The bank leverages digital account opening solution to offer a frictionless, personalized, and omnichannel onboarding experience
Newgen Software, a global provider of low code digital transformation platform, announced that Jammu and Kashmir (J&K) Bank has selected Newgen as a digital transformation partner to assist in automating its banking processes.
J&K Bank aims to enhance its customer onboarding experience by leveraging Newgen’s Online Account Opening Solution. This initiative will extend its reach across online and in-branch channels, thereby intuitively guiding customers through the onboarding process.
Newgen’s customer onboarding solution, built on NewgenONE – a low code platform, expedites customer acquisition, reduces the authentication time for customer onboarding from days to minutes, lowers abandonment rates, and simplifies account maintenance. The platform offers a
user-friendly interface, secure verification, and flexible video-enabled know-your-customer (vKYC) with convenient slot booking and digital documentation features.
With a simple online process from home, customers can open accounts hassle-free, eliminating the need for branch visits and paperwork. The solution enhances efficiency, offering a 24/7 omnichannel, personalized experience. Additionally, it seamlessly integrates with third-party systems, streamlines processes with user-friendly workflows, and fosters front-back office collaboration, eliminating information silos.
“We have taken a significant stride in our digital transformation journey to position J&K Bank as a technologically advanced financial institution. Establishing a unified online customer onboarding platform reflects our commitment to offer our customers with an enriched, personalized and secure banking experience. With Newgen’s solution, we are looking to shorten our account opening times, reduce overall costs, and eliminate process bottlenecks,” said J&K Bank in a statement.
“Ensuring a seamless customer onboarding experience is crucial for all financial institutions today. J&K Bank’s trust in us reinforces our credibility as a robust, scalable, and agile platform for automating end-to-end journey of banking customers. We’re delighted to assist the bank in expediting their digital initiatives and are eager to help them reach their business goals,”Sunil Pandita, VP Sales, Newgen Software.