nCino named best retail loan origination system in
WILMINGTON, NC, Aug 13, 2020 (GLOBE NEWSWIRE) – nCino, Inc. (NASDAQ: NCNO) today announced that Aite Group has named its cloud-based nCino® banking operating system the best retail loan origination (RLOS) system in the firm’s Aite matrix. analysts: “Transform consumer loans with loan origination systems. “
This assessment is the first time Aite Group has used a matrix, its proprietary vendor assessment framework, to compare RLOS suppliers. The 14 participating vendors were rated on key features and functionality offered, strategic product initiatives, customer service and support, customer training and engagement, product deployment options, types of Consumer loans supported and breakdown of RLOS clientele by type of financial institution and geography.
“NCino’s loan origination capabilities, especially when viewed as part of its larger single digital platform, were already best-in-class; however, recent additions to its analytical and reporting functions further strengthen its retail lending capabilities, ”said Leslie Parrish, senior analyst in the Retail Banking practice of Aite Group and author of the report. “NCino’s banking operating system is designed for financial institutions of all sizes and in all geographies who want to improve the customer experience for onboarding, origination of loans and opening accounts across multiple channels. “
“We initially started our journey with nCino using their commercial banking solution and added their retail banking solution after realizing how nCino has an impact on connecting disjointed systems, creating continuity between business lines. ‘business and customer journey support through any channel,’ said Ryan Storey, director of lending operations at Great Southern Bank. “The adoption of nCino in our retail banking has helped support our efforts to create a compelling digital experience for our customers while maintaining our commitment to providing the most convenient banking services possible. “
Aite Group named nCino as one of the top two RLOS providers on the basis of how its platform can break down an institution’s silos and facilitate the flow of information through the front, middle and back. -office, while helping to ensure compliance with regulatory requirements. . Particular differentiators, according to the analyst firm, are nCino’s document manager function and the portfolio analysis solution. Additionally, nCino was ranked among the best of all vendors featured in the categories of customer strength, customer service, and product features. This recognition comes just months after nCino was ranked No.1 for the second consecutive time in the Aite Group Matrix for commercial loan origination systems.
With nCino’s Retail banking solution, financial institutions can:
- Generate and manage retail loans quickly and efficiently while minimizing risk for lending operations through a single digital platform;
- Take advantage of nCino’s automated underwriting and decision making, instantly generating loan decisions for unsecured, auto, small business, home equity and other term loans;
- Allow their customers to start, stop and restart applications from any device and allow employees to work remotely, in the office or branch, with full permission-based access to everything of the system ;
- Automatically generate several offers according to the type of loan requested and the requirements of the credit policy; and
- Maintain compliance with fair lending regulations while pricing the risk of default.
“We are extremely proud that Aite Group has recognized nCino as one of the leading providers of RLOS that is digitally transforming retail banking to improve the way financial institutions interact with and serve consumers and small businesses,” said Trisha Price, Product Manager at nCino. “From the start, our goal has been to provide a retail lending experience focused on simplicity, efficiency and speed. This recognition from a prestigious global analyst firm is an important validation of our continued investment and innovation in our technology. ”
nCino (NASDAQ: NCNO) is the global leader in cloud banking. The nCino Bank Operating System® provides financial institutions with scalable technology to help them increase revenues, increase efficiency, reduce costs and comply with regulations. In a digitally driven world, nCino’s unique digital platform enhances the employee and customer experience to enable financial institutions to more effectively onboard new customers, grant loans and manage overall loan lifecycle, and open deposits and other accounts across all lines of business and channels. . Transforming the way financial institutions work through innovation, reputation and speed, nCino works with more than 1,100 financial institutions around the world, with assets ranging from $ 30 million to over $ 2,000 billion. For more information visit: www.ncino.com.
About the Aite group
Aite Group is a global research and advisory firm providing comprehensive and actionable advice on business, technology and regulatory issues and their impact on the financial services industry. With expertise in banking, payments, insurance, wealth management and capital markets, we support financial institutions, technology providers and consulting firms around the world. We partner with our clients, revealing their blind spots and providing insights to make their businesses smarter and stronger. Visit us on the the Web and connect with us on Twitter and LinkedIn.
Claire Sandstrom, nCino
Natalia Moose, nCino