Oman-based Development Bank has selected Newgen Software, a provider of low code digital transformation platform, to streamline its banking processes and provide transformed experiences.
As the government’s financing arm aimed to support SMEs in Oman, DB is committed to refining its banking operations to provide a seamless, secure, and omnichannel experience for its customers.
In pursuit of this goal, the bank has selected Newgen’s intelligent process automation (BPM) and contextual content services (ECM) offerings, which are built on the NewgenONE low-code platform.
The execution of the project will be facilitated by Newgen’s platinum implementation partner, Ikyam Technologies.
By leveraging Newgen’s solutions, DB aims to manage the entire content lifecycle, from origination to disposition. The platform offers effective tools for capturing content from various sources and enables instant document uploads, all within a secure and centralized repository.
The bank can optimise its processes and enhance collaboration between front- and back-office teams through user-friendly workflow automation.
Furthermore, the solution will enable DB to mitigate business risks by ensuring compliance and securing critical business information. The integration with core banking and third-party systems will provide a unified and cohesive experience for users.
Development Bank digital transformation program director Mahmood Al-Yafai said: “With Newgen’s robust solution, we look forward to achieving a paperless work environment that will enhance efficiency, reduce overall costs, and eliminate process bottlenecks.
“This will help us meet the targeted growing demand and scale operations to handle high-volume transactions efficiently, leading to a better customer experience.
“With this implementation, we are poised to set new benchmarks in delivering innovative financial services, empowering SMEs financially, and aligning with the country’s economic development goals.”
Newgen Software EMEA sales vice president Vivek Bhatnagar said: “It brings us great pleasure to partner with DB, supporting and advancing their digital transformation program’s goals.
“DB’s trust enhances our standing as a robust, adaptable, and scalable platform meeting the diverse spectrum of banking customer needs. We look forward to helping the bank build a strong foundation with digital banking and supporting their future initiatives.”
