Newgen Recognized In The Gartner Market Guide For Commercial Loan Origination Solutions 2023 Report
Newgen, a global provider of a unified low-code
platform for end-to-end automation at scale, is proud to announce that it was
recognized in the Gartner Market Guide for Commercial Loan Origination
Solutions (CLOS), 2023, report. The report emphasizes the evolving CLOS
landscape, highlighting trends such as increased collaboration between fintech
and incumbent vendors, the importance of flexible software design, and the role
of technologies like artificial intelligence (AI) and open APIs in enhancing
CLOS capabilities.
According to Gartner, “CLOS is a software
application that enables lending institutions to manage the end-to-end process
of opening lending products, from application through underwriting and closing,
for businesses of different sizes. These can be consumed as on-premises
software, cloud-based SaaS, integrations and API, and white-labeled solutions.”
Newgen’s commercial lending solution is built on
its low-code platform, NewgenONE, offering a comprehensive suite of
commercial banking solutions tailored to meet the diverse needs of commercial
clients, ranging from SMEs to large enterprises. The platform empowers
financial institutions to provide intuitive digital services, expedite lending
decisions through AI-driven insights, manage risks efficiently, adapt swiftly
to evolving regulations, identify new lending opportunities, and build
long-term, profitable relationships in business banking.
“We believe this recognition
validates our commitment to delivering innovative and tailored solutions to meet
the dynamic needs of commercial banking. Newgen remains dedicated to empowering
financial institutions with cutting-edge technology for efficient and
profitable business banking operations”, said Runki Goswami,
Global Head of Marketing at Newgen Software.
To access the complete report, read the
Market Guide for Commercial Loan Origination Solutions (CLOS) 2023.
Additionally, click here to
learn more about how Newgen transforms Commercial Lending Functions.
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