LAGOS, Nigeria, June 11, 2019 /PRNewswire/ -- Union Bank of Nigeria and Newgen Software have emerged winners of the Best Branch Digitisation Initiative in West Africa award at The Asian Banker West Africa Awards Programme. Union Bank of Nigeria engaged Newgen to design and deploy an automated workflow which reduces the turnaround time (TAT) of operational activities across branches of the Bank, lowering TAT by over 60%.
The Bank leveraged Newgen's Business Process Management-based intelligent workflow automation solution to automate and centralize various tasks including account opening, account maintenance, fund transfer, term deposit, e-business management among others. This has led to a 150% increase in the average number of requests processed per day (across all processes automated.)
Speaking on the feat, Nath Ude, Head of Services and Technology at Union Bank said, "With banking transactions going on at supersonic speeds, customers expect real-time service and personalized engagement; expectations which Union Bank has always worked to fulfil and even exceed. This award is a testament to the bank's continuous efforts to innovate and provide high quality service to its customers."
"Innovation and futuristic vision keeps Newgen at the leading edge of technology. It is our continuous effort to transform the way our customers work in a digital world and help them gain new levels of success. We always strive to innovate and ensure that Newgen is the technology partner of choice," said Diwakar Nigam, Chairman and Managing Director, Newgen Software.
The Asian Banker Awards Programme is referred by prominent global bankers, IT consultants and academics, and is the most prestigious of its kind in West Africa. The awards ceremony was held in Lagos, Nigeria on April 25, 2019.
About Union Bank Plc:
Established in 1917 and listed on the Nigerian Stock Exchange in 1971, Union Bank is a household name and one of Nigeria's long-standing and most respected financial institutions. The Bank has a network of over 300 Sales and Service Centers across Nigeria.
Following recapitalization in 2012 from new investors and a new Executive Management team, Union Bank has undergone an award winning transformation programme to re-establish the bank as a leading provider of financial services in Nigeria.
Union Bank is focused on Retail, Commercial and Corporate Banking businesses. In addition to standard current and savings product portfolio, Union Bank has launched pioneering products into the Nigerian retail market including UnionKorrect, UnionGoal and UnionBetta.
More information can be found at: www.unionbankng.com
About Newgen Software:
Newgen Software Technologies Limited is a provider of Business Process Management, Enterprise Content Management and Customer Communication Management platforms with large, mission-critical solutions deployed at world's leading Banks, Governments, BPO's & IT Companies, Insurance firms and Healthcare Organizations.
For more information, please visit https://newgensoft.com/
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