Case Study: Saudi Arabia-based financial institution achieves 60% process efficiency improvement and 40% faster approvals in Sharia-compliant financing with Newgen Software

One of the Leading Financial Institutions in Saudi Arabia Enhances its Sharia-compliant Financing with Newgen

A leading Saudi financial institution specializing in Sharia-compliant automotive lending and tailored banking services faced slowing growth due to manual processes and legacy systems. Departmental silos, manual data entry, long turnaround times and compliance risks prevented faster market response and operational efficiency.

Partnering with Newgen, the bank implemented an AI-enabled, low-code digital banking solution to automate end-to-end Sharia-compliant financing, decisioning rules, omnichannel applications and integrations (e.g., Yakeen, Dakhli, SIMAH). The deployment cut application TAT from about 13 days to under 5, sped approvals by 40%, improved processing efficiency by 60–70%, handled 2,200+ applications worth 62M SAR (153 disbursements of 11M SAR) and enabled migration of 25,000 applications, while strengthening compliance and customer experience.