Old National Bancorp Launches Streamlined Securities-Based Lending Solution with Supernova Technology™

Rhea-AI Summary

Old National partners with Supernova Technology to enhance wealth lending solutions, providing easy and transparent custom lending options for clients

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• Partnership with Supernova Technology enhances wealth lending solutions for Old National, improving the client experience
• Supernova's digital platform expedites access to lines of credit for Old National clients

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With a new digital platform, powered by Supernova Technology, Old National's private bankers can now provide easy, fast, and transparent custom lending solutions without disrupting a client's investment strategies

CHICAGO, Oct. 4, 2023 /PRNewswire/ -- Supernova Technology announces a partnership with Old National Bancorp ("Old National") (NASDAQ: ONB) for their recently enhanced wealth lending solutions, Old National Private Prestige Line of Credit and Old National Private Elite Line of Credit. Supernova is a Chicago-based FinTech company that is a leading solution provider for digital wealth lending solutions.

"Our goal was to expedite access to lines of credit for our clients using a proven digital platform," said Chady AlAhmar, Wealth Management CEO for Old National. "Supernova was the ideal partner to help us get there quickly and improve the client experience in the process."

Supernova is dedicated to building the best-in-class digital solutions to enable banks to provide wealth lending with speed, transparency, and ease of use. By designing a solution centered around advisors and private bankers, Supernova's solution automates the gathering of information from disjointed systems and supports rule-based decisioning and workflow configuration to achieve efficiency and more proactive setup of lines.  Supernova's collateral monitoring and management capabilities enable risk and credit professionals to gain real-time insights on pledged collateral and the health of their loan book by simulating what-if scenarios to mitigate potential risks.

"Gone are the days of manual processes that hinder a client's access to quick liquidity," said Tao Huang, CEO at Supernova. "Old National clients deserve a best-in-class solution that is fast and easy-to-use. We are thrilled to add Old National to the list of firms using Supernova to help drive exceptional customer experience and satisfaction."

About Supernova Technology™
Supernova Technology™, a financial technology company based in Chicago, has built an industry-leading, fully configurable, end-to-end software solution to automate securities-based lending from origination through the life of the loan. The company empowers banks, wealth management firms, and financial advisors with education and software to deliver a low-interest rate liquidity solution to a broad segment of their clients. Using state-of-the-art risk monitoring systems, Supernova provides a robust level of information, data analytics, and transparency that few in the industry can match. The Supernova Technology Trademark is used under license from Supernova Lending, LLC. 

About Old National
Old National Bancorp is the holding company of Old National Bank, which is the sixth largest commercial bank headquartered in the Midwest. With approximately $48 billion of assets and $29 billion of assets under management, Old National ranks among the top 30 banking companies headquartered in the U.S. Tracing our roots to 1834, Old National Bank has focused on community banking by building long-term, highly valued partnerships with clients and in the communities it serves. In addition to providing extensive services in retail and commercial banking, Old National offers comprehensive wealth management, investment, and capital market services. For more information and financial data, please visit Investor Relations at oldnational.com.

Media Contact: 
Allie Leemputte
allie.leemputte@supernovacompanies.com

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SOURCE Supernova Technology