Newgen Software, a global provider of an AI-led digital transformation platform, announced its partnership with Old Second National Bank, one of the oldest banks in the US. To enhance its account management process, the bank opted for Newgen’s advanced digital account opening and maintenance solution, built on the NewgenONE low-code platform.
Newgen’s Digital Account Opening Solution is designed to simplify the online account opening process while enabling banks to deliver a personalized, omnichannel experience. The chosen solution will help automate the complete lifecycle of the account opening process.
The solution’s built-in functionalities, including its user-friendly interface, strong integration capabilities with existing systems, and monitoring dashboard, will play an important role in optimizing the customer journey. It will also allow the bank’s end customers to commence their banking journey anywhere on any device. Furthermore, the solution minimizes authentication time, improves customer acquisition, and reduces abandonment rates. It will offer a personalized and omnichannel onboarding experience accessible through both online and in-branch channels, improving the customer experience for both retail and business customers.
On the collaboration, Sylvia Balogh, EVP of Retail Banking at Old Second National Bank, said, “The Newgen team was extremely proactive, responsive, and accommodating throughout our RFP and contract execution process. We are looking forward to work through the milestones with speed and efficiency, as well as bring value to our customers upon implementation of the platform.”
Speaking about the partnership, Sandeep Hinduja, Vice President – Sales (US) of Newgen, said, “We are delighted to see Old Second National Bank entrust Newgen as its digital transformation partner. We look forward to collaborating with Old Second to achieve a seamless customer onboarding journey. We envision a future where this transformation will set a new standard for customer experiences, driving innovation and partnering in success.”