Infotech Lead India: Newgen Software has enhanced its BPM-based payment solution for facilitating Direct Debit payments.
“Newgen’s solution for Direct Debit payments has been designed to help banks to automate error-prone processes and efficiently manage electronic fund transfers, while reducing their operational expenses. Further, the system can scale up to offer business benefits across multiple lines of businesses within banks,” said Diwakar Nigam, CEO & managing director, Newgen Software.
With the Direct Debit System becoming mandatory in the UAE, a significant challenge for banks is to upgrade their legacy systems to facilitate straight-through processing of Direct Debits. However, it also presents an opportunity. Faster, safer and easier payments will certainly result in improved customer satisfaction and loyalty. Further, with no more queues at branches for paying bills, bank staff can focus on building relationships and making them efficient and productive.
Newgen offers a unified hub for payments processing (image and non-image based), enabling banks to effortlessly migrate from legacy payment systems to ICCS, EFT, Automated Clearing House (ACH), remote capture, etc.