Shawbrook to Leverage nCino to Automate Complex Lending Processes and Optimise Client Portfolios to Achieve Faster Time to Market
nCino, Inc. (NASDAQ: NCNO) announced that Shawbrook, a UK specialist bank, has chosen nCino's cloud-based platform to automate its loan origination processes and expand portfolio management capabilities. This partnership aims to enhance Shawbrook's efficiency, reduce risk, and improve credit risk management. Shawbrook will implement nCino's Automated Spreading Solution, powered by nIQ, to accelerate financial spreading and enable portfolio growth through automated insights.
The collaboration aligns with Shawbrook's 'best of both' strategy, combining human expertise with advanced technology. By consolidating multiple processes into an end-to-end experience, Shawbrook expects to reduce data inconsistency risks, increase flexibility, and improve time to value for clients. This move comes as Shawbrook experiences significant growth and seeks to enhance its services to the SME market.
nCino, Inc. (NASDAQ: NCNO) ha annunciato che Shawbrook, una banca specialistica del Regno Unito, ha scelto la piattaforma basata su cloud di nCino per automatizzare i suoi processi di origination dei prestiti e ampliare le capacità di gestione del portafoglio. Questa partnership mira a incrementare l'efficienza di Shawbrook, ridurre il rischio e migliorare la gestione del rischio di credito. Shawbrook implementerà la Soluzione di Spreading Automatico di nCino, supportata da nIQ, per accelerare lo spreading finanziario e consentire la crescita del portfolio attraverso intuizioni automatizzate.
La collaborazione è in linea con la strategia 'il meglio di entrambi' di Shawbrook, che combina competenze umane con tecnologie avanzate. Consolidando più processi in un'esperienza end-to-end, Shawbrook si aspetta di ridurre i rischi di incoerenza dei dati, aumentare la flessibilità e migliorare il tempo di valore per i clienti. Questa mossa arriva mentre Shawbrook sta vivendo una crescita significativa e cerca di migliorare i suoi servizi per il mercato delle PMI.
nCino, Inc. (NASDAQ: NCNO) anunció que Shawbrook, un banco especialista del Reino Unido, ha elegido la plataforma en la nube de nCino para automatizar sus procesos de originación de préstamos y expandir las capacidades de gestión de cartera. Esta asociación tiene como objetivo mejorar la eficiencia de Shawbrook, reducir el riesgo y mejorar la gestión del riesgo crediticio. Shawbrook implementará la Solución de Dispersión Automatizada de nCino, impulsada por nIQ, para acelerar la dispersión financiera y permitir el crecimiento de la cartera a través de información automatizada.
La colaboración se alinea con la estrategia 'lo mejor de ambos' de Shawbrook, que combina la experiencia humana con tecnología avanzada. Al consolidar múltiples procesos en una experiencia integral, Shawbrook espera reducir los riesgos de inconsistencia de datos, aumentar la flexibilidad y mejorar el tiempo de valor para los clientes. Este movimiento se produce mientras Shawbrook experimenta un crecimiento significativo y busca mejorar sus servicios para el mercado de las PYME.
nCino, Inc. (NASDAQ: NCNO)는 영국 전문 은행 Shawbrook이 대출 발생 프로세스를 자동화하고 포트폴리오 관리 기능을 확장하기 위해 nCino의 클라우드 기반 플랫폼을 선택했다고 발표했습니다. 이 파트너십은 Shawbrook의 효율성을 높이고, 위험을 줄이며, 신용 위험 관리를 개선하는 것을 목표로 합니다. Shawbrook은 nIQ 기반의 nCino 자동 스프레딩 솔루션을 구현하여 재무 스프레딩을 가속화하고 자동화된 통찰력을 통해 포트폴리오 성장을 가능하게 할 것입니다.
이 협업은 Shawbrook의 '최고의 두 가지' 전략과 일치하며, 이는 인간의 전문성과 첨단 기술을 결합합니다. 여러 프로세스를 통합하여 종합적인 경험으로 만들어 나감으로써 Shawbrook은 데이터 불일치 위험을 줄이고, 유연성을 높이며, 고객의 가치를 위한 시간을 개선할 것으로 기대하고 있습니다. Shawbrook은 상당한 성장을 경험하고 있으며 중소기업 시장을 위해 서비스를 개선하고자 합니다.
nCino, Inc. (NASDAQ: NCNO) a annoncé que Shawbrook, une banque spécialisée au Royaume-Uni, a choisi la plateforme cloud de nCino pour automatiser ses processus d'origination de prêts et élargir ses capacités de gestion de portefeuille. Ce partenariat a pour objectif de renforcer l'efficacité de Shawbrook, réduire le risque et améliorer la gestion du risque de crédit. Shawbrook mettra en œuvre la Solution de Dispersion Automatisée de nCino, alimentée par nIQ, pour accélérer la dispersion financière et permettre la croissance du portefeuille grâce à des analyses automatisées.
