Newgen Software Technologies Limited, a market leader in Business Process Management (BPM) and Enterprise Content Management (ECM), announced the successful implementation of its BPM solution based on Workflow and Document Management System (DMS) at Marfin Laiki Bank, Cyprus and Remote Image Server (RIS) at Greece and Serbia.
Newgen’s solution comprising OmniFlow, OmniDocs and OmniScan is expected to meet the Bank’s entire document processing needs, ensure faster Turn Around Time (TAT), reduce operational costs, enhance customer satisfaction and increase revenue.
“Marfin Laiki Bank is known for its innovating culture and focus on bottom line. The bank was always on the lookout for embarking on initiatives like enterprise content management and business process management to introduce new ways of doing business, and improve operational efficiencies and service levels. Newgen with its vast experience in the finance and banking industry has been the ideal partner for us in realizing these initiatives, as it offered us a complete, comprehensive and mature set of tools and technologies that simply make things happen.” commented Mr. Solonas Matsias, Group Director Organisation, Marfin Laiki Bank.
“We have implemented 7 processes within 18 months and the document management solution serves in 3 different countries. Another 4 processes and document management installations are under way to be implemented in the next 6 months. The insight resulting from process and content integration and streamlining enable us to do more with less. The quantifiable increases in productivity speak for themselves” -– he further added
Speaking on the significance of this win, Mr. Diwakar Nigam, CEO at Newgen Software said,“Newgen’s workflow and DMS offerings will help to streamline processes, reduce paper-based processing and improve TAT significantly. With this implementation, Newgen has further consolidated its position in the banking space. We are aggressively working towards building a strong partner base and work as a preferred partner for leading financial institutions across the globe for making the Industry more efficient.”
Newgen solution will pave the way for Marfin Laiki Bank to expand its markets and grow its customer base with faster and efficient services. Newgen's end-to-end solution will ensure seamless integration with core applications. The key processes being automated include, Staff Loan processing, Customer fund transfer, customer Creation, Cash Order Approval and Circulation in Branches, Customer Limits Creation and Maintenance, Processing of Customer Maintenance Request and Processing of Reported Fraud Incidents.
About Marfin Laiki Bank
Marfin Popular Bank is the outcome of a triple merger in 2006 of the Banking Groups of Marfin, Egnatia and Laiki that its history goes back to 1901 when it began operations as small savings bank.
Marfin Popular Bank (formerly Cyprus Popular Bank) is the second largest banking group in Cyprus behind the Bank of Cyprus. Trading on the island as Marfin Laiki Bank, it currently holds a 15% share of the market in loans and a 19% share of deposits. Its shares are listed on the Cyprus Stock Exchange and the Athens Stock Exchange. Marfin Popular Bank's strategic objective is to become a leading player in the field of financial services while at the same time achieving high returns for shareholders.
Presently, the Bank is operating in 11 countries: Cyprus, Greece, United Kingdom, Australia, Ukraine, Russia, Romania, Serbia, Estonia, Malta and Gurnsey. It offers services to private individuals, corporate and commercial banking, Private Banking, Treasury, Electronic Banking, Factoring, Financing and Leasing, International Banking Services, Shipping Services, Insurance Services, Stock broking and Capital Management.
Newgen Software Technologies Limited is the market leader in Business Process Management (BPM) and Enterprise Content management (ECM), with a global footprint of 800 installations in over 40 countries with large, mission-critical solutions deployed at the world's leading Banks, Insurance firms, BPO’s, Healthcare Organizations, Government, Telecom Companies & Shared Service Centers.
Newgen is recognized by distinguished analyst firms like Frost and Sullivan as A 'Hot Company to Watch for' in their global ECM Market report, 2009 and by IDC in its exclusive report “Newgen Software: Global Leader in Business Process Management and Document Management Solutions”. Newgen is a winner of prestigious awards, such as the CNBC-TV18,“Emerging India Award 2008”.
With HSBC and SAP investment, Newgen is one of the rare product companies to have backing of both leading financial and technology companies of the world. Newgen’s Quality Systems are certified against ISO 9001:2008 and Information Security Standard, ISO 27001:2005. Newgen has been assessed at CMMI Level3.