nCino and Accenture Help Vancity Transform Its Commercial Lending Operations
nCino (NASDAQ: NCNO) has partnered with Accenture to support Vancity, Canada's largest community credit union, in modernizing its commercial lending operations through the nCino Bank Operating System. With assets exceeding CA$28.2 billion, Vancity's legacy system was replaced with this cloud-based platform, which manages the loan lifecycle, enhancing efficiency and workflow across various business lines. The implementation was completed on time and within budget, despite challenges posed by the COVID-19 pandemic.
- Vancity successfully implemented the nCino Bank Operating System, enhancing its commercial loan operations.
- The cloud-based platform streamlines workflows and automates tasks, improving operational efficiency.
- The project was completed on time and within budget during the COVID-19 pandemic.
- None.
Canada’s largest community credit union implements cloud-based platform to manage its commercial loan lifecycle
TORONTO, Dec. 01, 2020 (GLOBE NEWSWIRE) -- nCino, Inc. (NASDAQ: NCNO), a pioneer in cloud banking and digital transformation solutions for the global financial services industry, and Accenture (NYSE: ACN) have supported Vancity, Canada’s largest community credit union, in evolving its commercial lending business through the implementation of the nCino Bank Operating System®.
With over CA
Working alongside teams from Vancity and nCino, Accenture helped implement the nCino platform on time and budget, despite the project occurring in the midst of the COVID-19 pandemic — which made the cloud-based nature of the platform particularly important, as Vancity’s members and employees shifted to a remote work environment.
In addition to benefitting Vancity’s commercial loan book, the nCino platform is helping the credit union align processes across lines of business, automate tasks and streamline workflows. Because the nCino Bank Operating System is flexible and configurable, Vancity can continue to customize processes as they see fit to best suit their evolving needs.
“By adopting nCino for our commercial lending operations, we’ve embraced a cloud-based technology with regular updates and releases that will grow along with us and help us remain competitive and agile,” said Nez Aquino, chief risk officer at Vancity. “We see nCino as an incredible value-add to our organization, not only from a platform standpoint, but also as partners along our digital transformation journey.”
“Digital transformation is top-of-mind for commercial banks of all sizes and particularly credit unions as they embrace changing customer dynamics, and deal with aging legacy systems and the pressure to compete in a challenging environment,” said Robert Vokes, Accenture’s Financial Services practice lead in Canada. “Vancity’s decision to evolve its operations and streamline various businesses with nCino’s cloud-based platform will help them deliver an improved, tailored experience that meets the evolving expectations of members and employees. This is a great example of the scalability of nCino’s platform and the deep industry expertise and talents of our people to bring it alive with our clients.”
“Vancity is a great Canadian brand and a real leader in the credit union space, and they should be very proud of how they’ve helped to develop the communities they serve,” said Cam Sterrett, area vice president and general manager – Canada at nCino. “With nCino, Vancity has put a foundational system in place that will give them the ability to grow their member-facing digital front end and further fulfill their mission of improving their members’ financial well-being. We very much appreciate the great work our organizations, alongside Accenture, have been able to do together so far and look forward to expanding these relationships into the future.”
About nCino
nCino (NASDAQ: NCNO) is the worldwide leader in cloud banking. The nCino Bank Operating System® empowers financial institutions with scalable technology to help them achieve revenue growth, greater efficiency, cost savings and regulatory compliance. In a digital-first world, nCino's single digital platform enhances the employee and client experience to enable financial institutions to more effectively onboard new clients, make loans and manage the entire loan life cycle, and open deposit and other accounts across lines of business and channels. Transforming how financial institutions operate through innovation, reputation and speed, nCino works with more than 1,200 financial institutions globally, whose assets range in size from
About Vancity
Vancity is a values-based financial co-operative serving the needs of its more than 543,000 member-owners and their communities, with offices and 60 branches located in Metro Vancouver, the Fraser Valley, Victoria, Squamish and Alert Bay, within the unceded territories of the Coast Salish and Kwakwaka’wakw people. With
About Accenture
Accenture is a global professional services company with leading capabilities in digital, cloud and security. Combining unmatched experience and specialized skills across more than 40 industries, we offer Strategy and Consulting, Interactive, Technology and Operations services—all powered by the world’s largest network of Advanced Technology and Intelligent Operations centers. Our 506,000 people deliver on the promise of technology and human ingenuity every day, serving clients in more than 120 countries. We embrace the power of change to create value and shared success for our clients, people, shareholders, partners and communities. Visit us at www.accenture.com.
| MEDIA CONTACTS | |||
| Claire Sandstrom, nCino | Natalia Moose, nCino | ||
| +1 646.520.0710 | +1 910.248.4602 | ||
| csandstrom@mww.com | natalia.moose@ncino.com | ||
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 use of the words “believes,” “expects,” “intends,” “anticipates,” “plans,” “seeks,” “estimates,” “projects,” “may,” “will,” “could,” “might,” or “continues” or similar expressions. Any forward-looking statements contained in this press release are based upon nCino’s historical performance and its current plans, estimates, and expectations, and are not 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 cause these expectations to change and, except as may be required by law, nCino does not undertake any 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. Additional risks and uncertainties that could affect nCino’s business and financial results are included in reports filed by nCino with the U.S. Securities and Exchange Commission (available on our web site at www.ncino.com or the SEC's web site at www.sec.gov). Further information on potential risks that could affect actual results will be included in other filings nCino makes with the SEC from time to time.
FAQ
What recent partnership did nCino announce related to Vancity?
What is the importance of the nCino Bank Operating System for Vancity?
How did the COVID-19 pandemic affect the implementation of the nCino platform?
What assets does Vancity hold?
