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Efficient loan processing

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Newgen Software Technologies Limited
Newgen Software Technologies Limited

The document summarizes a case study of Newgen implementing a distributed capture and business process management solution for one of the largest banks in the world. The bank wanted to enhance operational efficiency and manage rapid growth. Newgen's solution involves scanning documents at branches, centralized processing using OmniScan, OmniDocs and OmniFlow, and a cheque truncation system. Key benefits included reduced processing time, improved customer satisfaction and reduced costs.

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Case Study Case Study BANKING S OLUTIONS F OR B USINESS P ROCESS & C ONTENT M ANAGEMENT Efficient Loan Processing and Check-Clearing System using Distributed Capture Overview The client is one of the largest banking and financial services organizations in the world, with over 9,700 offices in 77 countries and territories in Europe, Asia-Pacific, the Americas, the Middle East and Africa. The group serves more than 110 million customers. In India, the Bank offers a comprehensive suite of world-class products and services to its corporate and commercial banking clients as well as the fast- growing personal banking customer base. "We chose Newgen over others (domestic and international solution providers) owing to the company's The Challenge The bank wanted to enhance its operational capacity and productivity to manage Document Management & Workflow the growth from the business development of Retail assets. They wanted to capabilities." reach a large customer base by quickly rolling out a large number of lean Head, Information Technology branches. ! The need of the hour for them was to have Highly Distributed Capture of customer applications and documents ! The centralized processing of documents was key for the teams at branches to focus on sales and customer management The bank wanted to enable its operations to support complex businesss processes, while focusing on best-in-business customer service and keeping the The Client is one of the largest costs of operation low. banking and financial services organizations in the world and offers The bank faced varying challenges such as a comprehensive suite of world-class ! Delayed and faulty processing products and services to its corporate ! Capturing and managing large volume of documents and commercial banking clients as ! Tracking of status of requests well as the fast-growing personal ! Exponentially growing workload banking customer base. ! High operational costs ! Compliance issues The bank also needed to automate their Cheque Truncation System for complying with the Reserve Bank of India regulations. The NEWGEN Solution Newgen implemented their Distributed Capture System at the bank’s branches - Key Highlights across the Indian sub-continent and their Business Process Management (BPM) solution at their Central Processing center. This approach has offered reliability, ! BPM-enabled workflow solution flexibility and scalability for the bank to effectively manage their rapid growth in spread across Personal Loan business. Processing of the bank as well as across the geographies in the region. 28000 documents are now being scanned everyday, across 22 branches country- wide and 700 filed requests are being processed centrally. ! Cheque Truncation System (CTS) has Documents from customers are received and collated at the individual branches. been implemented on top of the BPM These include application forms, supporting documents and cheques, which are platform. processed centrally. Some components of the solution being leveraged by the bank are: ! OmniScan for scanning documents at the branches ! OmniDocs for maintaining a central repository of all the documents ! OmniFlow for centralized processing www.newgensoft.com
