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Newgen Software Promises More Efficient Automated Solutions

By Mini Swamy
TMCnet Contributor

Newgen Software Technologies Limited, a well known provider of Business Process Management and Enterprise Content Management solutions for financial institutions and banks, claims that its process automation solutions have been extremely successful.

The company made the announcement at the 6th CII Banking Tech Summit 2011 held on June 28th in Mumbai.”Changing Rules of the Game through Technology” was the main theme.

More than 250 participants from the banking and financial services industry and a number of senior officials from Newgen’s marquee customer organizations attended the event.

All stakeholders converged onto a common platform and discussed the challenges that industry faced. They also exchanged views on how to leverage technology to suit their growth plans.

Reserve Bank Deputy Governor K C Chakrabarty, who delivered the keynote address at the summit focused on the future challenges that would include making banking paperless, checkless and cashless.

In a press release, Hareish Gur, vice president of  Newgen (India and Asia Pacific) said, “Our world-class solutions have helped banks and financial services organizations in 40 countries to continuously improve their business cycle times, productivity standards and compliance. The inherent capability of our product suite to achieve excellence (or kaizen) in operations has added to the core competence of our customers.”

Company officials claim that Newgen software solutions have been deployed by many banks and its automated processes fund operations and management have been received well by the financial community.

Seven out of top 10 banks in each of the three categories of BusinessWorld Best Banks in the Large Banks, Medium-sized Banks and Small Banks categories are customers of Newgen Software.

In other news, Newgen Software Technologies Limited recently enabled automation of Loan Approval, Leave Application and General Communication processes at the Ernakulam District Co-operative Bank Ltd. (EDCB), the leading District Central Co-operative Bank in Kerala located in Kakkand, Kochi. The entire solution was implemented and executed at the EDCB head office in Cochin and its branches, in two phases. The bank was looking at scalability and a flexible solution to meet its initiatives for growth and centralization of data; where Newgen DMS solution expertise ensured effective document management offering along with customized imaging technology.

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