Newgen Software automates key processes at EDCB Bank
The entire solution was implemented and executed at the EDCB head office situated in Cochin and its branches, in two phases.
- (1888PressRelease) June 17, 2011 - Newgen Software Technologies Limited, market leader in Business Process Management (BPM) and Enterprise Content management (ECM) has successfully enabled automation of Loan Approval, Leave Application and General Communication processes at the Ernakulam District Co-operative Bank Ltd. (EDCB) the leading District Central Co-operative Bank in Kerala with over 54 branches in Ernakulam District with Head Office located at Kakkand, Kochi
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The entire solution was implemented and executed at the EDCB head office situated in Cochin and its branches, in two phases. The bank was looking at scalability and a flexible solution to meet its initiatives for growth and centralization of data; where Newgen DMS solution expertise ensured effective document management offering along with customized imaging technology.
Business Benefits of Newgen Solution:
• Faster loan processing
• Reduced physical movement of documents
• Digitization of documents
• More accurate in producing legal documents like Sanction Order, Bond etc
The enterprise Document Management Solution (DMS) solution included process automation with imaging and document management and enabled EDCB to improve processes and facilitated seamless operations. The major processes that were automated at the bank included Loan Processing, Leave Processing and General Communication. The solution also assisted the bank by providing comprehensive audit trail facility for documents simplifying online tracking of documents and determining accountability of users.
Talking about the implementation Diwakar Nigam, Managing Director, Newgen Software said, "The Newgen DMS solution designed for EDCB ensures automatic storage and easy retrieval of document images and smooth integration with existing systems. Its customized solution will enable quicker business processing and greater customer satisfaction."
Post implementation of Newgen's DMS solution, a senior management representative from EDCB said, "The Newgen solution has helped the bank to effectively manage procedures and transactions to achieve operational excellence and ensure better communication and cost efficiency."
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