global provider of financial software applications and marketplaces, and launched the leading open platform for innovation, FusionFabric.cloud, in 2017. It serves institutions of all sizes, providing award-winning 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. Its pioneering approach and commitment to open finance and collaboration is why it is trusted by over 8,000 institutions, including 45 of the world's top 50 banks.
About Newgen Software Inc.
Newgen is the leading provider of a unified digital transformation platform with native process automation, content services, communication management, and AI/ML. Globally, successful enterprises rely on Newgen's industry-recognized 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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