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

Bank looks to transform its customers’ experience with digital technology

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.