Bank of the Bahamas goes live with Newgen Software

Bank of the Bahamas has gone live with Newgen Software to support its account opening, retail origination, and commercial lending operations.

Bank of the Bahamas wants to revamp its loan processes

The vendor says it will enable its new customer to “bridge operational silos, digitise paper-based processes, and ensure compliance”.

It adds the bank will soon have a single self-service portal, integrated with its core banking system, to cover the loan process “end to end”.

Bank of the Bahamas launched in 1970 as Bank of Montreal. It offers retail and corporate services and operates 13 branches across eight islands in the archipelago.

Ian Thompson, the bank’s corporate manager for credit risk, says the bank aims to shorten loan and account processing, reduce overall costs, and decrease turnaround times.

Thompson praises the Newgen team, adding the go-live was both “timely and successful”.