The FTC received 5.7 million fraud and identity theft reports in 2025, with 1.4 million being identity theft cases. Shocking, right? That’s why identity verification matters now more than ever.

Newgen Software and HyperVerge both offer strong verification solutions, but serve different needs. Newgen Software focuses on process automation and financial data management, helping businesses streamline workflows. HyperVerge specialises in AI-powered identity verification, ensuring fast and accurate KYC, KYB, and fraud detection.

But which solution suits your needs – NewgenSoft or HyperVerge? This article breaks down their key features and strengths to help you decide. 

What is Newgen Software? 

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Newgen Software is an AI-powered platform and identity verification solution that helps businesses automate their processes. It simplifies document management, financial data handling, and customer onboarding.

What sets Newgen apart is its suite of AI-powered agents that streamline tasks like KYC verification, credit decision-making, and debt collections. These AI agents leverage machine learning, natural language processing, and predictive analytics to accelerate decisions, reduce manual work, and enhance compliance. 

With capabilities like intelligent document processing, robotic process automation (RPA), and seamless integration with existing systems, Newgen offers a future-ready solution.

Key features and functionalities

Here are some of the key features of Newgen Software to give you a better idea of what it can do:

Workflow automation: Newgen helps you assign tasks, track progress, and reduce delays. This reduces manual work and keeps things moving quickly.

Document management: You can store, organise, and search documents from one place. Features like access control and version tracking keep your files safe and up to date.

Financial data processing: The platform helps banks and finance teams pull data from different sources. It checks and processes the data quickly, which helps speed up tasks like loan approvals.

Compliance support: Newgen keeps your business in line with industry rules. It tracks every action, sets user permissions, and alerts you if something needs attention.

Easy integration: You can plug Newgen into your current tools, such as CRM, ERP, or banking systems. This helps your teams work together without switching between platforms.

Target audience and use cases

Newgen Software is best for companies with heavy paperwork and strict regulations. It’s popular in banking, insurance, and large enterprises. Its everyday use cases include customer onboarding, loan processing, and document-based workflows. 

What is HyperVerge? 

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HyperVerge is an AI-powered identity verification platform that helps businesses verify users quickly and accurately. The platform is built to spot fraud and support regulatory compliance.

HyperVerge uses advanced face recognition and liveness detection to confirm identities in real time. It’s trusted by banks, fintechs, and telecom companies to make onboarding faster and safer.

Key features and functionalities

Here are some of the key features of HyperVerge to help you understand what it can do:

AI-powered identity checks: HyperVerge verifies users within seconds. It pulls data from IDs and matches it with a live face to confirm identity instantly.

Face recognition: The system scans and compares a user’s face with their official ID. This helps ensure the person is who they say they are.

Liveness detection: HyperVerge detects facial movements and checks for signs of life. This prevents fraud attempts using photos, videos, or deepfakes.

KYC and KYB compliance: The platform helps meet legal standards for both individual and business verification. It ensures your onboarding process follows local and global regulations.

Global support: HyperVerge works across countries and industries. It’s built to support businesses that serve a global user base.

Target audience and use cases

HyperVerge is ideal for businesses that need secure and fast verification.

Banks, fintech companies, and telecom providers use it to onboard customers, prevent fraud, and stay compliant. It’s a strong choice for any business that handles high volumes of verifications and values security.

How Did We Evaluate the Two Products?

We conducted a NewgenSoft vs. HyperVerge analysis based on features, pricing, and user reviews. We aimed to find which one best fits different business needs and solves challenges in online identity verification. We checked their core functions, ease of use, and value for money. We also looked at their strengths and weaknesses to see which is better.

We used G2 and Capterra for real user feedback, which have detailed user reviews. We also checked Reddit for real-world opinions to help us understand how well each platform performs. 

Overview of Newgen Software vs. HyperVerge

Newgen Software excels at process automation and financial data management. On the other hand, HyperVerge excels at AI-driven identity verification and fraud detection.

This table highlights the key strengths of each platform to provide clarity on NewgenSoft vs. HyperVerge comparison. 

Features	Newgen Software	HyperVerge
Process automation	✔️	✘
Financial data management	✔️	✘
AI-powered identity verification	✘	✔️
Face recognition	✘	✔️
Liveness detection	✘	✔️
KYC & KYB compliance	✔️	✘
Fraud detection	✘	✔️
Document management	✔️	✘
Integration with banking systems	✔️	✔️
Global coverage	✘	✔️

Key comparisons 

Choosing between Newgen Software and HyperVerge can be tricky. Both offer strong verification solutions but serve different needs. Here’s a detailed NewgenSoft vs. HyperVerge comparison to help you decide.

