BankVic, an Australian mutual bank serving police, emergency, and health workers, has selected the NewgenONE platform from Newgen Software to streamline its day-to-day operations and offer superior member experiences.

Established in 1974 to improve the financial well-being of Victoria Police members and their families, the bank has since grown to more than 100,000 members and expanded to the emergency services, health, and government sectors

Leveraging the AI-enabled, low-code platform – NewgenONE - the member-owned bank has centralised its enterprise-wide workflows. The integrated platform enabled the bank to expand its operations while: maximising efficiency; improving member experiences; and strengthening compliance and risk management

“At BankVic, delivering exceptional experiences to our members is at the heart of all our efforts. We carefully selected NewgenONE because the platform offers so much more than just technology; it has empowered our team and streamlined processes significantly,” said Shane Kuret, CIO of BankVic.

“True innovation stems from strategic planning, skilled execution, and a culture of continuous improvement. These values are integral to us, which is why we partnered with Newgen.”

Gartner Inc. estimates that by 2028, 60% of software development organizations will use enterprise LCAPs as their main internal developer platform, up from 10% in 2024.

It defines enterprise low-code application platforms (LCAPs) as “platforms for accelerated development and maintenance of applications, using model-driven tools for the entire application’s technology stack, generative AI and prebuilt component catalogues.”

Speaking about the partnership, R Krishna Kumar, Australia Business Head, Newgen, said, “We are delighted to collaborate with BankVic as they embrace the future of digital banking.

“Our platform provides all the capabilities banking leaders need to address unique challenges, overcome process inefficiencies, and integrate both internal and external customer journeys. Together, we are leading the charge in creating a new era of efficient, customer-centric banking.”

Newgen has been recognized in 2024 Gartner® Magic Quadrant™ for Enterprise Low-Code Application Platforms. Download a copy of the report HERE.