Newgen Unveils Global Trade Finance Platform in Middle East

Newgen Software Technologies Ltd., a global leader in low-code digital transformation solutions, has officially launched its cutting-edge trade finance platform in the Middle East. This advancement allows banks and financial institutions across the region to unify and digitize their disparate and rigid legacy systems, aiming to enhance scalability and efficiency while unlocking new growth opportunities.

World’s First Low-Code, End-to-End System

The new platform is the world’s first low-code, end-to-end automated system designed for orchestrating user journeys within the financial sector. It delivers exceptional speed and seamless experiences for both banks’ customers and employees. Built on the NewgenONE digital transformation platform, the software offers a rapid and sustainable solution for streamlining trade finance. It integrates content within applications to provide real-time access to diverse information across organizations.

AI-Powered Analytics and Enhanced Risk Management

Powered by AI-based analytics, the platform performs trade intelligence on transactional and regulatory behaviour. This capability enables users to enhance risk management and prevent fraud. The advanced technology reduces manual data entry, improves customer communication, and strengthens compliance and data security. Additionally, it supports cost savings and boosts productivity by automating processes such as bank guarantees, invoice financing sales, export and import collections, and letters of credit.

Vivek Bhatnagar, Region Head, Middle East & Africa, Newgen Software Technologies Ltd., said: “Traditionally, banks have struggled to digitise trade financing operations because the hyper-specialised tools typically involved in this process are niche, expensive and – in many cases – lead to the creation of more silos. With the launch of Newgen’s advanced trade finance platform, our Middle East customers can now configure and automate their trade finance activities while unifying and integrating disparate systems and services in a quick and agile manner.”

Comprehensive Automation and Compliance

Newgen’s platform automates every facet of trade finance, including document digitization, data extraction, intelligent routing, and decision-making. It also manages communications and executes straight-through trade transactions, including complex charge calculations. The platform offers built-in compliance support that covers both international and domestic regulations. It features robust integration capabilities and advanced cloud and functional architecture, allowing organizations to configure the system according to their specific needs—be it centralized, decentralized, or hybrid.

Supporting Economic Growth in the Gulf

The regional launch of Newgen’s trade finance platform is a testament to its ongoing commitment to supporting customers in the Middle East. Last year, Newgen opened a new office in Riyadh, Saudi Arabia, complementing its existing facility in Dubai, UAE, and broadening its presence in the Gulf region. According to the UAE Ministry of Economy, small and medium enterprises (SMEs) made up over 94% of the total number of companies in the Emirates and employed approximately 86% of the nation’s private-sector workforce. By providing advanced low-code solutions like its trade finance platform, Newgen aims to address the challenges faced by regional lenders in financing SMEs.

Strong Financial Performance and Global Presence

The Middle East launch comes on the heels of a significant growth period for Newgen, which achieved its highest-ever quarterly revenue of $43.33 million in Q4 of its 2024 financial year. Profit after tax exceeded $12.08 million for the first time in a single quarter. Newgen now operates in 74 countries and has developed applications across 17 different verticals. Its low-code application platform is trusted by leading banks, insurance companies, healthcare organizations, governments, telecom companies, and shared service centers worldwide.

Vivek added; “We are delighted to bring our world-leading trade finance platform to the Middle East market. Fast and seamless, it will deliver a better experience for banks as well as the businesses they serve. We look forward to working with customers from across the region to unify and digitise their trade finance activities while unlocking the door to fresh growth opportunities.