Newgen strengthens its foothold through strategic expansions
Newgen is driving digital transformation in the Middle East's financial sector through innovation and strategic investments and it would continue to explore the opportunities in the region, its top official says.
Vivek Bhatnagar, Senior Vice-President and Head of Business for the Middle East and Africa at Newgen Software, said the Middle East is at the forefront of digital transformation and the company has strengthened its foothold through strategic expansions.
'We are exploring opportunities in Bahrain, Oman, and Egypt, where demand for digital transformation is growing rapidly,' Bhatnagar told BTR.
Newgen Software was established more than 30 years ago with a vision to help organisations to achieve operational excellence. The company's first products in the early 1990s were for content management, for imaging and small workflows.
Today, it is established as a leading provider of an AI-enabled unified digital transformation platform with native process automation, content services, and communication management capabilities.
'We have continued to develop our product strategy and revamped our mission statement: 'To transform business by innovatively connecting systems, processes, people, and things,' Bhatnagar said.
Excerpts from the interview:
Can you share an overview of Newgen's journey in the Middle East and its growth in recent years?
Newgen's journey in the Middle East reflects its transformation from a newcomer to a key player in the region's financial technology landscape. Starting with zero presence, Newgen has grown to support over 30+ top-tier financial institutions, enabling them to digitise legacy systems, improve risk management, and enhance operational efficiency.
The company strengthened its foothold through strategic expansions, showcasing its commitment to the region. In 2024, Newgen launched the world's first low-code, end-to-end trade finance platform, a groundbreaking innovation that empowers banks to streamline trade finance operations while maintaining compliance with regional regulations and Islamic finance principles.
By focusing on localisation, innovation, and partnerships, Newgen has tailored its solutions to meet the unique needs of Middle Eastern banks, including Shariah compliance. Newgen has modernised banking and become a trusted partner in the region's digital transformation.
Key collaborations include:
RAKBANK: Unified 200 services into a single workflow, cutting processing time by 25%.
MEDGULF: Digitised motor claims in KSA, improving fraud prevention and efficiency.
Newgen is driving digital transformation in the Middle East's financial sector through innovation and strategic investments.
When did you foray into the UAE market, and how do you evaluate the company's performance so far?
Newgen expanded presence in the UAE market in 2022, marking a strategic move to strengthen its presence in the Middle East. Since its foray, the company has achieved significant milestones, demonstrating strong performance and recognition in the region. Newgen has enabled digital transformation, streamlined operations, and delivered innovative solutions tailored to the unique needs of Islamic finance and regulatory compliance. Here's an overview of its journey and achievements:
Awards and Recognition
Won the Best Process Automation Implementation in the Middle East by The Asian Banker in 2021.
Awarded Best AML/KYC Solutions Provider at the MEA Finance Banking Technology Awards in 2023.
Partnerships and Impact
Newgen's performance in the UAE market reflects its commitment to innovation, customer success, and industry leadership, solidifying its position. Some use cases:
Streamlined lending operations for the world's largest Islamic bank, reducing turnaround time by 40% improving operational efficiency.
Modernised motor claims for a Middle Eastern General Insurance company, achieving 90% straight-through processing (STP) and reducing claims processing time by 50%.
Enhanced SME lending for a leading bank through digitalisation, improving customer onboarding and reducing manual errors.
How has Newgen tailored its offerings to meet the specific needs of businesses in this region?
Newgen has tailored its offerings to meet the specific needs of businesses in the Middle East by deeply integrating Shariah compliance and Islamic finance principles into our products. It has also developed platforms that align with Islamic laws while driving innovation and efficiency. Here's how:
Regulatory Compliance: Solutions comply with central bank mandates, data residency laws, and Shariah-compliant banking.
AI-Driven Trade Finance: The low-code trade finance platform (2024) digitises trade finance and enhances risk management.
Arabic Language Support: Full Arabic language support and AI-powered document classification for faster automation.
Government Digitalisation: Intelligent workflow automation for paperless governance and transparency.
Cloud-first Deployment: Flexible hosting options with data localisation.
Business impact includes faster digital banking, enhanced compliance, cost savings, and personalised customer experiences.
What are the key digital transformation trends shaping enterprises in the Middle East?
The Middle East is witnessing a digital transformation wave, driven by government initiatives, technological advancements, and regulatory requirements. Key trends shaping enterprises in the region include:
Dubai Vision 2030
Focus on smart governance, paperless transactions, and AI-driven public services to enhance efficiency and transparency.
Emphasis on sustainable development and digital innovation to position Dubai as a global technology hub.
Shariah Compliance and Islamic Finance
Growing demand for Shariah-compliant digital solutions that align with Islamic finance principles, such as Murabaha, Ijara, and Sukuk.
Integration of AAOIFI standards and ethical banking frameworks into digital platforms.
Cloud and Data Localisation
Shift to cloud-first strategies with a focus on data residency to comply with local regulations.
Increased use of hybrid cloud models for flexibility and scalability.
Regulatory Compliance
Adherence to central bank mandates, AML/KYC regulations, and data privacy laws.
