Case Study: Largest Non-profit Cooperative Financial Institution achieves streamlined retail loan origination and seamless online account opening with Newgen Software

US-based Credit Union Streamlines its Retail Loan Origination and Online Account Opening Processes with Newgen

A US-based, not-for-profit credit union with $1.3 billion in assets, ten branches and more than 62,000 members was struggling with inefficient online consumer lending and account opening processes. Manual interventions, broken back-office workflows, poor integration with modern systems and resulting compliance risks led to application abandonment, human error and operational bottlenecks.

Newgen implemented its Online Account Opening and Retail Loan Origination solutions to digitize onboarding, automate end-to-end workflows, and integrate via APIs with the credit union’s Fiserv XP2 core system. The user-centric, agile platform reduced manual work, improved data consistency and regulatory adherence, lowered abandonment rates while increasing conversions, and delivered a noticeably better member experience and operational efficiency.