nCino wins first German client in Hamburg Commercial Bank
Hamburg Commercial Bank (HCOB) has inked a deal with nCino which will see the German lender deploy nCino’s Bank Operating System.
nCino’s Jens Treskatis says the firm is “well positioned” to support German banks
The implementation forms part of an ongoing digital transformation at HCOB, which serves commercial clients in the real estate and shipping sector. It becomes nCino’s first client in Germany.
HCOB aims to simplify and automate existing financing processes, as well as “unify fragmented systems” to better manage risk.
Through its new system, the bank says it will offer enhanced digital options, increased transparency, and faster credit decision times.
Ian Banwell, chief financial officer at HCOB, says the nCino product suite will “significantly contribute” to the data and IT transformation the bank is undergoing.
He adds: “We followed nCino’s growth and success prior to its decision to go public last year and after a comprehensive due diligence, decided to collaborate with the team.”
nCino floated in July 2020, pricing itself at $31 per share and raising an estimated $250 million in the process.
There were seven banks underwriting the deal, led by Bank of America and Barclays. The funds went to general corporate purposes and working capital. Since then, it has also signed Australian challenger Judo Bank.
“As we continue to enhance the breadth and depth of the nCino platform and expand internationally, we greatly value HCOB’s confidence and partnership,” says nCino CEO Pierre Naudé.
Jens Treskatis, area vice president for Germany at the vendor, adds the firm is “well positioned” to support financial institutions in Germany.
Accenture will provide project management, design, development and testing to support HCOB’s implementation of the nCino platform.
Related: Hamburg Commercial Bank picks Know Your Customer’s onboarding solution
