RAKBANK Set to Change its Business enterprise Finance Operations, Selects Newgen’s Trade and Source Chain Finance Solution.

UAE-based lender to automate its processing of transactions across trade and worldwide business finance for delivering improved purchaser experience

Newgen Program, a global service provider of lower code electronic transformation platform, introduced that RAKBANK, a main economical establishment in the UAE sector. , has selected Newgen’s Trade and Provide Chain Finance (SCF) solution for digitizing and optimizing its conclusion-to-stop company finance procedures.

Leveraging Newgen’s Trade Finance and SCF option, developed on a lower code electronic transformation platform-NewgenONE, the lender can seamlessly automate the origination and processing of transactions. The lower code-dependent configurable resolution combines the Trade and SCF portal to hook up the front and again-office environment processing units, orchestrating the overall buyer journey while making certain compliance with global restrictions. RAKBANK’s prospects will have accessibility to an on the net portal to initiate and keep track of all their transactions, boosting advantage and provider good quality. Furthermore, the resolution permits strong integration with exterior purposes and empowers consumers with a serious-time effectiveness dashboard for comprehensive operational visibility.

‘At RAKBANK, our consumers are at the core of almost everything we do. As a result of our collaboration with Newgen, we are committed to offering a seamless and successful practical experience for our shoppers, permitting them to navigate the complexities of trade and source chain finance with relieve. The solution will provide serious-time visibility into transactions, automate handbook processes, and mitigate hazards, enabling our buyers to make knowledgeable choices and enhance their economical operations, ‘said Peter Roberts, Main Operations Officer at RAKBANK.

‘We search forward to leveraging Newgen solution’s expertise and reducing-edge technologies to build a a lot more effective, clear, and buyer-centric trade and source chain finance ecosystem,’ additional Peter.

‘Our Trade Finance and SCF resolution, run by NewgenONE, features a combination of lower code configurability and in depth operation. By furnishing a unified front and again-business office processing process by means of the Trade and SCF portal, the resolution will allow RAKBANK’s shoppers to seamlessly connect with the financial institution to conduct international trade business enterprise and source chain finance products and services,’ said Tarun Nandwani, Chief Functioning Officer at Newgen Software package.

‘We are delighted to assistance RAKBANK in their electronic transformation journey and feel this to be a sizeable phase in the direction of reworking trade and SCF tactics in the region,’ he further extra.


RAKBANK, also identified as the Countrywide Financial institution of Ras Al Khaimah a General public Joint Inventory Business (P.S.C), is one particular of the oldest and most dynamic banking institutions in the UAE. Founded in 1976, the Financial institution underwent a big transformation in 2001, with a change in target from Corporate Banking to Individual and Company Banking.

It also gives Sharia-compliant personalized and organization banking products and services through its Islamic Banking unit, RAK Islamic. For far more data, pay a visit to: https://rakbank.ae

About Newgen Software program Technologies Restricted

Newgen is the foremost provider of a unified digital transformation system with indigenous procedure automation, content products and services, and interaction management capabilities. Globally, successful enterprises depend on Newgen’s field-acknowledged small code application platform to develop and deploy elaborate, material-pushed, and customer-participating company programs on the cloud. From onboarding to support requests, lending to underwriting, and for many additional use cases throughout industries. Newgen unlocks uncomplicated with speed and agility.

For much more facts, check out www.newgensoft.com