Solution Sheet

Newgen Solutions for

National Building Societies

Achieve Faster Omni-channel Member Onboarding

Ensure Complete GDPR Compliance

Achieve 2x Operational Efficiency

The UK Financial Services Market is becoming increasingly competitive, particularly for Building

Societies. The Mortgage and the Savings market has been the strongholds of the Mutuals. With

increased competition from the bigger banks and the Challenger banks, Building Societies need to

innovate and improve services to become more efficient. Building Societies need to harness

automation as a tool to improve operational efficiency, arrest cost and deliver superior products

and a differentiating experience to members.

Digital disruption is a major wake up call for financial service providers in the UK. And, Building

Societies are no exceptions. While Challenger banks are the digital leaders, the larger banks have

the advantage of economies of scale. Building Societies need to respond to this digital challenge.

One of the key challenges facing Building Societies is getting the technology right. They need to

invest in a technology that addresses the current needs and can be adapted to accommodate

future requirements as well. The customer base of Building Societies is also witnessing a shift.

From catering to customers who were majorly dependent on branch based and paper-based

transactions to reaching out to digital savvy customers. The challenge, therefore, for Mutuals is to

invest in a technology that caters seamlessly to this widely differing customer base. Changing

regulation and compliance requirements, data protection requirements and siloed systems are

some of the other issues that continue to challenge Building Societies.

Solution Sheet

Primary Challenges for Building Societies

Major Bottlenecks

Increasing competition from

challenger banks

Compliance to myriads of

regulations

Lack of Data Security

Lack of digital self-service

interfaces for members

High Process Turnaround Time

Data across systems

Newgen offers solutions tailored to the requirements of Building Societies to serve their members.

Built on our Configurable Unified Platform, that is based on our Intelligent BPM and ECM

platforms, these solutions cater to the end-to-end automation of key processes for Building

Societies. These solutions are configurable enough to effectively manage exceptions and robust

enough to handle immense volume and scale. A core BPM framework makes the solutions

adaptable and responsive to the extent that organizations can independently run most of the

changes without much dependency on us. The solutions allow building societies to avail the

benefits of both the worlds (Buy + Build), i.e. they get ready-made solutions that are domain rich

and can be deployed on day one along with the benefits of seamlessly enhancing their capabilities

through a configurable BPM framework.

Newgen Solutions for Building Societies

Changing regulations, disparate applications

and manual hand-offs are the biggest

challenges for Building Societies while

managing Mortgage Lending. Newgen's

Digital Mortgage Lending Platform

addresses all these challenges faced by

Building Societies. The Solution automates

and streamlines end-to-end lending cycle

for the full range of mortgage loans–from

origination to underwriting, disbursement

and servicing. The solution is built on a

Business Process Management framework

along with a unified view portal to enable

mortgage origination, approval and

monitoring in a paperless and electronically

driven workflow environment. It integrates

seamlessly with existing core systems.

Newgen's Digital Mortgage Lending Solution

is a combination of portal and framework

which ensures agility for a building

Societies' current and future requirements.

The solution is adept at handling the

mortgage process through its dynamic and

workflow driven environment. With highly

optimized decision workflows, automated

compliance management, documentation

and comprehensive reporting, it strikes the

perfect balance between risk management

and operational swiftness. All the

documents captured during the process are

archived in Newgen's built-in document

repository for easy access in the future.

Integration with bank's third party and

legacy applications, third party vendors etc.

ensure reduced cycle times and best in

class customer service. Stakeholders

including Credit Analysts, Risk Managers,

Credit Admins, Brokers and Client

Relationship Managers experience a surge

in productivity with Newgen Mortgage

Lending Solution.

Digital Mortgage Solution

Complement Legacy to streamline

origination process - Seamless

integration with Legacy systems (Core

Banking) and external systems (Credit

Bureaus, Fraud Hazard, Appraisal, Title,

Flood and Legal etc.) to push and pull

required data. One interface for all the

users across mortgage origination to avoid

duplicate data entry

Handle Exceptions with

Collaborative Case Management -

Supports event and rules-based

management of exceptions, as well

appropriate workflow routing

Ensure Faster Approvals with Rule

Based Decisioning - Application pre-

screening with dynamic forms for

mandatory data entry and eligibility

qualification along with the credit checks to

remove duplicationand identifying possible

defaulters based on Blacklist/AML/Person

Non Grata & various other checks.

Comprehensive credit assessment tools

that expedites approvals. Entire process

seamlessly tied with compliance guidelines

Enable enterprise-wide process

digitization - Workflow based electronic

document movement eliminates the need

to have physical documents at each step of

the process

Achieve 2x Operational Efficiency - Maintenance and segregation of documents

on the basis of deferred/waived

off/received/pending and generating loan

packages with pre-defined bank specific

templates

Bene�ts

Customers today expect a digital on-

boarding experience, one that is device

agnostic and seamless. They want faster

transactions, self-service portals,

transparency and meaningful engagement.

We enable Building Societies to offer a truly

digital- online and mobile channel on-

boarding process that tackles high

abandonment rate of online applications.

Newgen's Consumer On-boarding Solution

enables Building Societies to automate the

entire onboarding and consumer lifecycle

management process. It provides a single

unified view of customers that majorly

improves customer experience, cross-

sell/upsell efforts. The Solution is focused

on usability and configurability. Usability

ensures that the online account opening

interface is simple, comprehensive and

intuitive enough for members to stay on the

application to see through completion or to

save intermittently and come back for

completion; configurability provides a

future proof Building Societies to adapt

with market dynamics and needs of

members. The solution also ensures

complete adherence to all compliances and

regulations pertaining to customer on-

boarding, be it KYC, AML, GDPR and CRS

as well as complete data security.

