Newgen Software Revolutionizes Trade Finance In The Middle East with Low-Code Platform Launch

Newgen Software Technologies Ltd., a global provider of low-code digital transformation solutions, has introduced its trade finance platform in the Middle East. This platform aims to help banks and financial institutions in the region unify and digitise their legacy systems, enhancing efficiency and opening new growth opportunities.

Newgen's trade finance platform is the first low-code, end-to-end automated system designed for the financial sector. It offers unmatched speed and seamless experiences for both customers and employees of banks. Built on the NewgenONE digital transformation platform, it streamlines trade finance by embedding content within applications for real-time access to information across an organisation.

Advanced Automation for Ease and Efficiency

The advanced system from Newgen allows banks to automate various aspects of trade finance. This includes digitising documents, automating data extraction and classification, performing intelligent routing and delegation, enabling smart approvals and decisions, managing communications, and executing straight-through trade transactions. The platform also supports complex charge calculations.

Users can benefit from built-in compliance support that covers both international and domestic regulations from banks and governments. The software features robust integration capabilities along with advanced cloud and functional architecture. Organisations can configure the system based on their preferred model—centralised, decentralised or hybrid.

Supporting Economic Growth in the Gulf

The launch of this platform in the Middle East aligns with Newgen's commitment to supporting regional customers. Last year, Newgen opened a new office in Riyadh, Saudi Arabia, adding to its existing facility in Dubai, UAE. This expansion enhances its presence across the Gulf region.

According to the UAE Ministry of Economy, small and medium enterprises (SMEs) made up over 94% of companies in the Emirates last year, employing about 86% of the private-sector workforce. Newgen aims to alleviate challenges faced by regional lenders when financing SMEs through its advanced low-code solutions like the trade finance platform.

The Middle East launch follows a strong year for Newgen, which recorded its highest-ever quarterly revenue at $43.33 million in Q4 of its 2024 financial year. Profit after tax also surpassed $12.08 million for the first time in a single quarter. Newgen now operates in 74 countries and has developed applications for 17 different verticals globally.

AI-Powered Analytics for Enhanced Risk Management

The platform leverages AI-based analytics to run trade intelligence on transactional and regulatory behaviour. This helps users enhance risk management and prevent fraud. The state-of-the-art technology reduces manual data entry requirements, improves customer communications, and implements better compliance and data security—all while driving cost savings and productivity improvements.

Additionally, it streamlines request intake across channels and automates processes such as bank guarantees, invoice financing sales, export and import collections, letters of credit, among others.

Vivek Bhatnagar, Region Head for Middle East & Africa at Newgen Software Technologies Ltd., stated: "Traditionally, banks have struggled to digitise trade financing operations because hyper-specialised tools are niche, expensive and often create more silos. With Newgen's advanced trade finance platform launch, our Middle East customers can now configure and automate their activities while unifying disparate systems quickly."

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."