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Newgen Vertical Solution for Banking
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Newgen - Banking
Banking - Business Drivers
Banking Industry deals with processes which are mainly document intensive like Account Opening or Loans Processing Since the volume of transactions are huge, it is difficult to manage these processes in a manual way With growing competition, Bank has to ensure the service level to customers is always improving Instant access to customer documents and automatic processing of these documents are key to ensure quick and effective customer service Reducing cost of operations or cost of servicing a customer is the major need for a CEO of a Bank Increased compliances also calls for an effective mechanism to manage customer documents and have an audit of all the transactions done on a document2
Newgens Banking Experience
Retail & Corp Banking: Account OpeningCustomer ServicingCurrent Account Corp Term Loan LC Issuance Bank Guarantee Bills of Exchange
Payments: Funds Transfer Remittance Processing Inward-Outward Clearing Warrants Processing SWIFT Virtualization Cheque Archival
Lending/Mortgage/Credit Card Issuance Loan Origination Loan Administration Loan Servicing Credit Card Issue Mortgage Secure Loans Unsecure Loans
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BRANCH OFFICES
Documents Receipt/Checking
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Minimal Data Entry2
Issuing Welcome Kit3
Local Scanning
Central Scanning
Data Entry & Document Verification4
Exception Handling
Exception Handling5
Authorization6
Account Activation7
Email Notification to customer 8
Disbursing other documents to customer 9
Archive 10
Central Processing OfficeAccount Opening Automation
OmniScan will initiate the process for A/c Opening. All Documents will be scanned and metadata and indexing will be done for each document in Omniscan.Application Form with all supporting documents will be exported to the Omniflow for processing. Data Entry will be done at this stage. If there is any exception found, that can be resolved at this stage.After all approval, verification and validations Account will be opened.A welcome mail will be sent to the customer from process itself.Customer come to the office to collect his kit.Final document file is archived in to the document management system OmniDocs with all related documents and customer information.
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Solution BenefitsOrganizational BenefitsHigh levels of customer servicecompliance with statutory regulationsImproved security and qualityBetter co-ordination among employeesEasy data recovery and disaster managementElimination of file racks, storage areas
Customer BenefitsProcess fully transparent and up to date to customer. Reduced TAT for Account OpeningIntegrated with various gateways for fast communication and payment realizationSimple and Fast roll out for new products and promotional offers Improved reach to customers lean branches with minimum workforceAudit log for all activities Operational BenefitsLower costs of operationHigher levels of productivityCentralized Operations and hence faster decision makingReduction in Turn-around timesReal-time monitoring dashboards for complete control
With Newgens BPM solution in place, customer shall explore the possibility of outsourcing low value add processes Employee productivity will be improved since the redundant activities like manual searching of documents, photocopying, and manual sharing is minimized5
6Benefits Analysis with ROISource: Deloitte case study at one of our customers
The cost of the solution mentioned is a ball park estimate with 2 OmniScan Licenses and 10 users for OmniDocs and OmniFlow, along with the server licenses, as well as Business Activity Monitoring (BAM) viewer, along with the implementation as well as product and implementation support for one year Total Cost is a ball park estimate which includes cost of server, storage and scanner; as well as database, application server and operating system The ROI calculation was done by Deloitte at one of Newgen customers in Middle Wast, ADCB, keeping a three year time window post deployment6
partners@newgen.co.inCorporate OfficeNewgen Software Technologies LimitedA-6, Satsang Vihar MargQutab Institutional AreaNew Delhi -110 067INDIATel: +91-11-4077 0100 +91-11-2696 3571+91-11-2696 4733Fax: +91-11- 2685 6936
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