UK challenger to utilise nCino's cloud-based Bank Operating System to develop seamless and effective processes for its SME lending business
LONDON, March 21, 2019 /PRNewswire/ -- nCino, the worldwide leader in cloud banking, today announced a relationship with newly launched, UK-based start-up, Project BankNorth, to set a new standard of excellence in the way SME funding is delivered.
In an increasingly competitive SME market, the Project BankNorth team recognises the demand for offering an unmatched customer experience that effectively, proactively and flexibly serves the unique borrowing needs of business owners and entrepreneurs. Through a combination of BankNorth's strategic approach and nCino's innovative technology, the collaboration will deliver the speed, convenience and digital experience that today's consumers have come to expect, while also providing the BankNorth team with real-time, 360-degree access and insight into the entire customer journey to better serve individual needs.
"Delivering an agile, digital and personalised customer experience is at the heart of our strategy at Project BankNorth," said Jonathan Thompson, Founder and CEO. "It's critical we provide a smooth and innovative interface for our customers and introducers in order to deliver a fantastic customer experience. Working with nCino early on in our development allows us to tailor our whole business around delivering an engaging and differentiated customer experience, and I am confident nCino will be the perfect partner for our success in getting these elements right."
Ewan Hutton, CTO at Project BankNorth adds: "The choice of nCino for our Commercial Loan Origination system is perfectly aligned to our technology roadmap as nCino has set a new 'bar' for vendor solutions in this space both in terms of product and client engagement. We will operate almost entirely using Cloud/SaaS technology and will leverage the platform as the foundation for the bank which will enable best of breed integration with complementary tech plus rapid innovation."
nCino's Bank Operating System will empower BankNorth employees and leaders with a cloud based platform that provides true insight into the bank through an end-to-end solution that combines customer relationship management (CRM), customer onboarding, deposit account opening, loan origination, workflow, credit analysis, enterprise content management and instant reporting capabilities. In addition, the system will help drive revenue and enable data analytics that will strengthen the broker journey to compress the time to cash and deliver at a pace to give a true competitive advantage.
Project BankNorth is targeting to launch in 2020 and is the creation of six founders all hailing from the finance industry with combined experience from Atom Bank, Santander, RBS, First Direct, International Personal Finance and Metro Bank. With nearly 6 million SMEs in the UK, the BankNorth team understands customers' expectations and the importance of removing friction in the way SME finance is delivered. For more information, please see: https://info.growthfunders.com/banknorth
Pullen Daniel, Managing Director – International at nCino, said: "The BankNorth team is extremely experienced and well-regarded, and were able to identify a gap in the SME market upon which to build their unique offering. As an up-and-coming challenger, we're delighted to be working with them at such a pivotal stage in their launch to help shape their processes and raise the bar for convenient and flexible delivery of personally-tailored services to SME owners."
About Project BankNorth
Project BankNorth is a start-up challenger that is being developed to serve the UK SME lending market. The team is taking its deep insight into the market for lending to UK SMEs and using this to place the customer right at the heart of its business model. The result will be flexible, fast-paced and borrower-friendly.
nCino is the worldwide leader in cloud banking. With its Bank Operating System, built on the Salesforce Platform, financial institutions can deliver the speed and digital experience that customers expect, backed by the quality and transparency that bankers need. Follow @nCino or visit www.ncino.com.