Newgen: Banks "bank" upon us
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Transcript of Newgen: Banks "bank" upon us
Enabling Banking Transformation
www.newgensoft.comhttp://blog.newgensoft.com
SOLUTIONS FOR BUSINESS PROCESS & CONTENT MANAGEMENT
Trad
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Finan
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Loan
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Customer Experience
Management
Cheque
Clearing
Corporate
Credit
Admin
Hu
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Banks today need systems beyond core banking. For improving productivity, centralization of back offices is an
imperative, where non-customer facing activities can be moved from branch to central back office. This ensures that
most of the staff at branches is customer–facing and performs value added services. Using BPM & ECM, banks can build
centralized back offices and improve overall customer experience.
In order to tap the benefits of centralization, process automation is a must. Digitization will help transform manual and
paper-based processes across branches / head Offices into electronic processes. This will eliminate all error- prone and
redundant activities like manual hand–offs, needless paper movement, repetition of checks, reviews and more system
inputs than necessary. The key processes which banks look forward to automating will include Account Opening,
Loan Centralization and Trade Finance.
Process automation leads to greater visibility and transparency across the organization. This can be achieved through
real time dashboards; thus enabling the enterprise to gain insight into the work-in-progress, user or process
performance and KPIs. Through measurement and tracking, BPM can help identify the gaps and remove bottlenecks in
the process thus optimizing process performance.
Enhanced customer experience can be achieved by ensuring communications via customer preferred channels and by
enabling them to get access to the bank via multiple channels like mail, fax, sms, phone, web portal, etc. Customer
on-boarding experience can be improved by leveraging alternative channels of communication.
Another important benefit offered by BPM/ECM, is the ability to meet regulatory compliance and adhere to the SOPs,
thus enforcing consistency. BPM enables large organizations to outsource selectively, while maintaining visibility into
those outsourced transactions.
SOLUTIONS FOR BUSINESS PROCESS & CONTENT MANAGEMENT
DRIVING TRANSFORMATION THROUGH PROCESS AUTOMATION
Introduction
Centralized Back-Office
Digitization & ProcessAutomation
Visibility & Measurement
Enhanced Customer Experience
Compliance &Standardization
Outsource Selectively
Newgen's highly configurable, flexible and scalable products along with its domain experience in banking have
led to readymade point solutions being offered to banks. These solutions are working in numerous large scale
Global Banks and are available to clients as soft template processes and off the shelf products.
The below diagram clearly encompasses the spectrum of Newgen's solution for banking. The following figure
resembles an assembly line which has multiple point solutions provided by Newgen for functions like
Corporate and Commercial Banking, Payment and Settlement, Lending & Mortgage and Retail processes. At
the base of these processes are the solution enablers provided by Newgen like Business Process Management,
Content Management and Rules Management etc. which are integrated with the existing systems in a bank like
Core Banking System, CRM, and ERP etc.
As an assembly line of the processes, it is possible to have a 360 degree view with real time monitoring using
Newgen's Organizational Dashboard. For interacting with the end customers, request management solutions
(for Contact Centers) and customer communication management solutions are available in Newgen's kitty. All
these solutions for Banking ensure almost 100% compliance to the regulatory standards, streamlined
processes enabling high productivity and reduced costs. Also, the customer communications management
solution ensures standardization, customer experience and revenue maximization.
SOLUTIONS FOR BUSINESS PROCESS & CONTENT MANAGEMENT
Organiza
tional D
ashboard
Organizational Dashboard
99% Compliance
Standardizing of Customer Exp.
REAL TIMEVISIBILITY
Lower TAT
Cross Selling
CRM for Contact Centers Customer Communication
CORPORATECOMMERCIAL
Letter of CreditIssuance
Commercial Loans
Bank Guarantee
Accounts Payable
Image Based Clearing(Inward/Outward)
PAYMENT & SETTLEMENT
Funds Transfer
Post Dated Cheques
Forex
...... ............
Automated ChequeHouse
LENDING & MORTGAGE
Loan Origination
Loan Servicing
Loan Underwriting
Collections & Dispute
Know Your Customer & Customer Due Diligence.
Account Maintenance
......