Implementation of robust audit and reporting tools to meet regional and international standards.
Customer-centric Digitalisation
Focus on enhancing customer experiences through Arabic language support, personalised services, and seamless onboarding.
These trends, combined with initiatives like Dubai Vision 2030 and the rise of Shariah-compliant digital solutions, are driving enterprises in the Middle East to embrace digital transformation, ensuring compliance, innovation, and long-term growth.
How do you see AI and automation driving business efficiency in the region?
Digital transformation has become central to the Middle East's economic diversification, regulatory compliance, and global competitiveness, driven by initiatives like Dubai Vision 2030 and rising customer expectations. AI is playing a vital role by enabling:
Operational efficiency through automation of repetitive tasks and intelligent workflows.
Enhanced customer experiences with personalised services and Arabic language support.
Risk management and compliance with Sharia-compliant banking and AML/KYC regulations.
Trade and supply chain optimisation through AI-driven platforms.
Smart governance with paperless transactions and automated public services.
Sustainability by reducing carbon footprints and supporting ESG goals.
AI is the backbone of the region's digital transformation, driving innovation and efficiency across sectors.
What challenges do organisations in the Middle East face in adopting digital technologies, and how does Newgen address them?
Organisations in the Middle East face challenges such as legacy systems, compliance complexities, and adoption resistance. Newgen addresses these with:
Seamless Integration: NewgenONE connects legacy and cloud systems.
Regulatory Compliance: AI-driven content management ensures adherence to regional regulations.
Low-code Platform: Empowers business users with minimal IT dependency.
Scalable Solutions: Modular approach minimizes costs and delivers fast ROI.
Industry-tailored Innovation: Solutions for BFSI, government, insurance, and healthcare sectors.
Flexible Deployment: On-prem, cloud, or hybrid models for data control and security.
Hyper-personalised CX: AI-driven automation enhances customer engagement.
Newgen empowers enterprises with agility, compliance, and AI-driven innovation.
What differentiates Newgen's approach from other players in the market?
Newgen's competitive edge lies in its comprehensive, agile, and compliance-driven platform. Key differentiators include:
Unified Low-code Platform: Integrates process automation, content services, AI, and customer engagement.
Industry-specific Expertise: Deep understanding of banking, insurance, and government sectors.
Accelerated Implementation: Low-code framework ensures rapid deployment and faster ROI.
Regulatory Compliance: Solutions embed security, auditability, and regulatory adherence.
Newgen delivers scalable, future-ready solutions that drive efficiency and compliance.
How has Newgen helped financial institutions and government entities modernise their operations?
Newgen is modernising banking and government operations and has introduced AI-driven automation for faster and seamless banking for financial institutions. It includes:
60% faster loan approvals with digital origination.
Instant KYC and compliance automation for seamless customer onboarding.
Omnichannel banking powered by AI chatbots and self-service portals.
For government entities, it has introduced paperless governance and smart citizen services, which resulted in:
80% reduction in paperwork through enterprise content management.
Digital portals enabling faster, self-service citizen interactions.
Secure, compliant document processing aligned with regional regulations.
Newgen is transforming banking and governance with cutting-edge technology, driving efficiency, compliance, and exceptional user experiences.
What is your vision for Newgen in the Middle East in general and the UAE in particular over the next five years?
Newgen aims to drive innovation in banking, insurance, government, and enterprises with a focus on AI, automation, and cloud-first solutions. Key goals include:
Expanding Market Leadership: Strengthening presence in key sectors and deepening partnerships.
AI & Automation: Enabling AI-powered process automation and hyper-personalised customer engagement.
Future-ready Financial Innovation: Advancing AI-driven document processing.
Cloud & Hybrid Deployment: Delivering scalable solutions through partnerships with AWS, Microsoft Azure, and Oracle Cloud.
Newgen aims to be the region's leading AI-driven digital transformation partner.
How do you plan to position Newgen as a leader in digital transformation amid growing competition?
Newgen is positioning itself as a leader through:
AI & Automation-first Approach: AI-driven process automation, fraud detection, and predictive analytics.
Low-code Leadership: Unified platform for process automation, content services, and customer engagement.
Industry-specific Expertise: Tailored solutions for banking, insurance, and government sectors.
Strategic Partnerships: Cloud alliances with AWS, Microsoft Azure, and Oracle Cloud.
Newgen delivers faster time-to-market, cost savings, and enhanced customer experiences.
What message would you like to share with enterprises in the Middle East looking to accelerate their digital journeys?
The Middle East is at the forefront of digital transformation. Newgen empowers organisations to automate processes, enhance customer experiences, ensure compliance, and scale with AI-driven innovation. Whether you are a bank, insurer, or government agency, Newgen is your trusted partner for fast, compliant, and customer-first digital transformation.
What are the core markets for Newgen, and which new markets are you planning to explore in the next five years?
Newgen's core markets in the Middle East include the UAE, Saudi Arabia, Qatar, and Kuwait. The company is exploring opportunities in Bahrain, Oman, and Egypt, where demand for digital transformation is growing rapidly.
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