Newgen Partners with BeSmartee to Revolutionise Lending Processes

New Collaboration to Simplify Document-Centric Lending for Enhanced Customer Experience

MCLEAN, Va. — Newgen Software, a global leader in low-code platforms for banking solutions, has announced a strategic partnership with BeSmartee, a top provider of lendtech solutions. The integration between Newgen’s Commercial Loan Origination Solution (CLOS) and BeSmartee’s FlashSpread commercial lending product will improve operational flexibility for lenders, leading to quicker decisions and faster loan disbursements.

This collaboration draws on Newgen’s 30+ years of experience in transforming banking and financial services to meet industry needs. FlashSpread, known for its superior financial reporting capabilities, automates the conversion of scanned tax returns and financial statements into detailed reports, reducing manual involvement.

By leveraging FlashSpread’s data extraction technology, underwriters will save significant time. The automated data capture process, combined with intuitive verification, will also reduce data entry errors. This partnership will greatly shorten underwriting time and improve the experience for both lenders and customers. Newgen’s CLOS will automate data extraction from tax returns and financial statements.

“With Newgen’s expertise in automated banking solutions and BeSmartee’s FlashSpread product, our customers will eliminate paperwork and manual data entry, streamlining the lending process. Together, we’re enabling financial institutions and borrowers to embrace a seamless lending experience,” said Ariel Trybuch, VP of Strategic Partnerships at BeSmartee and founder of FlashSpread.

Anand Raman, EVP and COO at Newgen Software Inc., added, “This partnership between FlashSpread and Newgen is a significant milestone, demonstrating our shared commitment to providing advanced lending solutions for financial institutions and credit unions. Through this integration, lenders will make quicker, data-driven credit decisions, improving efficiency across various loan types.”

About BeSmartee

Established in 2007, BeSmartee facilitates over $25B in digital lending transactions monthly for major financial institutions. By focusing on automating data and processes, BeSmartee helps mortgage and commercial lenders achieve maximum operational efficiency and a competitive edge. Their vision is to digitise every loan in every country. For more information, visit www.besmartee.com.

About FlashSpread by BeSmartee

Acquired by BeSmartee in 2021, FlashSpread is a leader in financial data automation. The platform specialises in extracting, organising, and analysing financial statements, delivering accurate and comprehensive financial insights. Its advanced technology streamlines the traditionally laborious financial spreading process, ensuring faster and more precise data handling.

About Newgen Software Inc.

Newgen is a prominent provider of banking solutions, offering a unified digital transformation platform featuring process automation, content services, communication management, and AI/ML capabilities. From customer onboarding to lending, Newgen’s low-code platform enables businesses to deploy complex, customer-focused applications with speed and flexibility.