Newgen Software Secures SAR 15.9 Million Loan Origination Deal In Saudi Arabia

Newgen Software Technologies Ltd, a leading provider of digital transformation solutions, has announced the signing of a major agreement in Saudi Arabia to deploy its loan origination system. The contract, valued at SAR 15.9 million, underscores the company’s expanding footprint in the Middle East and its ability to deliver advanced technology solutions to financial institutions.  

Key highlights from the announcement include  

• The agreement is valued at SAR 15.9 million, reflecting strong demand for Newgen’s solutions.  
• The loan origination system will streamline credit processes, improve efficiency, and enhance customer experience for financial institutions in Saudi Arabia.  
• This deal strengthens Newgen’s regional presence, adding to its portfolio of projects across the Middle East.  
• The company continues to focus on expanding its global reach, with emphasis on banking and financial services.  
• Industry experts view the agreement as a strategic milestone, positioning Newgen as a trusted partner in digital transformation.  
• The project is expected to contribute positively to Newgen’s revenue growth and international market visibility.  

This development highlights Newgen’s growing role in enabling financial institutions to modernize operations and adopt digital-first strategies. With Saudi Arabia’s financial sector undergoing rapid transformation, the partnership positions Newgen to capitalize on future opportunities in the region.  

Sources: Reuters, Economic Times, Business Standard, Mint