Consumer Onboarding and Lifecycle Management Solution

3x Faster Member Onboarding -

Automate processes with straight-through

processing for faster on-boarding

Facilitate Omni-Channel

Onboarding - Deliver an omni-channel

and cross channel experience aided by a

consistent workflow driven process that

doesn't drop in-flight

Speed Up On-Boarding with Real-

time KYC - Reduce Turnaround Time for

KYC due diligence process by doing bulk

upload of data to a centralized KYC

repository and getting KYC check done for

multiple customers

Leverage Single Platform for

Current, Savings & Mortgage -

Leverage one single platform to on-board

customers for Savings Account opening,

Current Account Opening and Mortgage

Lending

Enable 100% Compliance to CRS &

FATCA - The system caters to all CRS and

FATCA related requirements

Accomplish end-to-end customer

lifecycle management - A 360-degree

view of customer information helps

improve retention rates. Newgen solution

executes rule-based product offerings that

best suits the customer profile

Bene�ts

Newgen's Retail Loan Origination Solution

enables end-to-end automation of the loan

origination cycle for full range of retail loan

products (auto loans, personal loans, credit

cards) starting from pre-screening,

application processing to underwriting and

disbursal in a paperless and electronically

driven workflow environment. Built as per

industry requirements, it is agile and

adaptable. A core BPM framework rendered

agile by Retail Framework that lies atop,

makes the solution adaptable and

responsive to the extent that organizations

can independently run most of the changes

without too much dependency on us.

The solution provides a high degree of

straight-through processing by automating

the credit policies which enables

underwriters to focus on the critical loans

to be reviewed. With seamless integration

with core systems, the solution enables one

step loan on-boarding. Newgen's real time

reporting engine provides 360-degree

monitoring and control mechanism for

retail loans. It also provides effective risk

management, supports multiple initiation

channels and provide operational and

decision-making support.

Retail Loan Origination Solution

Loan Omni Channel Origination -

Application initiated from different devices

such as Mobile, desktops & Tablets act as

self-service portals for customers

Achieve Operational Efficiency -End-to-end automation of processes from

front office to middle office. Eliminate

duplicate data entry, reduce error rates and

policy exceptions, business rules driven

underwriting and documentation, and

streamline approval cycles for faster

transactions

End to End Automation of Credit

Policy - Complete Credit Policy can be

automated with abolition of manual

intervention, enabling effective decision

making

Compliance and Process

Standardization - Close monitoring of

process Service Levels across the lending

lifecycle–from initiation to disbursement

ensures compliance and risk optimization.

The system ensures that all the pre and

post disbursement loan documents are

tracked and reviewed automatically in

accordance with credit policy and

compliance

Seamless Efficient Risk Management -Integration with External Credit Bureaus

along with Internally developed scoring

engines helps to manage prudential risks by

identifying potential losses and calculate

capital requirements to adhere to Financial

Services Authority (FSA) mandates

Bene�ts

Deliver Contextual Communication

and On-Time - Engage with customers in

their context basis and send out

communication to notify significant

transaction instances

Expand Reach across channels-

Web, Mobile, Mail & Print - Converse

with customers at their convenience on

their preferred channels

Increase Member Satisfaction and

Retention - Right Communication,

through the right channel and at the right

time can drastically improve your member

satisfaction and retention rates

Ensure Complete GDPR Compliance

- Avoid penalties and risk of GDPR non-

compliance

Bene�ts

Contextual, timely, and consistent

communication based on customer's profile

and preferences is key to a great customer

experience. Newgen's unified communication

platform enables organizations to engage

customers through back office, front office

and self-service by connecting with disparate

systems and applications for streamlining

communications across digital and print

channels. It helps Building Societies to

connect with every customer by delivering

personalized, targeted and consistent

communications across all touch points.

The Member Communication Platform

allows Building Societies to deliver all types

of communication- Batch/ Interactive/On-

Demand, flexible designing of

communication, rule-based targeted

communication, multichannel distribution,

tracking and monitoring. Building Societies

can quickly generate Account Statements,

Consolidated Statements, Retail Individual

Statements, Brokerage Statements,

Welcome Kits, Loan Agreements and more.

Member Communication Platform

About Newgen

Newgen Software is a vendor/provider of Business Process Management (BPM), Enterprise Content Management

(ECM), Customer Communication Management (CCM), Document Management System (DMS), Workflow and Process

Automation software. The company has a global footprint in over 60 countries with large, mission-critical solutions that

have been deployed in Banks, Insurance firms, BPO’s, Healthcare Organizations, Government and Telecom Companies.

INDIA: +91 11 40773769

USA & CANADA: +1 (202) 800 7783

APAC: +65 3157 6189

MEA: +973-1-619-8002

+44 (0) 2036 514805UK:

FOR SALES QUERY DIAL

INDIA: corpmktg@newgensoft.com

USA & CANADA: usa@newgensoft.com

APAC: asiapac@newgensoft.com

MEA: emea@newgensoft.com

UK: uk@newgensoft.com

WRITE TO US ,

Comprehensive, future proof

solutions customized to the

requirements of Building

Societies

Compliance to current

and upcoming

regulations with an

adaptable BPM

platform

Support for event and rules-

based management of

exceptions as well as

appropriate workflow

routing

Seamless integration

with Building Societies'

core system, rating

applications, credit

bureau systems

Configurable functional,

operational and

investigative reports

and dashboardsnd

dashboards

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Newgen Advantage

www.newgensoft.com

Single Unified platform

for multiple solutions –

Savings Account Opening,

Mortgage Lending, Retail

Lending2