Newgen Software, a global low-code platform solutions provider, has entered a strategic alliance with financial software provider Finastra. The partnership aims to improve financial solutions for clients by co-developing innovative banking platforms that promote digital transformation.
Both Newgen and Finastra plan on using their shared expertise to improve speed, efficiency, and agility in financial operations. This collaboration will also allow for increased geographical reach and superior customer experiences. They aim to deliver top-quality digital solutions in line with the growing demand for digital services in the finance sector.
The collaboration is guided by principles of transparency, innovation, and dedication, with a focus on user-friendly interfaces. This partnership seems key in ensuring competitive adaptation and sustainability in the financial industry amid rapid digital transformation.
Finastra hopes to make use of Newgen Software’s AI-driven automation suite to refine loan origination procedures in the commercial, retail, and mortgage lending sectors.
Newgen and Finastra’s strategic digital alliance
The use of smart automation and artificial intelligence could revolutionize the existing loan origination process and reduce potential risks associated with credit judgments.
At the core of this partnership is Newgen’s Lending Solution, a tool designed to significantly streamline loan origination. This tool is designed to enhance efficiency and reduce manual errors while complying with regulatory requirements. It’s highly customizable, allowing organizations to modify operational workflows according to their needs.
Finastra’s clients will also benefit from robust integration with core banking and document preparation systems, leading to improved financial efficiency and a secure digital environment for all users. The collaboration is set on providing future-proof, agile, and customizable solutions that meet unique business needs.
The partnership between Finastra and Newgen Software symbolizes a significant move towards providing secure and efficient solutions that support the evolving banking industry. They are determined to improve processes and provide significant value to clients worldwide. The alliance is expected to streamline operational processes, innovate banking solutions, and set a new industry standard.
