Newgen Software to Make the Banking Industry More Efficient through Processes Automation Solutions - Supports the CII Banking Tech Event

The 6th CII Banking Tech Summit 2011 focused on expanding the frontiers of banking with innovations via technology. End Quote

(1888PressRelease) July 05, 2011 - Newgen Software, a market leader in Business Process Management (BPM) and Enterprise Content Management (ECM), is pleased to announce the mega success of its process automation solutions for achieving "operational excellence". Speaking on the 6th CII Banking Tech Summit 2011 held on June 28th in Mumbai, Mr. Hareish Gur, Vice-President (India & Asia Pacific) said, "Our world-class solutions have helped banks and financial services organizations in 40 countries to continuously improve their business cycle times, productivity standards and compliance. The inherent capability of our product suite to achieve excellence (or kaizen) in operations has added to the core competence of our customers."

It is noteworthy that Newgen Software has some of the world's largest deployments of BPM and ECM under its belt as accepted and appreciated by the analyst community at large. The company has helped banks to automate processes like Loans Management, Account Opening & KYC (know your customer), Fund Transfers & Remittance, Inward & Outward Clearing, Trade Finance (LC, LG, BG), Audit & Compliance, Credit Cards, Forex Operations, Wealth Management, PDC Management, and so on.

The 6th CII Banking Tech Summit 2011 focused on expanding the frontiers of banking with innovations via technology. Through this event all stakeholders came on a common platform to discuss and deliberate upon the challenges faced by the industry and how best to leverage technology to adopt a sustainable and inclusive growth strategy. The core theme of the event was "Changing Rules of the Game through Technology". The Reserve Bank Deputy Governor K C Chakrabarty, who delivered the keynote address at the summit said, "The next big challenge for our banks is to make banking paperless, cheque-less and cashless." Newgen Software has already made its mark in helping the banking industry become paperless and cheque-less. The company has by far the largest market share in India. Seven out of top 10 banks in each of the three categories of BusinessWorld Best Banks, viz., Large Banks, Medium-sized Banks and Small Banks, are customers of Newgen Software.

The summit was attended by more than 250 participants from the banking and financial services industry. A number of senior officials from Newgen's marquee customer organizations like SBI, HDFC, ICICI, HSBC, Deutsche Bank, IndusInd and Yes Bank attended the event. Newgen Software is committed to help increase overall efficiencies of the country's most important sector (i.e. banking) and will continue to support the CII Banking Tech Summit in years to come

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