fofsummit2019
Editorial

National Bank of Ras Al-Khaimah and Newgen Software Technologies awarded the Best Branch Digitisation Initiative, Application or Programme in the Middle East

By The Asian Banker

  • The bank has implemented a new workflow solution at branches capable of processing 200 services as a single unified process
  • The project improved efficiency, reduced errors and cut processing time by 25%
  • Automated tracking of service requests and customer communication improved experience and reduced manpower requirement

 Dubai March 21st 2019–National Bank of Ras Al-Khaimah (RakBank) and Newgen Software Technologies was awarded the Best Branch Digitisation Initiative, Application or Programme in the Middle Eastat The Asian Financial technology InnovationMiddle East and Africa Awards Programme 2019. The awards ceremony was held in conjunction with The Excellence in Retail Financial Services Convention 2019at Conrad Dubai, U.A.E on March 21st 2019.

RakBank-Newgen

The bank has implemented a new workflow solution at branches capable of processing 200 services as single unified process

RakBankhas implemented a workflow solution provided by Newgen Software Technologies at its branches that enabled the processing of 200 services as single unified process. The solution facilitated automated identification of service request based on barcoded application forms, mandatory documents required and specific fields to be captured for every service request.It also enabled Emirates ID and Signature verification, automated deliverable tracking and sends email and SMS to customers when required. The bank added OmniScan and OmniFlow system from Business Process Management suite of products by Newgen.

The project improved efficiency, reduced errors and cut processing time by 25%

Prior to this implementation the bank had challenges in end to end tracking and closure of these service requests. It faced several operational issues with manual forms, service requests across multiple systems, lack of customer communication on these service requests, manual segregation of forms resulting in high errors, time and low efficiency. The project resulted in significant efficiency benefits, reduced the processing time to 75% and about 25% time was saved due to error reduction following automated processes.

Automated tracking of service requests and customer communication improved experience and reduced manpower requirement

The turnaround time for requests was reduced by 50%, lowering the manpower requirement along with several other efficiency benefits and customer convenience. The bank now provides instant customer communication through email or SMS on status of request and facilitates paperless tracking of requests. The online MIS reports are readily available compared to previous manual entries and there are audit trails for future tracking of enquiries.

The Asian Banker Middle East and Africa Awards Programme is refereed by prominent global bankers, IT consultants and academics, and is the most prestigious of its kind in West Africa. Recipients of these awards are honoured in a gala event that recognises their efforts in bringing superior products and services to their customers. A stringent and comprehensive evaluation process determines the awardees.

About The Asian Banker International

The Asian Banker is the region’s most authoritative provider of strategic business intelligence to the financial services community. The Singapore-based company has offices in Singapore, Malaysia, Manila, Hong Kong, Beijing, and Dubai, as well as representatives in London, New York, and San Francisco. It has a business model that revolves around three core business lines: publications, research services and forums. The company’s website iswww.theasianbanker.com

You may visit the Financial Technology Innovation Middle East and Africa Awards gallery at https://www.facebook.com/pg/TheAsianBanker/photos/?tab=album&album_id=10157080239284804

For further information on the collaterals for winning banks, please contact:

Mr. Alfred Labicassi
The Asian Banker
Email: alabicassi@theasianbanker.com



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