The U.K.’s Yorkshire Building Society has deployed nCino’s cloud-based digital Bank Operating System for commercial lending operations, reports Antony Peyton of Banking Technology (Finovate’s sister publication).
This is nCino’s second triumph in the UK – as reported in June 2017 challenger bank OakNorth deployed the same system. In the U.S., ten of the top 30 banks by asset size and the world’s largest credit union, Navy Federal, rely on the Wilmington, North Carolina-based fintech’s cloud-based banking technology.
In this latest deal, Bradford-based Yorkshire Building Society, will use the system to lets its employees make faster decisions and provide funding more quickly to its customers. According to nCino, it completed the deployment in less than 90 days.
Phil Green, head of commercial lending and social housing at Yorkshire Building Society, said: “We invested in the nCino Bank Operating System because it helps automate tasks that were previously paper-based and manual, allowing colleagues more time to deliver differentiated and personalized service.”
The nCino Bank Operating System is built on the Salesforce platform that combines customer relationship management, loan origination, account opening, workflow, enterprise content management, business process management, digital engagement and reporting.
Last month, nCino reeled in investment from Salesforce Ventures. The amount of funding was undisclosed, but the investment adds to the company’s known total capital of more than $81 million.
nCino demonstrated its Bank Operating System at FinovateEurope 2017. Pierre Naudé is CEO.