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The market guide can help CIOs at banks evaluate commercial lending solutions on the basis of their customizable features, workflow capabilities, APIs, and functions, among other things.
NOIDA, India, Feb. 1, 2024 /PRNewswire/ -- Newgen, a global provider of a unified low-code platform for end-to-end automation at scale, is proud to announce that it was recognized in the Gartner Market Guide for Commercial Loan Origination Solutions (CLOS), 2023, report. The report emphasizes the evolving CLOS landscape, highlighting trends such as increased collaboration between fintech and incumbent vendors, the importance of flexible software design, and the role of technologies like artificial intelligence (AI) and open APIs in enhancing CLOS capabilities.
According to Gartner, "CLOS is a software application that enables lending institutions to manage the end-to-end process of opening lending products, from application through underwriting and closing, for businesses of different sizes. These can be consumed as on-premises software, cloud-based SaaS, integrations and API, and white-labeled solutions."
Newgen's commercial lending solution is built on its low-code platform, NewgenONE, offering a comprehensive suite of commercial banking solutions tailored to meet the diverse needs of commercial clients, ranging from SMEs to large enterprises. The platform empowers financial institutions to provide intuitive digital services, expedite lending decisions through AI-driven insights, manage risks efficiently, adapt swiftly to evolving regulations, identify new lending opportunities, and build long-term, profitable relationships in business banking.
"We believe this recognition validates our commitment to delivering innovative and tailored solutions to meet the dynamic needs of commercial banking. Newgen remains dedicated to empowering financial institutions with cutting-edge technology for efficient and profitable business banking operations," said Runki Goswami, Global Head of Marketing at Newgen Software.
To access the complete report, read the Market Guide for Commercial Loan Origination Solutions (CLOS) 2023. Additionally, click here to learn more about how Newgen transforms Commercial Lending Functions.
Disclaimer: GARTNER is a registered trademark and service mark of Gartner, Inc. and/or its affiliates in the U.S. and internationally and is used herein with permission. All rights reserved. Gartner does not endorse any vendor, product, or service depicted in its research publications and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner's research publications consist of the opinions of Gartner's research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
About Newgen Software Technologies Ltd.
Newgen is the leading provider of a unified digital transformation platform with native process automation, content services, communication management, and AI/ML. Globally, successful enterprises rely on Newgen's industry-recognized low-code application platform to develop and deploy complex, content-driven, and customer-engaging business applications. From onboarding to service requests, lending to underwriting, and many use cases across industries, Newgen unlocks simple with speed and agility.
For more details, visit www.newgensoft.com
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