ASB successfully activates nCino to help transform business lending, Business News


AUCKLAND, New Zealand, July 27, 2022 (GLOBE NEWSWIRE) — nCino, Inc.. (NASDAQ: NCNO), a pioneer in cloud banking and digital transformation solutions for the global financial services industry, today announced that ASB, one of New Zealand’s leading commercial banks, is online at the nCino bank operating system®. ASB deployed nCino’s commercial banking solution as part of its journey to create a single cloud-based platform to better serve its business customers. The nCino platform will provide ASB with key insights and the automation needed to deliver faster response and a streamlined experience for both their bankers and customers.

“Our business lending transformation delivers user-friendly, intuitive, and by design systems and technology. A big part of that is the nCino software platform, which is configured by our team, to help simplify our loan processes. This frees up our employees to provide advice and guidance to our clients, helping them achieve their goals. We are already hearing positive feedback from our pilot users, with the first loan approval being completed shortly after going live,” said Tim Deane, Executive Managing Director of Business Banking at ASB.

The New Zealand bank with assets of $98 billion ($64 billion) sought to replace and consolidate 16 legacy systems and tools, focusing on a platform that would streamline the lending process for their bankers, while providing the ability to advance compliance by design. for regulatory requirements and business processes. This consolidation will provide ASB bankers with more time with their clients that can be spent helping them advance their financial progress. The nCino implementation, alongside Salesforce for business creation, supports the transition of ASB from legacy systems, with continued feature releases as business loans transition from existing platforms.

“We are delighted to be able to partner with such an esteemed institution with a rich history and a commitment to always doing the right thing for New Zealanders,” said Mark Bernhardi, Managing Director of Australia and New Zealand. Zealand at nCino. “The introduction of nCino is part of ASB’s biggest transformation ever in business and enterprise lending. The ASB Bank team was excited to learn and integrate nCino’s technology, which gave them data-driven insights to better serve their customers. We look forward to our continued partnership with ASB Bank as they deliver seamless and personalized services and experiences to their communities.

About nCino
nCino (NASDAQ: NCNO) is the global leader in cloud banking. The nCino Bank operating system® provides financial institutions with scalable technology to help them increase revenue, increase efficiency, reduce costs and comply with regulations. In a digital world, nCino’s unique cloud-based platform enhances the employee and customer experience to enable financial institutions to more efficiently onboard customers, issue loans and manage the entire loan lifecycle, and open depository and other accounts across all lines of business and channels. Transforming the way financial institutions work through innovation, reputation and speed, nCino partners with more than 1,750 financial institutions of all types and sizes globally. For more information, visit www.ncino.com.

About the SBA
The ASB group of companies is one of the largest providers of financial and insurance services in New Zealand. ASB Bank Limited is one of New Zealand’s leading commercial banks, committed to our goal of accelerating financial progress for all New Zealanders through our products, our services and the way we support our community. For more information visit www.asb.co.nz

Media Contacts
APAC
Catalina Garcia, nCino
+61 418 215 423
[email protected]

Holly Ryan, ASB
021 234 7865
[email protected]

This press release contains forward-looking statements within the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally include actions, events, results, strategies and expectations and are often identifiable by the use of the words “believes,” similar expressions. Any forward-looking statements contained in this press release are based on nCino’s historical performance and its current plans, estimates and expectations, and do not constitute a representation that such plans, estimates or expectations will be achieved. These forward-looking statements represent nCino’s expectations as of the date of this press release. Subsequent events may change these expectations and, except as required by law, nCino undertakes no obligation to update or revise these forward-looking statements. These forward-looking statements are subject to known and unknown risks and uncertainties that may cause actual results to differ materially, including, among other things, risks and uncertainties relating to market adoption of our solution and privacy issues. and data security. Additional risks and uncertainties that could affect nCino’s business and financial results are included in nCino’s filings with the United States Securities and Exchange Commission (available on our website at www.ncino.com or on the SEC’s website at www.sec.gov). Further information about potential risks that could affect actual results will be included in other filings by nCino with the SEC from time to time.

main logo

Previous Is it time to get a business credit card for your side business?
Next Castlelake Partners with Aequum Capital to Establish Specialized Lending Platform