RAKBANK Selects Newgen’s Trade and Supply Chain Finance Solution to Transform its Business Finance Operations

UAE-based bank to automate its processing of transactions across trade and international business finance for delivering enhanced customer experience

Sharing is caring!

Newgen Software, a global provider of low code digital transformation platform, announced that RAKBANK, a leading financial institution in the UAE market. , has selected Newgen’s Trade and Supply Chain Finance (SCF) solution for digitizing and optimizing its end-to-end business finance processes.

Leveraging Newgen’s Trade Finance and SCF solution, built on a low code digital transformation platform—NewgenONE, the bank can seamlessly automate the origination and processing of transactions. The low code-based configurable solution combines the Trade and SCF portal to connect the front and back-office processing systems, orchestrating the entire customer journey while ensuring compliance with international regulations.  RAKBANK’s customers will have access to an online portal to initiate and track all their transactions, enhancing convenience and service quality. Furthermore, the solution enables robust integration with external applications and empowers users with a real-time performance dashboard for complete operational visibility.

“At RAKBANK, our customers are at the core of everything we do. Through our collaboration with Newgen, we are committed to delivering a seamless and efficient experience for our customers, allowing them to navigate the complexities of trade and supply chain finance with ease. The solution will provide real-time visibility into transactions, automate manual processes, and mitigate risks, enabling our customers to make informed decisions and optimize their financial operations, “said Peter Roberts, Chief Operations Officer at RAKBANK.

“We look forward to leveraging Newgen solution’s expertise and cutting-edge technology to create a more efficient, transparent, and customer-centric trade and supply chain finance ecosystem,” added Peter.

“Our Trade Finance and SCF solution, powered by NewgenONE, offers a combination of low code configurability and comprehensive functionality. By providing a unified front and back-office processing system through the Trade and SCF portal, the solution will enable RAKBANK’s customers to seamlessly connect with the bank to conduct international trade business and supply chain finance services,” said Tarun Nandwani, Chief Operating Officer at Newgen Software.

“We are delighted to support RAKBANK in their digital transformation journey and believe this to be a significant step towards transforming trade and SCF practices in the region,” he further added.

SMEStreet Edit Desk

SMEStreet Edit Desk is a small group of excited and motivated journalists and editors who are committed to building MSME ecosystem through valuable information and knowledge spread.

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Back to top button
%d bloggers like this: