Newgen Software has announced a $1.71 million deal to supply a retail loan solution to a Philippines-based retail client, as reported by Whalesbook. The contract underscores the growing demand for digital lending platforms in the Southeast Asian retail sector.
The Indian enterprise software company, listed on the National Stock Exchange as NEWGEN, specializes in automating business processes and content management. Its retail loan solution is designed to streamline credit origination, underwriting, and disbursement for retailers expanding their consumer financing offerings.
The Philippines retail industry has been increasingly adopting digital technologies to enhance customer experience and operational efficiency. This deal positions Newgen Software to capture a larger share of the region's financial technology market, which is projected to grow significantly over the next few years.