American community lender Equity Bank has selected Newgen Software solutions to streamline account opening process.
The move will see the lender utilising Newgen’s online and branch account opening applications that will automate the overall process.
With the step, Equity Bank seeks to expedite on-boarding process across channels and improve customer experience.
According to Newgen, the account opening application is developed on a low code automation platform.
Equity Bank EVP & CIO John Blakeney said: “In the competitive and digital banking environment, it is crucial for us to deliver best-in-class services and exceed customers’ expectations.
“We are eager to work with Newgen to reach additional customers in new and different ways, and provide an outstanding opening and onboarding experience for prospective Equity Bank customers across channels.”
Once the digitalisation is complete, the bank will focus in streamlining branch-based account opening process, Blakeney added.
Headquartered in Kansas, Equity Bank is a $4.1bn community bank with 52 branches. It offers commercial loans, consumer banking, mortgage loans, and treasury management among other services.
Newgen Software CEO Diwakar Nigam said: “With the rapid proliferation of digital, banks need to be even more customer-centric to differentiate their services.
“We are glad that Equity Bank has chosen us for this strategic initiative.”
Earlier this year, another American lender Union Bank & Trust approached Newgen to streamline operations.