Newgen Software & Finastra announce strategic partnership
Newgen Software has announced a strategic partnership with Finastra, aimed at offering superior banking solutions to their existing clients and jointly expanding their market presence. Newgen Software is renowned for its low-code platform, while Finastra is a global provider of financial software applications. The collaboration is expected to streamline loan origination processes for consumer, commercial, and mortgage lending.
The integration of Finastra's comprehensive software solutions with Newgen's AI-powered automation suite is anticipated to enhance the customer experience and deliver a higher return on investment (ROI). Rajvinder Kohli, Senior Vice President and Head of Global GSI, Newgen Software, highlighted the significance of the partnership. He remarked, "The partnership underscores our unwavering dedication to empowering the banking sector. We anticipate harnessing Finastra's capabilities to propel banks forward in their digital transformation journey."
Achim Thienel, Head of Universal Banking Partner Ecosystem at Finastra, also expressed enthusiasm about the new venture. "I'm thrilled about our new partnership with Newgen. The close collaboration between Finastra and Newgen promises to be a resounding success. Together, we'll optimise processes and deliver exceptional value to our customers," stated Thienel.
Ritesh Verma, Head of Business Solutions Group at Newgen Software, shared insights into how their lending solution will benefit from this collaboration. "Newgen's Lending Solution, built on a low-code platform, transforms the loan origination journey. With robust integration into core banking and document preparation systems, this collaboration will empower Finastra's customers with advanced API-based integration, accelerating their financial processes for enhanced efficiency," he said.
The partnership aims to offer end-to-end transformation, encompassing onboarding, loan lifecycle management, and collections. Both companies' combined expertise and resources are expected to facilitate smoother, faster, and more efficient lending processes for financial institutions.
Finastra is a global provider renowned for its software solutions and services across various sectors, including Lending, Payments, Treasury & Capital Markets, and Universal Banking. Its products support both direct banking relationships and indirect channels, such as embedded finance and Banking as a Service.
Newgen Software is a provider of a unified digital transformation platform. The company specialises in process automation, content services, communication management, and AI/ML. Its low-code application platform is recognised in the industry for swiftly and efficiently developing and deploying complex, content-driven, and customer-engaging business applications.
