Shawbrook to Leverage nCino to Automate Complex Lending Processes and Optimise Client Portfolios to Achieve Faster Time to Market
UK specialist bank to eliminate disparate systems in order to reduce risk, achieve data lineage and consistency and enhance credit risk management
LONDON, Aug. 01, 2024 (GLOBE NEWSWIRE) -- nCino, Inc. (NASDAQ: NCNO), a pioneer in cloud banking for the global financial services industry, today announced that Shawbrook has chosen nCino to help automate its loan origination processes, while expanding portfolio management capabilities through nCino’s cloud-based platform. With nCino’s intelligent solutions, Shawbrook’s team will be able to more efficiently complete routine tasks, allowing for more focus on delivering impactful services to the SME market it serves.
Shawbrook, a UK-based specialist bank, is dedicated to delivering premium experiences that clients value. As Shawbrook experienced significant growth, the need for increased speed to market became evident. When considering the approach to evolving its technology stack, Shawbrook saw an opportunity to partner, instead of building a solution in-house. By investing in nCino’s out-of-the-box solution, Shawbrook gained a flexible and agile platform that will allow it to react quickly to market demands.
With nCino, Shawbrook will consolidate multiple processes into an end-to-end experience that reduces data inconsistency risks and provides greater flexibility as the organization matures its IT infrastructure and improves time to value for clients. In addition, Shawbrook will be implementing nCino’s Automated Spreading Solution that is powered by nIQ, nCino’s tool for artificial intelligence, machine learning and analytics. The Automated Spreading Solution reduces the time it takes to spread financials and will enable portfolio growth by empowering Shawbrook with automated insights for improving the speed and quality of credit decisions.
“Our ‘best of both’ strategy combines our deep human expertise with best-in-class technology,” said Russ Thornton, Chief Technology Officer, Shawbrook. “The partnership with nCino and the implementation of their platform will drive a much better experience for our SME customers as well as, and really importantly, our colleague experience through process automation and intuitive user interfaces giving them easy access to the data they need to service customers.”
Neil Rudge, Chief Banking Officer, Commercial, said, “Over the past few years, we have significantly expanded the number of markets we operate in, as well as the size and value of our client portfolios. Implementing the nCino software will enable us to further enhance our exceptional client franchise with a modern, robust, and sustainable origination and servicing platform.”
“Shawbrook has a reputation for challenging traditional banking models and methods and are providing innovative services to an underserved market,” said Charlie McIver, Managing Director of EMEA at nCino. “We’re excited to be Shawbrook’s chosen technology partner as they continue to transform their services to meet the evolving needs of their clients and establish themselves as a leader in this space.”
About nCino
nCino (NASDAQ: NCNO) is the worldwide leader in cloud banking. Through its single software-as-a-service (SaaS) platform, nCino helps financial institutions serving corporate and commercial, small business, consumer, and mortgage customers modernize and more effectively onboard clients, make loans, manage the loan lifecycle, and open accounts. Transforming how financial institutions operate through innovation, reputation and speed, nCino is partnered with more than 1,800 financial services providers globally. For more information, visit www.ncino.com.
About Shawbrook Bank Limited
Shawbrook provides finance to a wide range of customers who value the premium experience, flexibility and certainty we deliver. We are a purpose-led organisation, with a focus on delivering long-term sustainable value for all our stakeholders.
We have a diversified offering, with our innovative lending propositions tailored to meet specific customer needs in carefully selected markets across SME, Real Estate and Personal. Our innovative and specialist lending products range from complex structured credit facilities for growth-focused businesses to mortgages for professional landlords and property investors, as well as simple loans for consumers delivered digitally. We fuel our lending through customer deposits, which we attract by delivering a premium experience, choice and consistently great value to smart savers.
Shawbrook Bank Limited is an operating entity of Shawbrook Group plc. Shawbrook Bank Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority and is a member of the Financial Services Compensation Scheme.
Media Contacts
Natalia Moose
press@ncino.com
Safe Harbor Statement
This press release contains forward-looking statements within the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally include actions, events, results, strategies and expectations and are often identifiable by use of the words “believes,” “expects,” “intends,” “anticipates,” “plans,” “seeks,” “estimates,” “projects,” “may,” “will,” “could,” “might,” or “continues” or similar expressions. Any forward-looking statements contained in this press release are based upon nCino’s historical performance and its current plans, estimates, and expectations, and are not a representation that such plans, estimates, or expectations will be achieved. These forward-looking statements represent nCino’s expectations as of the date of this press release. Subsequent events may cause these expectations to change and, except as may be required by law, nCino does not undertake any obligation to update or revise these forward-looking statements. These forward-looking statements are subject to known and unknown risks and uncertainties that may cause actual results to differ materially including, among others, risks and uncertainties relating to the market adoption of our solution and privacy and data security matters. Additional risks and uncertainties that could affect nCino’s business and financial results are included in reports filed by nCino with the U.S. Securities and Exchange Commission (available on our web site at www.ncino.com or the SEC's web site at www.sec.gov). Further information on potential risks that could affect actual results will be included in other filings nCino makes with the SEC from time to time.