Term Deposit Service
Process Management Content Management Product Configurations User & Rights Management Rules Management
CRM ERP Internet Banking Legacy Systems
Core Banking
COMMON INFRASTRUCTURE
Newgen Banking Solutions Universe
Banking Industry Framework
SOLUTIONS FOR BUSINESS PROCESS & CONTENT MANAGEMENT
CENTRALIZED LOAN PROCESSING
The loan applications are received at remote branches by
the customer walking-in or by direct sales agents. These
documents are then scanned, registered and minimal data
entry is done. Additional supporting documents such as
proof of identity, proof of residence, etc. are also received
and are scanned against the enrollment number of the
original application. The document images are authorized
by comparing them against the original documents at the
branch itself.
These documents are then transmitted to the central
processing centre where the authorization and approval
processing takes place. The data entry, risk assessment and
loan sanction is done by the authorizer based on the
eligibility guidelines. The process can be integrated with third party verification agencies for customer credit checks. If
an exception is raised, it is automatically sent to the branch for resolution. The local database at remote site is also
updated with status and transaction data for all live transactions. On authorization, appropriate action is taken and loan
is disbursed to the customer along with Collateral Contract.
The client core application which keeps information about customers and their transactions can be updated with the
Loan Details.
Loan Process Implementation for a leading Bulgarian bank
Challenges
• Time consuming processing of loan documents
• APS the core banking system was running separately
• Integration required for proper functioning
Processes Automated
• Contract approval and facility input
• Initial and Further Disbursement
• Credit Amendments
• Further Administration, Repayment
• Problem Loans, Liquidation and Archiving processes
Benefits
• Integration with the core banking system
• Initiating work from the core banking system
• Contract generationTM• Master management in APS and reference by OmniFlow
• Automation of 250 branches
• Implementation in Bulgarian to enable the local language support
Newgen Loan Origination Customers
SOLUTIONS FOR BUSINESS PROCESS & CONTENT MANAGEMENT
Account opening process can be initiated at the branch office where the
user will fill in the information related to the account-opening request. The
same can be scanned and used for data entry along with the other
supporting documents required for Know Your Customer (KYC) details. At
this stage the signed CIF & additional documents will be scanned and
routed for document verification to the central processing centre.
In case of any discrepancies like missing document, expired
passport etc., the Assessment Experts would raise an
exception on the basis of which the transactions would be
immediately forwarded to the concerned user at the
branch office for resolution. Automatic email triggers can
be sent to the client for submission of missing documents
at branch office. Post approval, the data would be pushed
to core banking for Account Number generation. The user
would also be able to generate a welcome kit which would
be dispatched to the customer.
Process Modeler
Dashboard
CUSTOMER ON-BOARDING (ACCOUNT OPENING)
60% Reduction in Account Opening TAT for a Fortune 500 bank
• Bank first foray into retail banking worldwide
• Ambitious customer acquisition targets
• Long A/C opening cycle
• Anticipating outsourcing for keeping costs down
• Time-consuming exception handling
• Tracking physical documents as per Central Bank
guidelines
• Account Opening, Maintenance and Closure for
Savings Account, Current Account & FD
• Outward Remittance
• Standing Instructions Execution
• TDS Process
Benefits
• Opens 1200 accounts/day through 10 branches
• TAT improved from 8 days to 3 days
• Better monitoring of branch activities
• Outsourcing step allows automatic upload of bulk customer data
• Masking of signature and mobile nos. for the outsourcing vendor
• Exception handling TAT reduced substantially
• Operational risk management via KYC
Newgen Account Opening Customers
Challenges Processes Automated
SOLUTIONS FOR BUSINESS PROCESS & CONTENT MANAGEMENT
Customer Experience Management (CEM) is the collection of processes a company uses
to track, oversee and organize every interaction between a customer and the
organization throughout the customer lifecycle. The goal of CEM is to optimize
interactions from the customer's perspective and, as a result, foster customer
loyalty.
Newgen offers banks a seamless and automated Customer Experience
Management solution catering to multiple processes like Customer Query
Resolution, Case Management and Contact Center Processes etc.
The key business challenges in managing customer experience are:-
�To manage a consistent experience to customers across various
touch points like Call Center, Front Desk, Helpdesk etc.
�To reduce erroneous hand-offs and customer servicing
procedures
�To simplify and standardize implicit policies and procedures buried
in multiple back-end systems
�Differentiating customer concierge services by customer type
�Dependency on Vendors/ IT experts for performing minor changes on different systems leading to escalated costs
Newgen's offering in Customer Experience Management provides a streamlined, consistent and effective way of
handling the day to day transactions and interactions with customers.
