Newgen Implements Solution for improving operational efficiencies and service levels at Marfin Laiki Bank

Complete process automation using Newgen OmniFlow, OmniDocs and OmniScan. End Quote

(1888PressRelease) September 06, 2011 - 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.

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