Page 47 - Banking Finance October 2023
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INTERVIEW
BFSI is one of the fastest-changing industries and early
adopters of technologies. Customer demands in the BFSI Ѫ»® ¬·³»ô ©» ³«¬ ¿½¸·»ª» ·¬
sector have undergone a significant transformation in re- ½±²·¬»²¬´§ ¿½®± ¬±«½¸°±·²¬ ¿²¼ ¬¸»
cent years. Traditionally, customers sought stability and ½«¬±³»® ¶±«®²»§ò É» ³«¬ »²«®» ±«®
reliability in visiting banks and having in-person interactions.
However, the digital revolution has reshaped these expec- ¬®¿¬»¹§ ¿²¼ ±°»®¿¬·±² ¿®» ½«¬±³»®ó
tations. In a broader sense, customer demands come in ½»²¬®·½ ¬± ³¿µ» ·¬ ¸¿°°»²ò
three forms:
Customer Experience: How can the industry enhance cus-
to intelligently automate the end-to-end business applica-
tomer experience across channels by providing seamless,
tion, from origination to disbursal. Banks and credit unions
convenient, and personalized experiences? How can the
can use one platform to automate all loans, accounts, and
customers achieve more and more straight-through pro-
service offerings.
cessing?
Operational Excellence: How can businesses improve the Q. The current customer-centric landscape calls for
TAT of processes, one of the true reflections of customer personalized and hassle-free interactions at every cus-
experience? How can they provide the right information to tomer touchpoint. How does the NewgenONE plat-
the right person at the right time for better decision-mak- form help deliver those in modern financial institu-
ing? tions?
NewgenONE is a comprehensive platform capable of
Business Innovation: How can businesses build more in-
streamlining end-to-end processes for financial institutions.
novative apps rapidly based on the accumulated data? How
The platform automates all aspects of business for efficient
fast can they respond to the change to stay ahead of the
operations, resulting in seamless customer journeys. The
curve?
customers of financial institutions, particularly millennials,
Superior customer experience is not a single entity but
demand personalized and meaningful interactions at every
rather a culmination of various factors that come together
touchpoint. We have built NewgenONE keeping customer-
to elicit positive emotions from our customers. It is not a
centricity in our strategy and operations and designed it so
one-time affair, either. Over time, we must achieve it con-
that the customer sails smoothly through the various finan-
sistently across touchpoints and the customer journey. We
cial processes. Furthermore, we have bridged silos and cre-
must ensure our strategy and operations are customer-
ated an integrated operational environment.
centric to make it happen.
Q. Walk us through Newgen's Contextual Content Ser-
Q. Low code has brought a paradigm shift in how the vices platform and how it assists enterprises in man-
financial sector operates. How is Newgen helping the aging the growing influx of content.
financial institutions in that aspect? Newgen's Contextual Content Services is one of the core
Newgen empowers financial institutions with NewgenONE- functionalities of our NewgenONE platform, apart from
a low-code platform to create business applications more Intelligent Process Automation and Omnichannel Customer
rapidly than ever. This helps them gain agility, achieve Engagement. It comprises Content Lifecycle Management,
faster time-to-market, and achieve automation at scale. Business Process Digitization, Content Intelligence, and
With a lowcode platform, banks can now automate their more. Enterprises can leverage our ECM suite to manage
front, mid, and back offices and create applicationsthat content, processes, and communication with a single plat-
carry a seamless flow of data across applications. form. It helps automate content lifecycle management for
Banks are creating onboarding, lending, trade finance, all types of content across the organization and ensures
payroll, and credit card applications that includeintuitive access to documents and information anytime, anywhere.
customer-centric apps and backend processes. The low-code
process automation software enables financial institutions Q. How does NewgenONE facilitate operations inte-
BANKING FINANCE | OCTOBER | 2023 | 47
