US-based Credit Union Streamlines its Retail Loan Origination and Online Account Opening Processes with Newgen

Overview

The customer is one of the largest non-profit cooperative financial institution of US, offering personal and business banking services which include checking accounts, savings accounts, mortgage loans, HELOC, and rewards credit cards.

Before the implementation, the customer was facing challenges due to the inefficiencies within their online consumer lending and account opening processes, leading to compliance risk. To address these challenges, the customer chose Newgen’s lending and account opening solution and streamlined their processes.

How Newgen Made a Difference?

By leveraging Newgen’s Retail Loan Origination Solution (RLOS) and Online Account Opening Solution, the credit union underwent a transformative journey with end-to-end automation and enhanced their operational efficiency. Read the complete case study to explore how the customer could achieve various business benefits, including improved conversion rates, minimized turnaround time, and enhanced operational efficiency.