Features 

Both Newgen Software and HyperVerge offer robust solutions, but they focus on different business needs. Newgen is built to automate complex workflows and manage documents. It’s designed for enterprises that handle large volumes of data and require strict compliance controls.

HyperVerge identity verification uses AI to offer fast and secure KYC, KYB, and fraud detection. It is especially useful for onboarding and digital verification at scale.

Feature	Newgen	HyperVerge
Process automation	Automates complex business workflows	Not a core feature
Document management	Stores, organises, and retrieves documents	Limited to document capture for verification
Financial data handling	Processes and validates financial data for tasks like loan approvals	Not applicable
Compliance tools	Built-in tools for compliance and risk management	KYC and KYB compliance with global coverage
AI-powered verification	Basic verification for compliance workflows	Advanced AI for identity checks, face match, and fraud detection
Face recognition	Not core functionality	Matches live faces with ID images

Newgen Software stands out for enterprises managing high volumes of internal documentation and regulatory workflows, especially in sectors like banking, insurance, and government. Its strength isn’t just automation but orchestration: helping large teams collaborate across complex, rule-based processes like claims management or financial reconciliations, all while ensuring audit trails and data integrity.

HyperVerge, on the other hand, is purpose-built for high-growth, digital-first businesses. Think fintech apps, gig platforms, crypto exchanges, or marketplaces where identity verification needs to happen in seconds, not hours. Its AI models are trained for accuracy even in low-bandwidth or poor-lighting conditions, making it ideal for onboarding users in emerging markets. The platform doesn’t just verify identity; it flags fraud patterns, adapts to local document types, and integrates seamlessly with onboarding workflows to reduce drop-offs.

Pricing 

Newgen Software follows a custom pricing model. Costs vary based on business size and needs. It is ideal for large enterprises needing tailored solutions. It provides long-term value for businesses needing process management.

HyperVerge offers three pricing plans: Start, Grow, and Enterprise. 

Start: The Start plan has a 30-day free trial and best suits small companies. 

Grow: The Grow plan is for medium-sized companies 

Enterprise: The Enterprise plan is for larger companies that need a dedicated customer support team.

Target audience 

Newgen Software is best for large enterprises, banks, and insurance firms. It helps businesses manage documents, automate workflows, and ensure compliance. Companies needing end-to-end process automation will benefit the most.

HyperVerge is ideal for fintech startups, telecom companies, and businesses needing a fast identity verification solution. It works well for those handling high-volume KYC, KYB, and fraud detection.

Security 

Both platforms prioritise strong security to protect user data. Newgen Software offers data encryption, role-based access controls, and compliance management. It facilitates seamless integration with industry-leading identity access management tools and protocols, including single sign-on, OAuth2.0, OpenID, LDAP, SAML, and MS Active Directory.

HyperVerge adheres to major data privacy standards, including GDPR and CCPA, to protect customer information. It also complies with AICPA SOC 2 guidelines for secure data storage and processing, preventing electronic identity verification fraud and unauthorised access.

User experience 

Newgen Software focuses on offering a highly customisable experience for users, allowing businesses to tailor workflows to their specific needs. While the interface may seem complex for new users, it offers flexibility and depth for enterprises with intricate requirements. Newgen supports users through comprehensive documentation, training materials, and a dedicated support team, ensuring smooth implementation and ongoing assistance.

HyperVerge excels in delivering a seamless user experience with its intuitive, AI-powered interface. Designed for speed and efficiency, it simplifies the identity verification process, providing quick and accurate results. HyperVerge’s clean dashboard and robust support system ensure that customers receive prompt assistance, minimising any operational downtime.

Integrations 

Newgen Software offers a robust integration ecosystem that connects easily with various enterprise systems. It supports API-based integration, low-code connectors, RPA bots, and pre-built adapters for quick deployment. You can integrate Newgen with core banking systems, CRMs, ERPs, ECMs, third-party apps, legacy tools, and even cloud services.

HyperVerge’s API-first architecture allows seamless embedding of online identity verification tools into your existing onboarding workflows. It connects with over 100 third-party providers across 12 categories, including KYC, KYB, AML, and fraud prevention. With its plug-and-play marketplace, teams can quickly deploy integrations without extensive development effort.

