Newgen Software onboards Finastra to expand market reach

By Gloria Mathias

Newgen Software, a global provider of low-code platform has announced that it has partnered with Finastra, a global provider of financial software applications, to offer banking solutions to existing customers and jointly expand the market base.

By joining forces, both companies will be able to deliver enhanced customer experiences and attain greater ROI. Finastra’s comprehensive solutions will leverage Newgen’s AI-powered automation suite to transform loan origination processes for consumer, commercial, and mortgage lending.

Rajvinder Kohli, Senior VP and Head of Global GSI at Newgen Software, said, “The partnership underscores our unwavering dedication to empowering the banking sector. We anticipate harnessing Finastra’s capabilities to propel banks forward in their digital transformation journey.”

Achim Thienel, Head of Universal Banking Partner Ecosystem, Finastra, said, “I’m thrilled about our new partnership with Newgen. The close collaboration between Finastra and Newgen promises to be a resounding success. Together, we’ll optimize processes and deliver exceptional value to our customers.”

Ritesh Verma, Head of Business Solutions Group, Newgen Software, stated, “Newgen’s Lending Solution, built on a low-code platform, transforms the loan origination journey. With robust integration into core banking and document preparation systems, this collaboration will empower Finastra’s customers with advanced API-based integration, accelerating their financial processes for enhanced efficiency.”

The partnership will help the financial institutions streamline their lending processes. The partners will be able to offer end-to-end transformation, from onboarding to loan lifecycle management and collections.

Finastra is a global provider of financial software applications and marketplaces. It serves institutions of all sizes, providing award-winning software solutions and services across Lending, Payments, Treasury & Capital Markets and Universal Banking (Retail, Digital, and Commercial Banking) for banks to support direct banking relationships and grow through indirect channels, such as embedded finance and Banking as a Service.