CUSTOMER EXPERIENCE MANAGEMENT
Solution Highlights
• Unified application framework
• Online closure of requests with unified customer
services interface
• Back office processing - workflow
• Multi-authorization facility (e.g. in credit line
increase)
• Process modeling to ensure agile configurations of
business processes that can be defined and
modified by business
• TAT association & escalations
• Comprehensive MIS & dashboard
• Total visibility
Benefits
� Reduction in requests abandonment
�30% improvement of productivity via straight through
processing
�20% increase in customer acquisition and retention
rates
� End to End tracking of requests
� Cases of requests getting assigned to wrong back
office units eliminated
�Bulk processing of requests leading to operational
efficiencies
� SMS/Email notification to customers
�Automated Rule Based Escalation And Exceptions
Management
NEWGEN BANKING CUSTOMERS
100+ processes
(e-Serve); pioneering work
20,000 checks in 4 hours; Loan Proc Request Mgmt System
55 processes across LOBs implemented in just 8 months
450 branches in 22 countries, 4 languages
Account Opening,
Loan Disbursal – TAT reduced to 1 day
700+ branches automated in 2 years; 40,000 loans per month
30 min consumer loan approval in 4 countries
40% reduction in Account Opening Process TAT
Signature Management System, Inward Clearing Process
Ombudsman Process, Integration with Core Banking Finacle
Loan and Credit Card Processing with Score Check app
Loan Admin Process, Interface in Bulgarian, 250 branches
HR
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snoitcnuF elpitluM
DesignTemplates
Designer
Bank
CRM
ECOR GIN
BANK
ER
P
LE
YG
AC
SY
ST
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eniL tcudorP elpitluM
CUSTOMER COMMUNICATION MANAGEMENT SOLUTION
CUSTOMER COMMUNICATION MANAGEMENT SOLUTION
Customer
RegulatoryPartner
stnioP hcuoT deganaM
sepyT noitacinum
moC
Interactive
On Demand
Structured
SOLUTIONS FOR BUSINESS PROCESS & CONTENT MANAGEMENT
In today's competitive world customer is the most important asset to an organization and it is pertinent to retain customers
for sustainable growth. Smart and effective customer communication is the key to retaining existing customers and
attracting new ones. The communication is expected to be highly personalized, One-On-One and over the preferred
delivery channel. Newgen's CCM solution helps banks in transitioning to new generation customer communication while
driving the costs down. It has a proven track record of implementations at leading banks across the world.
CUSTOMER COMMUNICATION MANAGEMENT (CCM)
Consolidation of Statements
� Better customer experience by having a single view of the customer's statements across Savings A/C, Investment, Loans, Credit Cards etc.
Customer Centric Inline Advertisement
�Utilize prime paper space for Personalized Inline Advertisements
�Rule-based profiling and segmenting of customers
Cost
�Consolidated output saves paper, printing & postage
�Avoid wasteful & unread inserts
�Reduced manpower for the entire process
Improved Presentation
�Communicating in customer’s preferred language
�Adherence to corporate branding guidelines
�Graphical analytic representation for taking informed decision
Electronic & Multichannel Delivery
�Failsafe and faster delivery of the correspondences through Email & Mobile
�Tracking of bounced, undelivered, incorrect statements
�Personalized messages over html body or attached pdf
Compliance
�Repository for Statement Archival and real time retrieval
�Service duplicate statement request effectively
�Workflows for multi-level approvals
�Content and design consistency
�Any-time audit
Key Benefits
SOLUTIONS FOR BUSINESS PROCESS & CONTENT MANAGEMENT
Newgen's solution for trade finance expedites trade transactions and minimizes potential data entry errors by offering
rich functionality in an automated environment. The automation results in greater central control over operations and
efficient tracking of instruments. The solution brings overall benefits such as shortened customer service times, leaner
branches with no dependency on physical documents, anytime-anywhere access of digitized documents, faster and
informed decision making and automated exception and resolution.
Moreover, with an agile BPM platform and soft template based approach, the solution can be implemented rapidly for
the customer with minimum time to market.
