Case Study                                                                                      Banking                   ...
Case Study                                                                                                      Banking   ...
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Automation of Trade Finance and other Banking Processes using Newgen’s BPM suite


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Automation of Trade Finance and other Banking Processes using Newgen’s BPM suite

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Automation of Trade Finance and other Banking Processes using Newgen’s BPM suite

  1. 1. Case Study Banking SOLUTIONSN FOR R B U S I N E S SPROCESS S && CONTENTM MANAGEMENT ANAGEMENT Automation of Trade Finance and other Banking Processes using Newgen’s BPM suite For a Leading Private Bank in India Overview The client is one of the leading private banks in India. The bank offers a wide range of banking products and financial services to corporate and retail customersSolution Highlights through a variety of delivery channels and through its specialized subsidiaries and! Automation of more than affiliates in the areas of investment banking, life and non-life insurance, venture capital and asset management. 60 processes! Automation of complete CONTENT The Challenge trade finance factory The Bank was using a BPM platform for its various processes. But they found that processes the existing BPM solution was not flexible enough to make quick changes in processes for continuous process improvement. Incorporating a minute change! Solution across required high programming efforts and costs along with very high process geographies downtime.! Center of Excellence for continuous process The Bank wanted to replace the existing BPM platform and automate its processes on an integrated ECM/ BPM framework for increased process efficiency and improvement and faster reduced turn around time. The processes to be automated were spread across roll-out of new processes different functions and geographies of the bank operations. Following are the key challenges faced by the bank: S O L U T I O S F O BUSINESS P R O C E S ! Dependency on back-end programming to incorporate any changes in the business processes ! High process downtime and cost to make changes in the processes ! Redundancy in user log in and concurrent license consumption ! Seamless integration with disparate third party systems ! Digitization of documents and distributed image capture ! High manual intervention caused high TAT ! Maintenance of data across all processes and operations ! Real time monitoring of operational and functional metrics ! Audit trail of all operations across processes The Newgen Solution The bank was using Newgens distributed scanning tool-OmniScanTM for the TM distributed capture of documents and ECM solution-OmniDocs for archival of digitized documents. TM Newgen implemented the BPM suite-OmniFlow to automate 15 core banking processes on different LOBs out of which the Trade Finance module had 56 processes. The BPM platform was seamlessly integrated with Newgens document TM TM archival solution - OmniDocs and distributed scanning tool-OmniScan . TM OmniFlow provided extensive capabilities to automate processes using a rapid deployment methodology with a wide variety of tools available for modeling of the process flow, definition of tasks and integration with other systems. The BPM platform was seamlessly integrated with Newgens document management TM system-OmniDocs which enabled the digitization of physical documents. Newgen automated processes for banks various lines of businesses. TM Newgens OmniScan solution, which is a production level scanning and capturing tool was tightly integrated with the BPM suite to provide automatic document capture and work item initiation. It was integrated with the underlying TM TM ECM (OmniDocs ) and BPM (OmniFlow ) suites to enable image
  2. 2. Case Study Banking CONTENT MANAGEMENT SOLUTIONS SFORR BUSINESSS PROCESS & C O N T E N T M A N A G E M E N T Key Benefits with transactions. Apart from more than 40 out of box product reports, the ! High speed of transactions Business Activity Monitoring tool provided custom reports for real-time business monitoring. The solution removed manual intervention for data entry, verification ensured desired economy and validation which lead to smoother process and faster TAT. Any changes in the of scale and increased process can be incorporated with minimal process downtime and can be operational efficiency transformed from UAT to the live server in a single click which removes the ! Reduced manual possibilities of errors. intervention caused faster The bank created a Center of Excellence (COE) for the monitoring of all the TAT business processes. Using the BAM tool, the bank monitored the performance and ! Easy change management operational metrics of the processes. The COE, in pursuit of continuous process improvement, incorporated in-flight changes in the business processes with in process with minimal minimal downtime. process downtime ! Optimum usage of The Benefits resources and maximizing The solution provided the following benefits: ! High speed of transactions ensured desired economy of scale and increased the usage of concurrent operational efficiency users by single log in ! Reduced manual intervention caused faster TAT support ! Easy change management in process with minimal process downtime ! Optimum usage of resources and maximizing the usage of concurrent users ! Anywhere-Anytime by single log in support availability of digitized ! Anywhere-Anytime availability of digitized documents documents ! Image enablement for processes ! Image enablement for ! Real-time monitoring of business from dynamic dashboard of BAM ! Comprehensive audit trail facility processes S OLUTION F O B USINES P ROCESS ! Real-time monitoring of About Newgen business from dynamic Newgen Software Technologies Limited is the market leader in Business Process dashboard of BAM Management (BPM) and Enterprise Content management (ECM), with a global footprint of 850 installations in over 45 countries with large, mission-critical ! Comprehensive audit trail solutions deployed at the worlds leading Banks, Insurance firms, BPOs, facility Healthcare Organizations, Government, Telecom Companies & Shared Service Centers. Newgen Software has been positioned in the Magic Quadrant for Business Process Management (BPM) and Enterprise Content Management (ECM). The company has been recognized by distinguished analyst firms like Frost and Sullivan as A Hot Company to Watch for in their global ECM Market report, 2009 and by IDC in its exclusive report “Newgen Software: Global Leader in BusinessNewgen prestigious clients include HSBC Process Management and Document Management Solutions”. Newgen is aBank, Deutsche Bank, Hua Nan Bank, ABN winner of prestigious awards, such as the CNBC-TV18, “Emerging India AwardAmro Bank, ICICI Bank, IDBI Bank, State 2008”.B a n k o f I n d i a , I N G Vys y a B a n k ,CitiFinancial, RAK Bank, Bank of Tanzania, With HSBC and SAP investment, Newgen is one of the rare product companies toMax New York Life, Bajaj Allianz., Unilever, have backing of both leading financial and technology companies of the world.Philips, GE Countrywide, EXL, SatyamNipuna, iGATE, Core 3, Ranbaxy, GSL, Newgens Quality Systems are certified against ISO 9001:2008 and InformationKenyan Airways and SEC Phillipines. Security Standard, ISO 27001:2005. Newgen has been assessed at CMMi Level3. Corporate Office US UAE Newgen Software Technologies Ltd. Newgen Software Inc. Newgen Software Technologies Ltd. A-6, Satsang Vihar Marg, 1364 Beverly Road, Suite 300 YI 46, PO Box 120586 Qutab Institutional Area, McLean, VA 22101 Sharjah Airport International Free Zone New Delhi - 110 067 INDIA Tel: +1-703-439-0703 Sharjah, United Arab Emirates (UAE) Tel: +91-11-4077 0100, 2696 3571 Email: Email: Fax: +91-11-2685 6936 Email: UK Newgen Software Technologies Ltd. 68 Lombard Street,IN-CS-ICI_GTR-01 London EC3V, 9LJ Tel: +44-207-868 1736 Mobile: +44-78154 96669 Email: