Newgen Customers in Audit and Compliance

The client is a leading Indian bank that has been serving its customers for over 85 years. The bank was running on a legacy system TBA (Total Bank Automation) and not on a core banking solution. All the clearing activities had to be de-centralized as all the bank’s branches had individual databases for account information. To augment its operations and plug gaps, the bank required an end-to-end customer centric solution. They chose Newgen’s Cheque Truncation System – ChequeFlow for central processing and ChequeFlow Lite for branch level processing, OmniFlow for process automation and OmniDocs as the underlying document management system

The company is a leading FMCG player whose parent company markets a large portfolio of products such as beverages, food, health, home and personal care goods. The company had set up a Shared Service Centre (SSC) in India for optimizing resource utilization, serving various offices across multiple countries to achieve economies of scale. The complex manual processes were costly, labour intensive, error prone and time consuming. The BPM solution from Newgen enabled centralization and automation of processes for Account Payable, Account Receivables, Vendor Bills, Freight Bills, POPR and SOXA compliance

A highly scalable solution that shortens the cheque clearing cycle, reduces the cost associated with the physical transportation & cheque storage followed by an instant retrieval of the cheque images along with no additional IT infrastructure investment for the largest private bank in UAE.

Newgen Case Study on Implementation of Image-based Cheque Clearance.