Trade Finance Processes automated by Newgen
•
• Banker's Acceptance (BA)
• ECR Pre & Post Shipment (ECR)
• Local / Foreign Bills of Exchange Purchase /
Negotiated Under LC
• Onshore Foreign Currency Loan (OFCL)
• Documentary Collection (Both Inward / Outward)
• Bank Guarantee (BG)
Trust Receipt (TR) • Letter of Credit (LC)
• LC Issuance
• LC Amendments
• LC Cancellation
• LC Correspondence
• LC Closure
• Letter of Guarantee (LG)
• LG Issuance
• LG Amendment
• LG Correspondence
• LG Closure
• LG Cancellation
The move to Global sourcing in pursuit of lower supply costs has generally increased the working capital required,
introduced additional bottlenecks and inefficiencies in the global supply chain. As significant amount of world trade is
settled through Letters of Credit (LC), a considerable amount of money is locked up in the financial supply chain due to
inefficiencies in Trade Finance Processes like Letter of Credit, Letter of Guarantee etc. The paper-based processing of these
transactions is time consuming and labor-intensive.
Newgen enables centralized processing of Trade Finance processes. Managing trade finance involves processing and
tracking of Letters of Credit and related instruments at one central location for the entire global operations.
It requires seamless process automation which Newgen offers using its comprehensive suite with strong document
management, imaging, scanning, records management and BPM capabilities.
TRADE FINANCE SOLUTIONS
Trade Finance for a Leading Bank in EMEA
Challenges
• Bank was running various applications and worried about
upgrading the applications every time there was a change
in the business process
• Bank wanted to achieve business agility by moving to a
common platform for all the processes which could be
changed easily
Processes Automated
15 Trade Finance Processes were automated under the
following processes
• Letter of Credit (LC)
• Export Settlement
• Letter of Guarantee Issuance & Amendment
• Shipping Guarantee Issuance
• Trust Receipt Settlement
Benefits
• Reduced Turn-Around-Time for LC/LG issuance
• Availability of online images for verification
• Improved exception handling and tracking
• Enhanced compliance with complete accountability
Newgen Trade Finance Customers
SOLUTIONS FOR BUSINESS PROCESS & CONTENT MANAGEMENT
Retail Banking
A/c Opening &Maintenance
Term DepositServices
CustomerServices
Customer RequestManagement
ATM StatementsProcessing
Locker/CustodialServices
PoS A/cManagement
Statements Archival
CRM ImageEnablement
StatementsConsolidation &Distribution
Corporate / Commercial
Applications
Cheque ClearingProcess
Remittance
PDC Operations
Interest/DividendWarrants
Inward & OutwardClearing
LC Issuance &Amendment
Cheque Archival
Cash ManagementService
Cheque Collection/Bulk Pay Orders
Capturing Documentsat the point of sale
Adhoc Contractsgeneration
Shipment Credit
Bank Guarantee
Commercial Loans
Term Lending
SOLUTIONS
SOLUTIONS FOR BUSINESS PROCESS & CONTENT MANAGEMENT
Loan Origination
Loan Originating
Loan Underwriting
Loan Servicing
Early Warning System
Collection & DisputesLoan Takeover Mgmt
Image Enablement of LOS
Loans Statements Archival
Loans Statement consolidation
Reconciliation Module
Customer Query Resolution
� Current Economic
Environment
� Operational
Efficiency
� Risk Management
� Protection from
predatory lending
Payment & Settlement
Fund Transfer
SWIFT Virtualization
Forex Cheque Processing
Foreign Inward Remittances
Foreign Outward Remittances
Credit Cards & Third Party
Credit Card Issuance
Credit Card Servicing
Chargeback
ATM Statements Processing
Bancassurance
Utility Bill Management
Reconciliation of Visa and Master
SOLUTIONS FOR BUSINESS PROCESS & CONTENT MANAGEMENT
CORE PRODUCTS
Business Process Management Suite
OmniFlow is a platform-independent, scalable Business Process
Management Suite (BPMS) that enables automation of organizational
business processes. OmniFlow is designed to ease the creation,
deployment, modification and management of Business Processes.
Built using open technologies, it has seamless integration abilities
allowing it to be introduced into any IT infrastructure.
™
OmniDocs is an Enterprise Content Management (ECM) Suite for
creating, capturing, managing, delivering and archiving large volumes
of documents and content. OmniDocs manages Scanned Document
Images, Electronic Documents and Emails as records. It also supports
seamless integration with other enterprise applications.
Enterprise Content Management Suite
™
OmniScan is a production and distribution software scanning for
document image capture. It supports distributed scanning, image
quality enhancement and delivery of documents to business systems.
