Old Second National Bank partners with Newgen for digital account opening

Newgen Software, a global leader in AI-driven digital transformation, has announced its partnership with Old Second National Bank, one of the oldest financial institutions in the United States. The bank has selected Newgen’s advanced digital account opening and maintenance solution, powered by the NewgenONE low-code platform, to enhance its account management processes.

Newgen’s Digital Account Opening Solution is designed to streamline the online account opening process, offering banks the ability to provide a personalized and omnichannel experience. This solution will automate the entire account opening lifecycle, improving operational efficiency and customer engagement.

Key features include a user-friendly interface, seamless integration with existing systems, and a comprehensive monitoring dashboard. These functionalities will optimize the customer journey by enabling end users to start their banking experience from any device, at any time. Additionally, the solution reduces authentication time, boosts customer acquisition, and lowers abandonment rates. It supports both online and in-branch onboarding, delivering a personalized experience for retail and business customers alike.

Commenting on the collaboration, Sylvia Balogh, EVP of Retail Banking at Old Second National Bank, said, “The Newgen team was incredibly proactive, responsive, and accommodating throughout the RFP and contract process. We are excited to work together towards achieving our goals with speed and efficiency, ultimately bringing value to our customers through this platform.”

Sandeep Hinduja, Vice President – Sales (US) at Newgen, added, “We are thrilled that Old Second National Bank has chosen Newgen as their digital transformation partner. Together, we aim to deliver a seamless customer onboarding experience that will drive innovation and set a new standard for customer satisfaction.”