Professional Documents
Culture Documents
This trend has fuelled a stiff competition, particularly for the SME and
Community banks. While SME and Community banks might look at expanding
their lending portfolio by venturing into SBA, CRE and Industrial loans, their
legacy systems can often act as a deterrent, making them less competitive.
Here's what legacy systems
are doing to the banks
Creating dependency on manual
processes
Lack of automated credit risk policy checks for Single Obligor limit
(SOL), Economic criteria, Approval Hierarchy , Deviations
management
Broken Processes
Even though these applications served the purpose at hand, it gave rise to
the swivel chair phenomenon where users would switch between screens
to complete a process. This led bank users to input the customer data
multiple times in multiple applications such as loan origination, spreading
/risk management system, documentation, external/third party appraisals
and post disbursement covenant, review & renewals.
Loan
Tracking System
Lead Origination,
Managements CRMs Manual or Automated
External Checks
OFAC, Equifax, Spreading
Flood, Appraisals etc.
Loan Documentation
Tracking System Word, Excel, Pdf
Post Disbursement
Monitoring Ratings
Covenants and Reviews Disbursement
Closing and Booking
Difculty in adhering to complex rules
and regulations
If you have identied with majority of the pain points, here's how
Newgen Commercial Lending Framework can help your bank survive
even with legacy systems :
Automation through digitization of
paper documents
A single application window for all type of loans C&I, CRE, SBA,
Construction Leasing etc, which also satises the need for
compliance and demand to scale. A single accelerator platform
for all business areas
Multi-Channel Initiation
Web Third
Branch Mobility Party Agent
Portal
Construction
Leasing
Commercial Hire Purchase
SBA Loans
Real Estate Loan
Commercial
and Servicing all lending Other Loans
Institutional products
Loan on a single platform
Newgen's Quality Systems are certified against ISO 9001:2008 and Information Security Standard, ISO 27001:2013. Newgen has
been assessed at CMMi Level3.