Newgen Software has announced the launch of a trade finance platform in the Middle East, aimed at digitalising operations and unlocking new growth opportunities. Following this announcement, banks, financial institutions, and companies across the region of the Middle East will have the possibility to use Newgen’s optimised secure platform in order to unify and digitise rigid legacy systems.

This process will enable them to achieve scale and efficiency, while also unlocking new opportunities for development. In addition, Newgen Software will continue to focus on meeting the needs, preferences, and demands of clients and customers in an ever-evolving market, while also prioritising the process of remaining compliant with the regulatory requirements and laws of the local industry. More information on the product launch Newgen’s trade finance platform was developed as a low-code, end-to-end automated system, capable of orchestrating user journeys in the financial sector, as well as delivering speed and secure experience for banks’ clients and employees.

Built on the NewgenONE digital transformation platform, the software is expected to provide a fast and sustainable way to streamline trade finance embedding content within applications in order to facilitate real-time access to disparate information and data from across an organisation. The platform was powered by AI-based analytics as well, with the aim to run trade intelligence on transactional and regulatory behavior. This will enable users to optimise risk management and prevent fraud.

At the same time, the software technology allows customers to reduce manual data entry requirements, as well as improve client communications, and implement enhanced compliance and data security. This process takes place while driving cost savings and optimised productivity as well. In addition, the service can also be leveraged in order to streamline the intake of requests across channels, while also automating processes such as bank guarantees, invoice financing sales, letters of credit, export and import collections, and more.

Clients will have the possibility to leverage the trade finance platform’s compliance support in order to span international and domestic regulations for banks, financial institutions, and governments. Furthermore, the software also features robust integration capabilities, as well as improved cloud and functional architecture. This allows organisations to configure the system based on the model that best suits their needs and requirements, whether centralised, decentralised, or hybrid.

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