Production and Distributed Scanning Suite
™
OmniReports stores trillions of computer-generated output pages
and reports in a highly compressed form. It has a high-speed ingestion
process with simple interactive definitions, enables instant access to
terabytes of reports independent of business application, and is fully
searchable at field/row/page levels. OmniReports is ideal for sun-
setting of business applications as well as optimizing core system
performance by purging historical reports.
Enterprise Reports Management and Archival
™
Newgen's Omni Output Management System (O2MS) delivers
smarter & targeted communications for better customer
experiences. It offers the capability of leveraging prime paper space
for customer centric inline advertisement, consolidation across
multiple products. It enables secure communication on improved
templates with rich designs and graphical representation of analytics
across multiple distribution channels. In addition easy archival &
retrieval of correspondences for presentment & efficient customer
request resolution is achieved using this enterprise application.
Customer Communication Management
™
Newgen’s Invoice Processing System, with automatic data verification
and validation capability, is a solution for automatic data capture
from semi-structured invoice documents. It also supports seamless
integration with SAP and other ERP’s.
Invoice Processing System
™
OmniExtract is the data capturing solution which extracts business-
critical information from image documents and forms. It can extract
all possible kinds of information like Hand-printed/ Handwritten
Characters, Optical Marks, Barcode, Machine-printed Characters
and MICR Fonts.
Forms Processing Engine
™
Governance, Risk & Compliance
Compliance Manager is an integrated solution for Governance, Risk
and Compliance that’s geared to ensure compliance with standards,
best practices and guidelines of various regulatory acts.
™
Newgen’s ChequeFlow is an image based Cheque Processing
solution for inward and outward clearing. Advanced and highly
configurable sub-systems for Automatic Signature Verification,
FOREX Cheque Processing, PDC Management, ECS/ACH
mandates, add-ons for Cheque Deposit Machine/ Kiosks.
Image-Based Check Clearing & Payment
™
SOLUTIONS FOR BUSINESS PROCESS & CONTENT MANAGEMENT
Value for Money
2011 BPM Decision Matrix
2010 BPMS & 2011 ECM MQ
Reports
®
Proven for Large Volumes Market Leader
Market Leader inDocument Mgmt.
& Workflow
Significant Player
Significant player
in Banking
Fastest Growing
Emerging India Award for IT, ITeS and ICE
Flexible andCost Effective
2011, DOCCM Wave Report
ANALYST RECOGNITIONS
Corporate OfficeNewgen Software Technologies Ltd.A-6, Satsang Vihar Marg,Qutab Institutional Area,New Delhi - 110 067 INDIATel: +91-11-4077 0100, 2696 3571Fax: +91-11-2685 6936Email: [email protected]
USNewgen Software Inc.1364 Beverly Road, Suite 300McLean, VA 22101Tel: +1-703-749-2855Email: [email protected]
UAE
Email: [email protected]
Newgen Software Technologies Ltd.
Off No: 314, Bldg No: 3,P. O. Box. 500297, Dubai Internet City, Dubai, UAETel: +971 4454 1365Fax: +971 4454 1364
www.newgensoft.comhttp://blog.newgensoft.com
About Newgen
• Leading Global Provider of Business Process Management (BPM), Enterprise Content
Management (ECM) & Customer Communication Management (CCM)
• 850+ installations across 45 countries
• Solutions for Banking, Insurance, Healthcare, BPO/SSCs, Telecom and Government
• Credited with some of the world's largest implementations
• Innovative culture, consistent R&D investments, 35 patents
• Employee strength 1100+
• Certified for ISO 9001:2008, ISO 27001:2005 and CMMI Level3
Investors
“Marfin Laiki Bank is known for its innovating culture and focus on bottom line. The bank was always on the lookout for embarking
on initiatives like enterprise content management and business process management to introduce new ways of doing business
improve operational efficiencies and service levels. Newgen Software Technologies with vast experience in the finance and banking
industries, has been the ideal partner for us in realizing these initiatives, as it offered us a complete, comprehensive and mature set of
tools and technologies that simply make things happen ... The quantifiable increases in productivity speak for themselves"- Marfin Laiki Bank
“… Newgen has enabled us to centralize a large number of our processes, resulting in leaner and efficient branches. Branches have
been able to focus on sales, while the processing activities are moved to centralized back office. TAT has been significantly reduced,
leading to better customer experience."- Deutsche Bank
“Simple, Easy & Powerful"- Bank Muscat
MOMENTS OF PRIDE