Newgen & Evalueserve team to deliver corporate lending solution

By Gloria Mathias

Newgen Software has announced its partnership with Evalueserve. The partnership will enable financial institutions (FIs) to leverage Newgen’s corporate lending solution integrated with Evalueserve’s AI-based OCR engine to automate financial spreading.

“We are thrilled to launch this strategic partnership with Newgen to offer a comprehensive lending solution to banks. This partnership will enable us to expand our AI-enhanced product offering in lending to help clients approve loans faster and win more business in a competitive market,” said Nitin Garg, Global Head of Corporate and Investment Banking Solutions at Evalueserve.

Many FIs still resort to manual processes for financial spreading. By automating the spreading process and using Evalueserve’s AI-based OCR engine that integrates with Newgen’s corporate loan origination solution (CLOS), FIs can bring consistency in financial data, reduce human errors, improve productivity, and reduce costs.

“We are happy to announce our strategic partnership with Evalueserve to offer automatic financial spreading as part of our corporate lending solution. The AI-based OCR engine will extract data from financial statements to the desired template. This will improve efficiency and credit decision quality,” said Kaushal Verma, AVP and Head of Banking CoE at Newgen Software.

Evalueserve is a global firm empowering enterprise clients with AI-driven products and solutions that optimise decision-making and drive actionable outcomes. The company develops sustainable solutions for a wide range of clients. With a presence in more than 45 countries across five continents, they excel at leveraging domain-specific AI solutions and deep subject matter expertise to elevate their clients’ strategic decision-making and business impact.

Newgen is the provider of a unified digital transformation platform with native process automation, content services, communication management, and AI/ML capabilities. Globally, enterprises rely on Newgen’s low-code application platform to develop and deploy complex, content-driven, and customer-engaging business applications on the cloud. From onboarding to service requests, lending to underwriting, and for many more use cases across industries, Newgen unlocks simplicity with speed and agility.