News | August 8, 2018

Credit Union Of Colorado Selects Newgen For Transforming Customer-Centric Processes

McLean, VA /PRNewswire/ - Newgen Software Inc., a provider of banking software solutions, today announced that Credit Union of Colorado has selected its Account Opening and Loan Origination solutions on Cloud, to streamline critical banking processes and offer personalized and enhanced services to its customers.

"In today's age, speed and simplicity are imperatives in a business like ours and it is crucial to automate critical member-centric processes like account opening and lending and Cloud adds a new dimension altogether," said Doug Schneider, SVP of Marketing, E-commerce, & Business Intelligence Administration, Credit Union of Colorado. "Implementing a new-age technology will not only help us energize the first step towards acquiring new business through account opening, but will also give our staff more time to uncover and deliver the best solutions to our members," he added.

"Newgen's solutions are built on a configurable unified platform that helps credit unions accelerate customer acquisition, optimize cost per acquisition and improve the overall business profitability. It facilitates the integration to multiple distinct platforms within the bank's IT landscape," said Diwakar Nigam, Chairman and Managing Director, Newgen Software.

Credit Union of Colorado will implement Newgen's Online and In-branch Account Opening solutions aimed at consumer and business deposit accounts. It will further leverage Loan Origination Solution, online as well as in-branch, for consumer and small business loans. These solutions will be provided through a cloud delivery model.

Built on Business Process Management (BPM), Enterprise Content Management (ECM) and Customer Communication Management (CCM) platforms, these future-proof solutions can be tailored to the unique needs of credit unions and are scalable to accommodate hundreds of processes with billions of transactions. They can integrate with legacy and third party applications and ensure that the financial institution stays compliant to regulations.

About Credit Union of Colorado:
Credit Union of Colorado was founded in 1934 as Colorado State Employees Credit Union. With more than 80 years of experience serving members, today, more than 100,000 people enjoy the benefits of its membership. The Credit Union is worth over $1.39 billion in assets and spread across 15 branches. Its Credit accounts are insured up to $250,000 by the National Credit Union Share Insurance Fund (NCUSIF), an agency of the federal government. Individual Retirement Accounts are insured separately, up to $250,000. The National Credit Union Administration (NCUA) administers the NCUSIF to credit unions across the nation.

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About Newgen Software Inc.
Newgen Software Inc. (subsidiary of Newgen Software Technologies Limited) is a global provider in banking process automation with more than 200+ banks and financial services institutions as its clients. Newgen's banking process management framework automates critical business processes for banking institutions across commercial lending, consumer lending, customer on-boarding, online account opening, trade finance, digital and mobile customer experience strategy. Newgen offers flexible on premise and cloud-based solutions to its banking customers.

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SOURCE: Newgen Software Inc.

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