Case Study Case Study BANKING S OLUTIONS F OR B USINESS P ROCESS & C ONTENT M ANAGEMENT There after, through intelligent process flows & pre-defined business rules, documents are automatically routed to various stakeholders at different levels such as approver, Key Benefits underwriter, manager etc. for timely completion of the banks processes. ! Reduction in processing time and greater customer satisfaction ! Efficient document management ! Improved performance monitoring using audit trail ! Reduce costs in setting up new branches A Cheque Truncation System (CTS) has also been deployed on the BPM Backbone for centralized inward and outward clearing, branch/remote location cheque capture and for Newgen Software Technologies inward, outward returns processing for the Bank. The solution has been integrated with Limited is a market leader in third party Cheque capture devices like high-speed Cheque scanners/sorters and Cheque Business Process Management deposit kiosks. (BPM) and Enterprise Content Management (ECM), with a global Newgen’s solution also interfaces with the bank's core banking system and is currently footprint of about 700 installations being used for daily inward clearing of around 15,000 cheques. in over 30 countries. More than 100 of these implementations are large, The Benefits mission-critical solutions deployed The Newgen solution helps the client overcome the problems posed by the manual and at world's leading BFSI, BPO, and existing systems besides improving productivity, increasing cost savings, reducing processing time and a multitude of other expected benefits. Fortune Global 500 companies. Some Typical Benefits include: Winner of several awards such as ! Reduction in processing time by: “Frost and Sullivan’s Market + Optimal work distribution Leadership Award for Document + Immediate identification of bottlenecks and deviations Management System and Workflow + Parallel processing of loan application documents Software & Services” and ! Greater customer satisfaction through quicker response and new product offerings “Distinguished Application Product ! Efficient document management and tracking of status across the bank Company” by NASSCOM, Newgen ! Improved performance monitoring using audit trails and ability to drill down to granular Software is an ISO 9001:2000, ISO details 27001 certified and CMM Level 4 ! Easy process designing as per business requirements and enhanced productivity ! Reduced costs for setting up new branches and company. ! Reduced operational costs for document capture & retrieval, processing ! Compliance with statutory regulations Newgen prestigious clients include Max New York Life, HSBC, Deutsche Bank, ABN AMRO, ICICI Bank, HDFC Bank, Hua Nan Commercial Bank, Bajaj Allianz, Sahara Life, Royal Sundaram Alliance, IBM Daksh, Wipro BPO, Dow Jones, WNS, UBS, Equinox, Patni BPO, Wividus, Unilever SSC, Ranbaxy SSC, Airtel, Hutch, Idea, Etisalat UAE, Reliance Infocomm, Tata Tele Services, GSL Hongkong, Praxair, Philips, SEC Philippines, Trent Limited, Kuoni Travels and Kenya Airways Newgen Software Technologies Ltd. www.newgensoft.com A-6, Satsang Vihar Marg, Qutab Institutional Area, New Delhi 110 067 Tel: +91-11-26964733, 26963571, 26856871 Email: newgen@newgen.co.in Newgen Software Inc. DCAP-CS-HSBC-03 1364 Beverly Road, St 300 McLean, VA 22101 Tel: +1 (703) 749-2855 Email: info@newgen.net

