Case Study: Leading Caribbean Financial Group achieves 70% cost savings and 80% faster loan turnaround with Newgen Software

A Leading Caribbean Financial Group Transforms Customer Experience Through Newgen’s Retail Loan Processing Solution

A leading Caribbean financial services group serving 412,000 customers across Jamaica, Trinidad & Tobago and the Dominican Republic was constrained by a largely manual, paper-based retail lending process. Frequent documentation errors, slow approvals, lack of real‑time tracking, compliance risks, limited scalability and high operational costs created major bottlenecks and a poor customer experience.

Newgen implemented its retail loan processing platform—online loan initiation, automated document verification and credit scoring, rules‑based approval workflows, underwriting integrations, CRM and core‑system reporting, exception handling and a compliance module—to automate origination and monitoring. The customer realized a 70–80% reduction in operating costs, a 70–80% increase in processing capacity, a 75–80% improvement in turnaround time, significantly fewer errors and compliance issues, higher customer satisfaction and an expanded loan portfolio.