Newgen Software, a global provider of a low-code platform for end-to-end automation at scale, announced that Centennial Bank, based in Arkansas, has partnered with the IT company to enhance its customer experience. The bank is all set to digitize the deposit account onboarding process for retail and commercial customers.

The bank had been experiencing high manual intervention, which hindered its ability to provide unified online account opening. Recognizing the urgent need for transformation, Centennial Bank decided to partner with Newgen and implement the Deposit Account Opening solution, which would result in a frictionless experience for customers.

Steven Gutierrez, Digital Onboarding Director - Deposits, Centennial Bank, said, "Newgen has proven to be a true partner in our efforts to improve the online account opening experience for our customers. The flexibility of their low-code platform allowed us to accommodate our three brands under one solution easily and made the implementation seamless."

Speaking about the partnership, Anand Raman, EVP and COO of Newgen Software, said, "Our solution addresses the unique challenges faced by financial institutions, empowering them to thrive in a digital-first world. The integration with the existing core system will eliminate the challenges of manual processes and streamline deposit account opening processes for both consumer and business banking needs."

Newgen's low-code-based onboarding solution will help the bank attain a substantial improvement in customer service, a potential reduction in operational costs, and better compliance adherence.