Singapore, 5th November 2020— Fidelity Bank and Newgen Software Technologies received Best Self-Service Banking Technology Implementation in Africa at The Asian Banker Middle East and Africa Regional Awards 2020
The bank leveraged on NewGen’s technology to enable convenient account openings
To drive the growth of the bank further, the bank needed to target the millennials who are more open to using internet banking. As such, they partnered with NewGen to provide a Web-Based account opening solution to improve client onboarding. The solution boasts fast account opening time and minimal human intervention required as the solution extracts data from GVIVE.
The solution is able to provide a multitude of tangible benefits to the bank
With the solution, the bank was able to improve onboarding process by lowering the time taken to open an account from 2 days to 2 hours. As such, there were also time and manpower savings by automating the data entries for each process. With the solution, the self-service transaction volume and value has doubled from month to month figures. In the future, the bank also expects a 15-20% year on year increase in customer base to form a strong foundation to drive the bank’s future growth.
The solution is one-of-a-kind, integrated, efficient platform offering a seamless and convenient banking experience for the customer
The solution provided was made with the goal of making banking convenient. As such, NewGen integrated the solution with other softwares like GVIVE to automate data entry, Blacklist Check to automatically assess risk levels for the account opened. The reduce in layers of manual checks by the bank allowed more the customer to enjoy a smoother process and immediate funding to accounts.
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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 is www.theasianbanker.com
You may visit the Excellence in Retail Financial Services page at http://awards.asianbankerforums.com/retailfinancial/
For further information, you may get in touch with:
Mr. Mobasher Zein Kazmi
Head of Research
Tel: (+61) 452 514 145