Case Study: Kenya’s 3rd Largest Bank achieves faster loan approvals and streamlined account opening with Newgen Software

Kenya’s 3rd Largest Bank Revamps Loan Automation & Account Opening Processes with Newgen

Kenya’s third-largest bank, referred to here as the Largest Bank, needed to expand its branch network while replacing slow, manual, paper-based loan and account-opening processes. The lack of centralization and visibility created high costs, delays, and inefficiencies, and the bank turned to Newgen Software for Intelligent Process Automation (BPM) and Contextual Content Services (ECM).

Newgen Software automated key workflows for loan processing, account opening, credit checks, and document management, while centralizing records and improving collaboration across branches and head office. The results were significant: loan approval time dropped from 3–7 business days to 1–2 days, monthly asset finance applications rose from 50–150 to 300–600, document transfer time fell from 24 hours to seconds, and the bank reported a 65% reduction in turnaround time, 90% productivity improvement, 99% better compliance and quality, and 50% lower operational costs.