TD Bank in commercial lendtech revamp with nCino
nCino signs TD Bank for cloud-based lendtech
Chalk up another big win for cloud-based lendtech vendor nCino. The North Carolina-based fintech has signed a deal with TD Bank in the US that will put nCino’s Bank Operating System to work for the bank’s corporate and commercial lending divisions, reports David Penn at Finovate.
The technology is already live with employees in the TD Equipment Finance department. nCino’s platform will give prospective business borrowers faster decisions on their loan requests, as well as add transparency to the loan process. The Bank Operating System will also enable the bank’s credit risk management, sales, and underwriting professionals to benefit from insights into TD Bank’s commercial lending portfolio and better collaborate on deals. Built on top of Salesforce.com, nCino’s Bank Operating system features CRM, loan origination, account opening, workflow, content management, business process management, customer engagement, and instant reporting all on a single platform.
“It’s great to see employees at TD Bank already experiencing many of the benefits of the nCino Bank Operating System – from greater efficiency to increased productivity to an elevated customer experience,” nCino CEO Pierre Naudé says. “We see this collaboration between our organisations as a natural fit.”
Anthony Sasso, president of TD Equipment Finance, adds: “As the bank continues to deliver on its vision to transform commercial lending, it’s essential that we have the best tools and technology to help our customers achieve their financial objectives.” TD Bank has more than nine million customers and 1,200+ locations in the US northeast and mid-Atlantic regions, as well as in metropolitan DC, the Carolinas, and Florida. TD Bank is a subsidiary of Canada’s Toronto-Dominion Bank.
Earlier this month, nCino partnered with Yorkshire Building Society in the UK, which will use Bank Operating System to enhance its corporate lending efforts.
Also this month, nCino announced that it was teaming up with consulting firm, Enforce, to help community-based financial institutions adopt cloud-based solutions.
The company began 2018 with a pair of big headlines: an investment round led by Salesforce Ventures that took nCino’s total capital to more than $81 million, and a deal with the world’s largest credit union, Navy CU, with more than $87 billion in assets.
