CAIRO, Egypt. -Sunday, April 15th 2018 [ AETOS Wire ]
Bank Audi sae, one of the fastest growing banks in the Arab Republic of Egypt, has successfully transformed multiple banking processes powered by Newgen’s Business Process Management and Enterprise Content Management platforms. With an aim to become one of the leading private banks in Egypt, the Bank has streamlined its processes to achieve greater efficiency and provide enhanced customer experience.
Speaking of the achievement, Afaf Sinno, Project Business Manager, Bank Audi said, “Automating our retail loan origination processes has helped us decrease operational hassles and reduce operational risks. The digitised processes have led to a significant reduction in turn-around-time while the overall business agility has increased, resulting in faster process rollouts. We congratulate Newgen for this success and look forward to a continued long-term association with them as a valuable partner in our growth.”
“For catering to new-age customers, speed is of utmost importance. The solutions allow loan officers to spend more time on strategic decisions and to cater to customers with agility. It is our continuous endeavour to support clients with innovative technology solutions and help them usher in digital transformation,” said Diwakar Nigam, Chairman and Managing Director, Newgen Software.
The solution automates Bank Audi sae’s consumer data and product validations, reduces the time for process validation and maps the eligibility for retail and commercial loans swiftly. Besides Corporate and SME loan processes, the project involved 16 processes across Retail and Islamic streams including Auto Loan, Personal Loan, Credit Card and Mortgage Loan, with their Islamic counterparts like Car Murabaha, Commodity Murabaha, Goods Murabaha, Overdraft New Retail, Overdraft Creation, Staff Loans etc.
About Bank Audi:
Bank Audi is a regional group with a universal banking profile. The Bank offers universal financial products and services including Corporate, Commercial, Individual and Retail, and Private Banking services, in addition to Capital Market activities and Factoring. As at end-December 2017, Bank Audi’s consolidated assets reached USD 43.8 billion, principally driven by private customers’ deposits of USD 33.5 billion, with shareholders’ equity reaching USD 4.2 billion. Bank Audi’s group staff headcount exceeds 6,500 employees and its shareholders’ base encompasses more than 1,500 holders of common shares and/or holders of Global Depositary Receipts (GDRs) representing common shares.
Bank Audi ranks first among Lebanese banking groups and is positioned in the inner circle of top regional banking groups. Its shares are listed on the Beirut Stock Exchange. Its GDRs are listed on both the Beirut Stock Exchange and the London Stock Exchange.
About Newgen Software:
Newgen Software Technologies Limited (listed In India on National Stock Exchanges [Script code: NEWGEN] and Bombay Stock Exchange [Script code: 540900]), is a provider of Business Process Management, Enterprise Content Management and Customer Communication Management platforms with large, mission-critical solutions deployed at world’s leading banks, insurance firms, healthcare organizations, governments, BPO’s & telecom companies.