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Newgen Launches Its Payment Solution For Direct Debit Mandate
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Monday, July 30, 2012:
Newgen Software, a leading global provider of Business Process Management (BPM), Enterprise Content Management (ECM) and Customer Communication Management (CCM) has enhanced its BPM-based payment solution stack for facilitating Direct Debit payments. Newgen is a leading solution provider in the payments landscape and has implemented Electronic Fund Transfer (EFT) solutions and Image-based Cheque Clearing Systems (ICCS) across the Indian Sub-continent, the Middle East, Africa and the SEA regions.
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Speaking about the advent of the UAEDDS, Mr. Diwakar Nigam –CEO & Managing Director, Newgen Software said, “Newgen's solution for Direct Debit payments has been designed to help banks to automate error-prone processes and efficiently manage electronic fund transfers, while reducing their operational expenses. Further, the system can scale up to offer business benefits across multiple lines of businesses within banks.”
With the Direct Debit System becoming mandatory in the UAE, a significant challenge for banks is to upgrade their legacy systems to facilitate straight-through processing of Direct Debits. However, it also presents an opportunity. Faster, safer and easier payments will certainly result in improved customer satisfaction and loyalty. Further, with no more queues at branches for paying bills, bank staff can focus on building relationships and making them efficient and productive.
Newgen offers a unified hub for payments processing (image and non-image based), enabling banks to effortlessly migrate from legacy payment systems to ICCS, EFT, Automated Clearing House (ACH), remote capture, etc.
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