Newgen bags the Asian Banker Award for “Best Branch Automation and Networking Project” for Dhanlaxmi Bank Implementation
Newgen Software and Dhanlaxmi Bank were awarded for their excellent deployment of Account Opening and Service Request Management Process.
While accepting the award Mr. Muralidharan R, COO, Dhanlaxmi Bank said, “A project of this complexity that has impacted over 50 percent of the bank’s activities needed a passionate team and a good provider of technology solutions. Newgen fit the bill extremely well and they were walking with the bank the extra mile needed for fulfilling one hundred percent of our requirements.”
On behalf of Newgen Software, Mr. Hareish Gur, Vice President (Asia Pacific), who received the award said, “We are glad that many of our customers are receiving awards at international forums. This award for Business Process automation at Dhanlaxmi Bank re-iterates Newgen’s commitment to help customers achieve their business goals. What makes this award so special for us is that the Asian Banker has thoroughly vetted different BPM implementations throughout Asia before announcing the winner.”
Dhanlaxmi Bank had launched a project called WoW (War on Waste) as a part of their transformation strategy to achieve three main objectives –
• Crash the Turn-around time for the customer
• Eliminate hardcopy paper-flow and become environment friendly
• Place the power of information in the hands of the customer service personnel (to track service requests and account set up status end to end)
The Account Opening and Service Request Management Process automation implemented on the Newgen platform Omniflow TM shortened the process cycle time for the bank from 19.5 days to less than 48 hours. The productivity of business users has increased three folds from about 40 to 120 applications per person per day (including the supervisory head count that has reduced to a one-third of its original requirement). Dhanlaxhmi Bank was able to eliminate over half a million sheets of paper and nearly 100 thousand envelopes (for courier) per annum. Some key features and best practices used in this deployment include auto-validation with NSDL and OFAAC data for KYC, zone-guided double data entry, auto-posting to CBS, etc. This implementation is for 1000 business users working across 275 branches, 11 Regional Processing Centers and one Central Processing Center of the bank.
It is noteworthy that Newgen is celebrating its twenty glorious years of leadership in BPM & ECM solutions this year. Newgen is one of the rare Indian product companies that has installation base in 45 countries outside their home country.
Newgen Software Technologies Limited is a leading global provider of Business Process Management (BPM), Enterprise Content management (ECM) and Customer Communication Management, with a global footprint of 850 installations in over 45 countries with large, mission-critical solutions deployed at the world's leading Banks, Insurance firms, BPO’s, Healthcare Organizations, Government, Telecom Companies & Shared Service Centers.
Newgen’s Quality Systems are certified against ISO 9001:2008 and Information Security Standard, ISO 27001:2005. Newgen has been assessed at CMMi Level3.
D-152, Okhla Phase 1,
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