Shawbrook taps nCino for automated SME loan origination
UK-based SME lender Shawbrook has selected nCino’s cloud-based banking platform to automate its loan origination and portfolio management processes.
Shawbrook selects nCino for loan origination tech
The bank is to leverage the platform to “automate complex lending processes” and “optimise client portfolios to achieve faster time to market”, nCino says.
The platform supports “a wide range of lending products”, according to the vendor’s website, as well as automated workflows, document management, real-time reporting, onboarding, and other capabilities around loan processing.
Shawbrook also plans to use nCino’s tech to “eliminate disparate systems in order to reduce risk, achieve data lineage and consistency, and enhance credit risk management”.
To this end, the bank will also implement nCino’s automated spreading solution, which is designed to automate the process of spreading financial statements as a core element of credit analysis and risk decisioning.
The solution is powered by nIQ, which comprises the vendor’s AI and machine learning tools, and which nCino says will enable Shawbrook to grow its lending portfolio with “automated insights for improving the speed and quality of credit decisions”.
Commenting on the implementation, Shawbrook CTO Russ Thornton says he expects the platform to “drive a much better experience” for its SME customers and internal workforce through “process automation and intuitive user interfaces giving them easy access to the data they need to service customers”.
Neil Rudge, chief banking officer of commercial at Shawbrook, says the implementation coincides with the expansion of both the bank’s market footprint as well as the size and value of its client portfolios.
The bank previously expanded its commercial lending remit when it announced its acquisition of Bluestone Group’s UK mortgage lending and portfolio servicing operations in March last year.
The month before, Shawbrook also unveiled integrations with Pegasystems for automated underwriting and Cashflows for streamlined business finance payments.
