Australia’s Summerland Bank taps nCino for loan origination solution
US cloud banking solutions vendor nCino has been tapped by Australia’s Summerland Bank to enhance its loan origination capabilities.
Summerland Bank taps nCino for loan origination solution
John Williams, Summerland Bank CEO, anticipates that the new partnership will improve its “customer digital experiences” and help scale the firm’s loan books.
The Aussie mutual bank will leverage nCino’s Cloud Banking Platform across its consumer and business lending operations.
Summerland says nCino’s tech will provide a single system of interaction and automate processes to streamline loan originations for both its commercial and consumer offerings, such as car loans, credit cards, personal and business loans, mortgages, and overdrafts.
Founded in 2011, nCino, which operates a Software-as-a-Service (SaaS) cloud banking platform and claims to serve 1,850 financial organisations globally, asserts that it will help accelerate the bank’s “time to approval and disbursement” of loans by reducing “manual effort and re-keying of data”.
Speaking on the new partnership, Mark Bernhardi, managing director of APAC at nCino, believes the company’s solutions will “modernise” Summerland’s operations and enable the bank to scale in “today’s competitive landscape”.
Summerland joins a growing list of banks that have leveraged nCino’s technology recently, including Scottish challenger Alba Bank, the UK’s OneSavings Bank, and US-based community bank Honor Bank.
