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Account Opening and Maintenance
The bank is among the first of the new-generation private-sector banks granted licenses in the mid-nineties to drive the process of reform in the banking sector. During this tenure, the bank has progressed in the areas of technology-supported processes, cost-efficient, and customer-friendly banking systems. The success path has not only been in the Corporate and Wholesale Banking but also in the Retail Banking.
The client is one of the second largest banks in UAE. The bank is headquartered in Abu Dhabi, and has a strong presence in both Consumer Banking and Corporate Banking. The bank is the leading provider of technology-enabled services, such as Internet Banking, Mobile banking, Online Applications, etc. to its customers. The bank was using a standalone application for opening Current Accounts, Saving Accounts, Single Accounts, Joint Accounts, and Minor Accounts etc. Newgen provided the bank with a BPM enabled workflow platform for implementing an automated Account Opening Process.
The bank is amongst the global leaders in Corporate Banking and Securities, Transaction Banking, Asset Management and Private Wealth Management. The bank planned to capitalize on the rapidly growing base of affluent and mass affluent households, as well as small-and medium-sized businesses (SMBs), which represented 75% of the national household income. The Newgen solution enabled the bank to establish a centralized processing center for speedy and accurate processing of retail liabilities and services. The core benefit is derived from the capability of the solution to define, deploy and monitor the processes
Newgen awarded Asian BFSI Award for “Best Use of Mobile Technology in the Financial Sector”. The client wanted to expand its business both vertically and horizontally, and take a step towards next generation technologies especially in the Mobile domain. Newgen identified the opportunity in the Account Opening and KYC process for the Bank and proposed its new revolutionary product – ZapIn Mobile Capture to bridge the gap between service delivery timelines and customer expectations.