Following this announcement, the financial institution is expected to utilise the nCino Cloud Banking Platform in order to modernise its technology stack and suite of solutions. Summerland will also implement nCino to use end-to-end loan originations for all its clients and commercial products. These will include mortgages, overdrafts, personal loans, car loans, business loans, and credit cards.
Summerland Bank represents a customer-owned regional mutual bank that is headquartered in Australia, developed in order to prioritise the process of providing its clients and partners with a range of financial services with transparent and secure environmental, social, and governance principles. The financial institution will leverage nCino’s cloud-based platform across its customer and business lending in order to automate processes, while also using a single system of interaction for end-to-end originations.
Following this strategic deal, Summerland Bank will focus on improving the overall customer digital experiences, as well as scaling its loan books. At the same time, the partnership will prioritise meeting the needs, preferences, and demands of the bank’s user base in an ever-evolving industry, while also remaining compliant with the laws and regulatory requirements of the local market.
Through the optimised process of automation and integration with data sources, nCino will give financial institutions the possibility to deliver faster and more secure responses to clients and users, as well as improve the overall client experience. The nCino platform will also be instrumental in reducing manual effort and re-keying of data, in addition to significantly reducing re-work. Furthermore, the partnership will allow the Summerland Bank to accelerate the time to approval and disbursement.
The collaboration will also serve as a single system of interaction for the overall end-to-end originations team, across user and business lending. At the same time, nCino will provide the financial institution with its single Software-as-a-Service (SaaS) platform, which will allow Summerland Bank to modernise its operations and suite of solutions. At the same time, the platform will improve the manner in which the financial institution accelerates its development process and onboards customers more efficiently and securely, while also optimising the process of making loans, managing the loan lifecycle, and opening accounts.
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