Newgen Software, a global provider of an AI-enabled digital transformation platform, announced the successful implementation of its commercial lending solution at Enterprise Bank, a community-focused financial institution.
The collaboration streamlined the bank’s lending processes, enhanced efficiency, and improved customer service across its loan portfolio.
Enterprise Bank leveraged Newgen’s Commercial Lending solution to optimize its processes across a wide range of loan types, including Commercial Real Estate, Commercial & Industrial, and Construction. Built on a low-code platform, the solution consolidated loan origination, reviews, and renewals on a single, intuitive interface. Furthermore, the deployed solution seamlessly integrated with the core banking and third-party systems, making it easier for the bank’s users to collaborate on various tasks without having to switch between multiple systems.
Newgen’s built-in module—master data management—enabled administrators to configure the system easily. The business activity monitoring capability enabled users to fetch automated reports and get email alerts based on key events. The amalgamation of these robust features empowered the bank’s users to make quick, timely, and data-driven decisions.
“We have observed a positive shift in our commercial lending operations since the implementation. Loan approvals are now processed seamlessly via straight-through processing, nearly eliminating the need for manual intervention. The ability to capture detailed data improved our reporting and ensured compliance. Additionally, the extensive, rule-based matrix has been instrumental in making prompt, fast, and accurate decisions while effectively managing our decision hierarchy. Newgen’s expertise and responsiveness have played a key role in enabling these enhancements, helping us improve our efficiency and services. We look forward to further expanding these capabilities as we continue to grow,” said Ryan C. Dunn, EVP - Regional Commercial Lending Director at Enterprise Bank.
“We are delighted to announce the successful deployment of our cutting-edge digital transformation platform for Commercial Lending at Enterprise Bank. This collaboration marks a significant milestone in our journey to enhance operational efficiency and deliver exceptional customer experience. Together with an amazing partner like Enterprise Bank, we are paving the way for a more innovative and digitally empowered future in the banking industry,” said Sandeep Hinduja, Head of Banking (US), Newgen Software Inc.