Pros and Cons 

Let’s examine the pros and cons of both verification solutions to help you better choose the right identity verification platform.

Newgen Software Pros

Here are the pros of Newgen software: 

• Scalable AI-first low-code platform: NewgenONE enables rapid development of enterprise-grade applications. Its low-code environment allows for quick deployment and easy scaling, accommodating growing business needs without extensive coding requirements.
• Enhanced customer engagement: With AI-driven tools, NewgenONE personalises customer interactions across multiple channels, improving customer experience and satisfaction.

Newgen Software Cons 

Here are the cons of Newgen software: 

• Steep learning curve: Newgen Software can be challenging for new users. The platform offers many advanced features, which may take time to learn and master without proper training.
• Limited flexibility in custom workflows: While Newgen provides a range of pre-configured workflows, customising them to suit highly specific or evolving business processes can be difficult. 

HyperVerge Pros 

Here are the pros of HyperVerge:

• Low drop-offs during onboarding: HyperVerge’s passive liveness detection works on low-end devices and slow internet connections. On average, it supports over 7,000 phone models and completes onboarding in under 60 seconds, ensuring a smooth and fast experience with up to 80% automation.
• Compliance-ready image capture: HyperVerge’s AI ensures that captured images meet all regulatory standards. It is iBeta certified for passive liveness and ranks among the top 10 globally for facial recognition accuracy, giving businesses confidence in secure and compliant verifications.

HyperVerge Cons 

Here are the cons of HyperVerge: 

• Requires onboarding support: While HyperVerge’s user-friendly interface is attractive, teams may need some initial guidance or training to fully understand and use all its features effectively. 

Hear It Directly from the Users

Are you curious about what real users think of NewgenSoft vs. HyperVerge? Let’s explore customer feedback to see which platform stands out.

What Are Users Saying About Newgen Software?

What Are Users Saying About HyperVerge?

Choose Hyperverge for the Smoothest Loan Management Cycles

In 2023, loan fraud (whether personal or business-related) was ranked as the fifth most frequent form of identity theft. HyperVerge is a powerful solution for loan management. It streamlines the entire process from application to approval. Compared to competitors, it offers faster verification, fewer drop-offs, and higher approval rates. 

Here is why you should choose HyperVerge: 

• Seamless end-to-end journeys: HyperVerge covers the entire loan process. It ensures smooth onboarding, document verification, and approval on one platform. No need for multiple tools.
• Fewer drop-off rates: Many borrowers abandon applications due to slow verification. HyperVerge’s AI-driven automation speeds up the process, reducing frustration and drop-offs.
• Higher approval rates: The platform verifies identities with high accuracy. It prevents fraud while ensuring more genuine applications get approved. Banks and lenders can trust the data.
• Lightning-fast KYC & KYB: HyperVerge performs instant KYC and KYB verification. This speeds up loan approvals and enhances customer satisfaction.
• Real-time fraud detection: Fraud is a big challenge in lending. HyperVerge detects fake identities, altered documents, and suspicious patterns in real time. This helps lenders avoid risky loans.
• Seamless integrations: The platform integrates easily with banking and lending software. This allows lenders to adopt it without disrupting their existing systems.
• Regulatory compliance: HyperVerge helps businesses follow KYC, AML, and data protection regulations. It ensures compliance without adding complexity.

HyperVerge makes loan processing faster, safer, and more efficient. Want to improve your loan approval process? Book a demo today and make loan processing seamless. 

FAQs

1. What does Newgen Software do?

Newgen Software provides digital automation solutions. It helps businesses manage workflows, documents, and customer interactions. It is known for its intelligent process automation and financial data management.

2. What industries use Newgen Software?

Newgen Software is used in banking, insurance, healthcare, and government sectors. It also serves manufacturing and retail businesses. Any industry needing workflow automation can benefit.

3. How does HyperVerge’s AI-driven KYC work?

HyperVerge uses AI to verify identities in real time. It scans and validates documents, detects fraud, and ensures compliance. The system works in under a second, reducing onboarding time.

4. Which is better for Indian businesses: Newgen Software or HyperVerge?

It depends on the need. Newgen Software is best for process automation and data management. HyperVerge is ideal for fast and secure online identity verification. Businesses needing digital identity verification, KYC, and fraud prevention should choose HyperVerge.

5. Can Newgen Software and HyperVerge be integrated with existing systems?

Yes, both platforms support integrations. They work with banking, insurance, and enterprise software. APIs and custom integrations make adoption easy.