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Efficient loan processing

  • 1. Case Study Case Study BANKING S OLUTIONS F OR B USINESS P ROCESS & C ONTENT M ANAGEMENT Efficient Loan Processing and Check-Clearing System using Distributed Capture Overview The client is one of the largest banking and financial services organizations in the world, with over 9,700 offices in 77 countries and territories in Europe, Asia-Pacific, the Americas, the Middle East and Africa. The group serves more than 110 million customers. In India, the Bank offers a comprehensive suite of world-class products and services to its corporate and commercial banking clients as well as the fast- growing personal banking customer base. "We chose Newgen over others (domestic and international solution providers) owing to the company's The Challenge The bank wanted to enhance its operational capacity and productivity to manage Document Management & Workflow the growth from the business development of Retail assets. They wanted to capabilities." reach a large customer base by quickly rolling out a large number of lean Head, Information Technology branches. ! The need of the hour for them was to have Highly Distributed Capture of customer applications and documents ! The centralized processing of documents was key for the teams at branches to focus on sales and customer management The bank wanted to enable its operations to support complex businesss processes, while focusing on best-in-business customer service and keeping the The Client is one of the largest costs of operation low. banking and financial services organizations in the world and offers The bank faced varying challenges such as a comprehensive suite of world-class ! Delayed and faulty processing products and services to its corporate ! Capturing and managing large volume of documents and commercial banking clients as ! Tracking of status of requests well as the fast-growing personal ! Exponentially growing workload banking customer base. ! High operational costs ! Compliance issues The bank also needed to automate their Cheque Truncation System for complying with the Reserve Bank of India regulations. The NEWGEN Solution Newgen implemented their Distributed Capture System at the bank’s branches - Key Highlights across the Indian sub-continent and their Business Process Management (BPM) solution at their Central Processing center. This approach has offered reliability, ! BPM-enabled workflow solution flexibility and scalability for the bank to effectively manage their rapid growth in spread across Personal Loan business. Processing of the bank as well as across the geographies in the region. 28000 documents are now being scanned everyday, across 22 branches country- wide and 700 filed requests are being processed centrally. ! Cheque Truncation System (CTS) has Documents from customers are received and collated at the individual branches. been implemented on top of the BPM These include application forms, supporting documents and cheques, which are platform. processed centrally. Some components of the solution being leveraged by the bank are: ! OmniScan for scanning documents at the branches ! OmniDocs for maintaining a central repository of all the documents ! OmniFlow for centralized processing www.newgensoft.com
  • 2. Case Study Case Study BANKING S OLUTIONS F OR B USINESS P ROCESS & C ONTENT M ANAGEMENT There after, through intelligent process flows & pre-defined business rules, documents are automatically routed to various stakeholders at different levels such as approver, Key Benefits underwriter, manager etc. for timely completion of the banks processes. ! Reduction in processing time and greater customer satisfaction ! Efficient document management ! Improved performance monitoring using audit trail ! Reduce costs in setting up new branches A Cheque Truncation System (CTS) has also been deployed on the BPM Backbone for centralized inward and outward clearing, branch/remote location cheque capture and for Newgen Software Technologies inward, outward returns processing for the Bank. The solution has been integrated with Limited is a market leader in third party Cheque capture devices like high-speed Cheque scanners/sorters and Cheque Business Process Management deposit kiosks. (BPM) and Enterprise Content Management (ECM), with a global Newgen’s solution also interfaces with the bank's core banking system and is currently footprint of about 700 installations being used for daily inward clearing of around 15,000 cheques. in over 30 countries. More than 100 of these implementations are large, The Benefits mission-critical solutions deployed The Newgen solution helps the client overcome the problems posed by the manual and at world's leading BFSI, BPO, and existing systems besides improving productivity, increasing cost savings, reducing processing time and a multitude of other expected benefits. Fortune Global 500 companies. Some Typical Benefits include: Winner of several awards such as ! Reduction in processing time by: “Frost and Sullivan’s Market + Optimal work distribution Leadership Award for Document + Immediate identification of bottlenecks and deviations Management System and Workflow + Parallel processing of loan application documents Software & Services” and ! Greater customer satisfaction through quicker response and new product offerings “Distinguished Application Product ! Efficient document management and tracking of status across the bank Company” by NASSCOM, Newgen ! Improved performance monitoring using audit trails and ability to drill down to granular Software is an ISO 9001:2000, ISO details 27001 certified and CMM Level 4 ! Easy process designing as per business requirements and enhanced productivity ! Reduced costs for setting up new branches and company. ! Reduced operational costs for document capture & retrieval, processing ! Compliance with statutory regulations Newgen prestigious clients include Max New York Life, HSBC, Deutsche Bank, ABN AMRO, ICICI Bank, HDFC Bank, Hua Nan Commercial Bank, Bajaj Allianz, Sahara Life, Royal Sundaram Alliance, IBM Daksh, Wipro BPO, Dow Jones, WNS, UBS, Equinox, Patni BPO, Wividus, Unilever SSC, Ranbaxy SSC, Airtel, Hutch, Idea, Etisalat UAE, Reliance Infocomm, Tata Tele Services, GSL Hongkong, Praxair, Philips, SEC Philippines, Trent Limited, Kuoni Travels and Kenya Airways Newgen Software Technologies Ltd. www.newgensoft.com A-6, Satsang Vihar Marg, Qutab Institutional Area, New Delhi 110 067 Tel: +91-11-26964733, 26963571, 26856871 Email: newgen@newgen.co.in Newgen Software Inc. DCAP-CS-HSBC-03 1364 Beverly Road, St 300 McLean, VA 22101 Tel: +1 (703) 749-2855 Email: info@newgen.net