La collaboration est en phase avec la stratégie 'le meilleur des deux' de Shawbrook, qui allie expertise humaine et technologie avancée. En consolidant plusieurs processus en une expérience de bout en bout, Shawbrook s'attend à réduire les risques d'incohérence des données, accroître la flexibilité et améliorer le délai d'obtention de valeur pour les clients. Cette mesure intervient alors que Shawbrook connaît une croissance significative et cherche à améliorer ses services pour le marché des PME.
nCino, Inc. (NASDAQ: NCNO) gab bekannt, dass Shawbrook, eine Spezialbank aus dem Vereinigten Königreich, die Cloud-basierte Plattform von nCino gewählt hat, um ihre Kreditvergabeprozesse zu automatisieren und die Portfolioverwaltungsfähigkeiten zu erweitern. Diese Partnerschaft zielt darauf ab, die Effizienz von Shawbrook zu steigern, Risiken zu reduzieren und das Risikomanagement für Kredite zu verbessern. Shawbrook wird die Automatisierte Spread-Lösung von nCino, die von nIQ unterstützt wird, implementieren, um die Finanzberichterstattung zu beschleunigen und das Portfoliowachstum durch automatisierte Einblicke zu ermöglichen.
Die Zusammenarbeit entspricht Shawbrooks Strategie 'das Beste aus beiden Welten', bei der menschliches Fachwissen mit fortschrittlicher Technologie kombiniert wird. Durch die Konsolidierung mehrerer Prozesse in ein ganzheitliches Erlebnis erwartet Shawbrook, die Risiken von Dateninkonsistenzen zu reduzieren, die Flexibilität zu erhöhen und die Zeit bis zur Wertschöpfung für die Kunden zu verbessern. Dieser Schritt erfolgt, während Shawbrook ein erhebliches Wachstum erlebt und bestrebt ist, seine Dienstleistungen für den KMU-Markt zu verbessern.
- Shawbrook choosing nCino's platform may lead to increased efficiency and automation in loan origination processes
- Implementation of nCino's Automated Spreading Solution could accelerate financial spreading and improve credit decision speed and quality
- Partnership aims to enhance Shawbrook's ability to react quickly to market demands
- Consolidation of multiple processes into an end-to-end experience may reduce data inconsistency risks
- None.
Insights
Shawbrook's decision to implement nCino's cloud-based platform marks a significant shift in their operational strategy, potentially impacting their market competitiveness and financial performance. The move to automate loan origination processes and enhance portfolio management capabilities could lead to substantial efficiency gains and cost reductions.
Key points to consider:
- The adoption of nCino's out-of-the-box solution suggests a faster time-to-market for new products and services, which could give Shawbrook an edge in the competitive SME lending space.
- The implementation of nCino's Automated Spreading Solution, powered by AI and machine learning, could significantly reduce the time and resources required for financial analysis and credit decisions. This may lead to improved risk management and potentially lower loan loss provisions.
- Consolidating multiple processes into an end-to-end experience should reduce operational risks associated with data inconsistencies, potentially leading to more accurate reporting and better regulatory compliance.
While the financial terms of the partnership weren't disclosed, investors should monitor Shawbrook's future financial reports for improvements in efficiency ratios, loan processing times and customer acquisition costs. The success of this technology integration could serve as a benchmark for other specialist banks considering similar digital transformations.
Shawbrook's partnership with nCino represents a strategic move in the evolving landscape of specialist banking. This collaboration underscores the growing trend of traditional financial institutions leveraging fintech solutions to enhance their operational capabilities and customer offerings.
Several aspects of this partnership are noteworthy:
- By choosing to partner rather than build in-house, Shawbrook is likely aiming to accelerate its digital transformation while minimizing development risks and costs. This approach could become a model for other mid-sized banks facing similar growth challenges.
- The focus on improving the SME lending process is particularly significant. SMEs often face challenges in securing financing and streamlining this process could potentially expand Shawbrook's market share in this underserved segment.
- The emphasis on both customer and employee experience through process automation and intuitive interfaces aligns with industry best practices for digital transformation. This dual focus could lead to improved customer satisfaction and employee productivity.
