Union Bank of Nigeria and Newgen Software bag award
Union Bank of Nigeria and Newgen Software have emerged winners of the Best Branch Digitisation Initiative in West Africa award at the Asian Banker West Africa Awards Programme. Union Bank of Nigeria engaged Newgen to design and deploy an automated workflow which reduces the turnaround time (TAT) of operational activities across branches of the Bank, lowering TAT by over 60%.
The Bank leveraged Newgen’s Business Process Management-based intelligent workflow automation solution to automate and centralise various tasks including account opening, account maintenance, fund transfer, term deposit and e-business management. This has led to a 150% increase in the average number of requests processed per day (across all processes automated.)
Nath Ude, Head of Services and Technology at Union Bank said: “With banking transactions going on at supersonic speeds, customers expect real-time service and personalised engagement; expectations which Union Bank has always worked to fulfil and even exceed. This award is a testament to the bank’s continuous efforts to innovate and provide high quality service to its customers.”
Diwakar Nigam, Chairman and Managing Director, Newgen Software, added: “Innovation and futuristic vision keeps Newgen at the leading edge of technology. It is our continuous effort to transform the way our customers work in a digital world and help them gain new levels of success. We always strive to innovate and ensure that Newgen is the technology partner of choice.”