Newgen Software and Finastra Collaborate to Revolutionize Lending Processes

Newgen Software, a global provider of low-code platforms, has announced a strategic partnership with Finastra, a global financial software applications provider. The collaboration aims to enhance Newgen’s loan origination solutions and integrate them with Finastra’s LaserPro. Through API-driven integration, the partnership simplifies the creation of loan documents, covering various consumer collaterals, while minimizing manual effort by eliminating the need for data mapping. The solution, which integrates with core banking and third-party systems, aids banks in complying with regulations such as Reg B, Reg O, CRA, HMDA, 1071, etc. The intuitive setup enables quick integration, completing the process within a few days. Finastra’s Cheryl Anderson highlighted the industry-leading compliance of the LaserPro platform in loan documentation, emphasizing the collaboration’s benefits. Anand Raman, EVP & COO at Newgen Software Inc., emphasized how this partnership empowers LaserPro customers with advanced API-based integration, accelerating financial processes for enhanced efficiency. Newgen’s lending solutions, featuring AI-enabled underwriting, rule-driven decisioning, real-time dashboards, and document management capabilities, streamline various aspects of the loan process, from application management to portfolio management and instant disbursements on channels, fostering improved collaboration.