Bank of Abyssinia selects Newgen for delivering superior customer experience

By Edlyn Cardoza

Newgen Software, one of the global providers of low code-based digital transformation platform, NewgenONE, announced that Bank of Abyssinia, one of the fastest growing banks in Ethiopia, has onboarded Newgen for end-to-end automation of retail and small and micro enterprise (SME) loan types.

“We are delighted that the Bank of Abyssinia chose us as their digital transformation partner. Our solution will help the bank digitize retail and SME loan processing. This will help the bank to reduce the turnaround time, offer seamless services to customers, enhance business growth, and improve service quality, thereby enhancing the overall customer experience,” said Tarun Nandwani, COO of Newgen Software.

With the loan origination solution built on NewgenONE, the bank will streamline the origination, processing, tracking, and disbursement of loans. The solution will be used in 750+ branches spread across Ethiopia.

The Bank will leverage Newgen’s platform with capabilities such as a business rule engine, workflow management, and document management and ensure 360-degree process visibility in the business activity monitoring and reporting. The robust system will equip the bank to meet the growing business demands and allow them to transform digitally and scale operations to handle high-volume transactions.

“Newgen’s loan origination solution will enable us to respond faster to customer queries and requests. It is vital for us to offer a premium user experience to our valuable customers. Newgen’s solution will help us achieve operational excellence and business innovation, enabling us to stay ahead of the competition. We look forward to our partnership with Newgen,” said Andinet Fekade, Director of Program Management at Bank of Abyssinia.