OneSavings Bank partners with nCino

Through this partnership, OSB intends to further improve its mortgage and lending capabilities via technology investments while maintaining a high level of customer satisfaction and regulatory compliance. As a mortgage lender, OSB mostly focuses on selecting sub-segments of the mortgage market, such as Buy to Let, Residential, including Help to Buy and shared ownership, complex commercial and semi-commercial, development finance, bridging, and asset finance.

Currently, the UK mortgage landscape faces several difficulties, including evolving customer requirements and accelerated modifications in regulations. Moreover, several providers have dated legacy IT systems that impede their competence to adapt when encountering shifting economic conditions or altering interest rates. This leads to decreased flexibility and agility when it comes to handling new demands for lenders. 

By implementing the nCino platform, OSB intends to enhance the efficiency of its lending operations, receiving configurable, single platform solution that aims to increase its agility in its lending practices and provide flexibility to monitor and adjust to the economic environment. According to OSB’s officials, the institution’s objective is to solidify its position as a specialist bank through its commitment to enhanced service, strong relationships, and competitive propositions.

Representatives from nCino stated that the partnership intends to enable OSB to further simplify its lending operations and advance efficiency while maintaining focus on offering improved customer service. By using its single platform, nCino can support lending providers, borrowers, and brokers to benefit from transparency and proficiency throughout the entire lending process.  

With its single Software-as-as-Service (SaaS) platform, nCino intends to help financial institutions serving corporate and commercial, small business, consumer, and mortgage customers improve and more efficiently onboard clients, make loans, manage their loan lifecycle, and open accounts. Recently, the company entered multiple partnerships, including one with Truv, a consumer-permissioned data platform. The integration allowed lenders to provide Truv as a service within the nCino Mortgage Suite. Moreover, Truv’s collaboration with nCino reduced the risk of fallout by simplifying the income and employment verification process, with the intention of accelerating conversation rate without raising default risk.

Moreover, at the beginning of October 2023, Honor Bank implemented nCino’s Commercial Banking Solution and went live on the company’s Cloud Banking Platform. By adhering to nCino’s practices, the bank launched the Commercial Banking Solution within an accelerated timeline, with the adoption being intended to simplify operations and improve customer experience. This solidified the bank’s position in its regional market.

During the same period, FullCircl, a Customer Lifecycle Intelligence platform, announced its collaboration with nCino to offer data-driven experiences to SME lenders. Through this partnership, FullCircl aimed to provide data capabilities and combine them with nCino’s Cloud Banking Platform via API. The company intended to deliver fast, secure, and data-driven experience for financial institutions that wanted to optimise their SME customer experience.