Newgen Wins Contracts From 7 UAE Banks

Newgen Software Technologies, a provider of Business Process Management (BPM) and Enterprise Content Management (ECM) solutions has bagged contracts from 7 banks in UAE. Newgen will deploy its solution - Cheque Truncation System (CTS) to make the cheque clearing process more efficient.

Diwakar Nigam, managing director, Newgen Software Technologies, said, "CTS promises to bring multiple benefits to customers by substantially reducingthetime taken to clear the cheques as well as to the banks by enabling them to offer better customer services and increasing operational efficiency by cutting down on overheads in physical clearing."

Based on BPM platform, Newgen's Cheque Truncation System (CTS) is an image-based cheque clearing system, which replaces the physical cheque flow with electronic information flow throughout clearing cycle. Newgen is deploying CTS on its BPM platform to help the banks in automating their processes for better control.