Newgen Software aims to onboard 5 customers every year for its low code trade finance platform

Newgen Software, a global provider of digital transformation products, recently launched the world's first low code trade finance platform, which is expected to boost end-to-end automation and empower banks.

Virender Jeet, CEO of Newgen Software, in an interview with CNBC-TV18, said, “The market in trade finance is on a growth path. We expect this industry to grow to around $2.9 billion by 2027. We have already got huge interest from some marquee customers and have started implementing this product. Globally we are looking at 10 to 12 opportunities which we are pursuing across markets.”

“Right now we have two customers who have already onboarded this platform and conversations are going with another 10 to 12 customers. We are looking at marquee customers, maybe if every year we can add five to six that will make a substantial impact on the company’s progress," he added.