PwC Australia Assists RedZed to Transform Mortgage Lending with nCino's Mortgage Solution
nCino (NASDAQ: NCNO) announced its digital transformation partnership with RedZed, an Australian mortgage lender for the self-employed, implementing the nCino Bank Operating System® to streamline their mortgage origination process. The collaboration aims to enhance automation, improve loan volume, and reduce costs. The integrated solution complies with the National Consumer Credit Protection Act 2009 and enables RedZed to manage its client portfolio more effectively. The successful project was executed with the support of PwC Australia, ensuring a smooth transition despite remote work challenges.
- Successful implementation of nCino's Mortgage Solution enhancing RedZed's operational efficiency.
- Improved automation and loan origination process expected to increase loan volume and cut costs.
- Compliance features integrated into the platform align with regulatory requirements.
- None.
Australian mortgage lender completes digital transformation with robust, end-to-end platform
SYDNEY, Australia, March 24, 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 RedZed, an Australian mortgage company for the self-employed, is live on the nCino Bank Operating System®. RedZed selected PwC Australia as their delivery partner, who in conjunction with the nCino team in Australia, were able to transform RedZed’s mortgage lending process and go live on nCino’s Mortgage Solution.
With a growing customer base, RedZed sought a solution that would enable them to automate and standardise their residential mortgage origination process to accommodate an increase in demand while continuing to deliver a flexible and personalised customer-first experience. The financial services company selected nCino and its Mortgage Solution – an integrated solution that spans the entire origination lifecycle, from multi-channel application and pre-approvals through underwriting, offers and closing – to increase automation, improve loan volume, and decrease the cost of writing new loans.
“nCino’s Mortgage Solution exceeded the expectations of everyone in our organisation and will provide our borrowers and lenders with a personalised and integrated experience that is seamless, transparent and simple,” said Stephen Gorman, Chief Credit Risk Officer at RedZed. “With teams from nCino and PwC collaborating across the globe, the implementation process was smooth and efficient. The dependability of both teams led to the phenomenal success of this project.”
The nCino Mortgage Solution provides RedZed with tools to maintain compliance with the National Consumer Credit Protection Act 2009 (NCCP), including Document Manager, form generation, smart checklist, questionnaires, serviceability calculator, and offers and product matrix. These features will help RedZed achieve operational excellence and manage the entire client portfolio with ease, while also connecting RedZed’s front and back-office to enable them to grow more cost effectively and maximize their digital investments.
“nCino is committed to providing a flexible and adaptable platform that enables financial institutions to deliver change at speed,” said Mark Bernhardi, Managing Director of Australia and New Zealand at nCino. “We are proud to partner with RedZed on their digital transformation journey and help them provide a seamless experience for their brokers and customers. Our relationship with RedZed and PwC embodies our mission to transform the financial services industry through innovation, reputation and speed.”
PwC Australia worked closely with the nCino team, embedding the firm’s BXT - business, eXperience, technology - method to put innovation and experience at the core of the project delivery. By leveraging an agile delivery approach, the project team was able to deploy an end-to-end solution quickly, despite most of the work being completed remotely due to the COVID pandemic.
“This project was successful due to the commitment and initiative shown by all three teams,” added Marvin Slocombe, Engagement Lead at PwC. “Strong relationships, innovation and collaboration allowed us to deliver this project with agility and determination. We are thrilled that RedZed selected PwC to integrate nCino’s Mortgage Solution. We look forward to our continued work together to support RedZed to deliver seamless, personalised services and experience to their customers.”
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 enhances the employee and client experience to enable financial institutions to more effectively onboard 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 is partnered with more than 1,500 financial institutions of all types and sizes on a global basis. For more information, visit: www.ncino.com.
About RedZed
RedZed provides simple to understand residential and commercial mortgage solutions for the 2.1 million Australians that are self-employed. RedZed’s product offering is backed by 48-hour turnaround times, a common-sense approach to underwriting, direct access to credit decision makers that understand the nuances of self-employed lending and are prepared to workshop applications with their accredited brokers. For more information, visit www.redzed.com.
About PwC Australia
At PwC Australia, our purpose is to build trust in society and solve important problems. PwC is a network of firms in 155 countries with over 284,000 people who are committed to delivering quality in assurance, advisory and tax services. Find out more and tell us what matters to you by visiting us at www.pwc.com.au
Media Contacts
North America
Sutton Resler
+1 571.236.4966
sresler@mww.com
APAC
Catalina Garcia, nCino
+61 418 215 423
catalina.garcia@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 including, among others, risks and uncertainties relating to the market adoption of our solution and privacy and data security matters. 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
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