Investors should watch for changes in Shawbrook's market position within the SME lending space, as well as any improvements in customer acquisition and retention rates. The success of this partnership could also influence nCino's position as a preferred technology provider in the banking sector, potentially impacting its stock performance.
UK specialist bank to eliminate disparate systems in order to reduce risk, achieve data lineage and consistency and enhance credit risk management
LONDON, Aug. 01, 2024 (GLOBE NEWSWIRE) -- nCino, Inc. (NASDAQ: NCNO), a pioneer in cloud banking for the global financial services industry, today announced that Shawbrook has chosen nCino to help automate its loan origination processes, while expanding portfolio management capabilities through nCino’s cloud-based platform. With nCino’s intelligent solutions, Shawbrook’s team will be able to more efficiently complete routine tasks, allowing for more focus on delivering impactful services to the SME market it serves.
Shawbrook, a UK-based specialist bank, is dedicated to delivering premium experiences that clients value. As Shawbrook experienced significant growth, the need for increased speed to market became evident. When considering the approach to evolving its technology stack, Shawbrook saw an opportunity to partner, instead of building a solution in-house. By investing in nCino’s out-of-the-box solution, Shawbrook gained a flexible and agile platform that will allow it to react quickly to market demands.
With nCino, Shawbrook will consolidate multiple processes into an end-to-end experience that reduces data inconsistency risks and provides greater flexibility as the organization matures its IT infrastructure and improves time to value for clients. In addition, Shawbrook will be implementing nCino’s Automated Spreading Solution that is powered by nIQ, nCino’s tool for artificial intelligence, machine learning and analytics. The Automated Spreading Solution reduces the time it takes to spread financials and will enable portfolio growth by empowering Shawbrook with automated insights for improving the speed and quality of credit decisions.
“Our ‘best of both’ strategy combines our deep human expertise with best-in-class technology,” said Russ Thornton, Chief Technology Officer, Shawbrook. “The partnership with nCino and the implementation of their platform will drive a much better experience for our SME customers as well as, and really importantly, our colleague experience through process automation and intuitive user interfaces giving them easy access to the data they need to service customers.”
Neil Rudge, Chief Banking Officer, Commercial, said, “Over the past few years, we have significantly expanded the number of markets we operate in, as well as the size and value of our client portfolios. Implementing the nCino software will enable us to further enhance our exceptional client franchise with a modern, robust, and sustainable origination and servicing platform.”
“Shawbrook has a reputation for challenging traditional banking models and methods and are providing innovative services to an underserved market,” said Charlie McIver, Managing Director of EMEA at nCino. “We’re excited to be Shawbrook’s chosen technology partner as they continue to transform their services to meet the evolving needs of their clients and establish themselves as a leader in this space.”
About nCino
nCino (NASDAQ: NCNO) is the worldwide leader in cloud banking. Through its single software-as-a-service (SaaS) platform, nCino helps financial institutions serving corporate and commercial, small business, consumer, and mortgage customers modernize and more effectively onboard clients, make loans, manage the loan lifecycle, and open accounts. Transforming how financial institutions operate through innovation, reputation and speed, nCino is partnered with more than 1,800 financial services providers globally. For more information, visit www.ncino.com.
About Shawbrook Bank Limited
Shawbrook provides finance to a wide range of customers who value the premium experience, flexibility and certainty we deliver. We are a purpose-led organisation, with a focus on delivering long-term sustainable value for all our stakeholders.
We have a diversified offering, with our innovative lending propositions tailored to meet specific customer needs in carefully selected markets across SME, Real Estate and Personal. Our innovative and specialist lending products range from complex structured credit facilities for growth-focused businesses to mortgages for professional landlords and property investors, as well as simple loans for consumers delivered digitally. We fuel our lending through customer deposits, which we attract by delivering a premium experience, choice and consistently great value to smart savers.
Shawbrook Bank Limited is an operating entity of Shawbrook Group plc. Shawbrook Bank Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority and is a member of the Financial Services Compensation Scheme.
Media Contacts
Natalia Moose
press@ncino.com
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FAQ
What is the purpose of Shawbrook's partnership with nCino (NCNO)?
How will nCino's Automated Spreading Solution benefit Shawbrook?
What is Shawbrook's 'best of both' strategy mentioned in relation to the nCino (NCNO) partnership?
How does Shawbrook plan to improve its services to SME customers using nCino's (NCNO) platform?
