US-based Union Bank & Trust (UBT) has decided to implement Newgen Intelligent Business Process Management (BPM) solution to streamline operations.
The new system will enable the bank to manage growing customer base and eliminate paper-based workflows.
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The BPM solution will replace several disparate banking systems with a single platform, automating associated manual processes.
It is expected to generate significant operational efficiencies and improve customer experience.
Newgen Software CEO Diwakar Nigam said: “Newgen BPM platform offers many advanced capabilities including process insights, digital sensing, robotic process automation, and machine learning to further add intelligence to bank’s processes.”
Newgen’s Configurable Unified (BPM and ECM) Platform comes with Deep Domain solution accelerators on digital account opening, commercial and consumer lending, customer services request management as well as on internal back office operations.
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By GlobalDataUBT chief information officer Drew Brown said: “Newgen has extensive experience and expertise in the banking industry globally, which they have brought to bear in our time working with them.
“We were attracted by their solid product suite that enables us to internally build and customise a variety of processes, and their leverageable library of more than 50 different pre-defined banking processes across retail, commercial and wealth management.”
Headquartered in Lincoln of Nebraska, UBT is a $4.2bn lender with 34 locations.
Last year, NIC Bank Kenya completed deployment of Newgen’s Business Process Management as a part of its digital transformation.
