What is Newgen Software developing for a Saudi bank?

Newgen Software is developing a loan origination system for a leading public sector bank in Saudi Arabia.

What is the value of the Newgen Software deal in Saudi Arabia?

The deal is valued at SAR 15,982,125 (approximately Rs 38.64 crore) and includes licensing and support.

Which country is Newgen Software expanding its services in?

Newgen Software is expanding its services in Saudi Arabia through its subsidiary.

Home / Business and Economy / Newgen Software Bags Major Saudi Bank Deal

Newgen Software Bags Major Saudi Bank Deal

15 Dec

•

Summary

Newgen's Saudi subsidiary secured a significant deal.
The contract involves developing a loan origination system.
The deal is valued at SAR 15,982,125, approximately Rs 38.64 crore.

Newgen Software Technologies has announced a key development through its Saudi Arabian subsidiary, which has inked a deal with a prominent public sector bank in Saudi Arabia. The agreement focuses on the design and development of a sophisticated loan origination system, marking a significant expansion for the company in the region.

The comprehensive order encompasses the provision of a perpetual license for the loan origination system, alongside its implementation and a full year of post-go-live support services. This integrated approach ensures a seamless transition and operational efficiency for the banking client. The aggregate value of this substantial award is SAR 15,982,125, which equates to approximately Rs 38.64 crore, inclusive of all applicable taxes.

This lucrative contract highlights Newgen's expertise in delivering end-to-end software solutions for the financial sector. The company, known for its prowess in workflow automation and document management, recently reported robust financial performance with a 16.2% increase in consolidated net profit for Q2 FY26.

Disclaimer: This story has been auto-aggregated and auto-summarised by a computer program. This story has not been edited or created by the Feedzop team.