LONDON, Nov. 15, 2023 (GLOBE NEWSWIRE) -- nCino, Inc. (NASDAQ: NCNO), a pioneer in cloud banking for the global financial services industry, today announced a strategic partnership with OneSavings Bank (OSB) to provide the institution with a cloud-based single platform that will help streamline traditional banking processes such as underwriting and loan origination. The partnership will support OSB as it further innovates its mortgage and lending operations via technology investments while maintaining a high level of customer service and regulatory compliance.
OSB, part of OSB Group, is a leading specialist mortgage lender, primarily focused on carefully selected 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.
The UK mortgage industry is facing several challenges, including evolving customer demands and rapid changes in regulations. To add to this, many providers have outdated legacy IT systems that hinder their ability to adapt quickly when faced with shifting economic conditions or changing interest rates. This leaves many lenders without the flexibility or agility they need to handle new demands.
OSB is taking an active leadership position in the UK lending market by implementing the nCino platform to enhance the efficiency of its lending processes. Through the partnership with nCino, OSB will gain a fully configurable, single platform solution that will create agility in its lending practices and provide flexibility to continuously monitor the economic environment, pivot at speed and adjust itself accordingly while providing a superior experience for its customers and brokers.
Sound bites:
- “Our goal is to be recognised as the UK’s number one choice of specialist bank through our commitment to exceptional service, strong relationships and competitive propositions, helping customers, colleagues and communities prosper. I’m looking forward to the journey ahead of us with nCino and the added flexibility and agility we will gain by implementing the platform,” said Matthew Baillie, Group Chief Transformation Officer at OSB Group.
- 'nCino will enable OSB to further streamline its lending processes and drive efficiency while maintaining focus on providing outstanding customer service,” said Thomas Chaplin, Head of Mortgage Product, EMEA at nCino. “By leveraging the power of a single platform, nCino can help mortgage providers, borrowers, and brokers alike to benefit from enhanced efficiency and transparency throughout the entire lending process. The exciting partnership between nCino and OSB is just the latest example of this tech-driven revolution that is modernising the mortgage industry in the UK and we’re incredibly proud to be partnered on this initiative.”
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 1,850 financial services providers globally. For more information, visit www.ncino.com.
About OSB
OSB Group, a member of the FTSE 250 index, provides specialist lending and retail savings through its industry leading brands and is authorised by the Prudential Regulation Authority, part of the Bank of England, and regulated by the Financial Conduct Authority and Prudential Regulation Authority.
Media Contacts
Natalia Moose
press@ncino.com
This press release contains forward-looking statements within the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally include actions, events, results, strategies and expectations and are often identifiable by use of the words “believes,” “expects,” “intends,” “anticipates,” “plans,” “seeks,” “estimates,” “projects,” “may,” “will,” “could,” “might,” or “continues” or similar expressions. Any forward-looking statements contained in this press release are based upon nCino’s historical performance and its current plans, estimates, and expectations, and are not a representation that such plans, estimates, or expectations will be achieved. These forward-looking statements represent nCino’s expectations as of the date of this press release. Subsequent events may cause these expectations to change and, except as may be required by law, nCino does not undertake any obligation to update or revise these forward-looking statements. These forward-looking statements are subject to known and unknown risks and uncertainties that may cause actual results to differ materially including, among others, risks and uncertainties relating to the market adoption of our solution and privacy and data security matters. Additional risks and uncertainties that could affect nCino’s business and financial results are included in reports filed by nCino with the U.S. Securities and Exchange Commission (available on our web site at www.ncino.com or the SEC's web site at www.sec.gov). Further information on potential risks that could affect actual results will be included in other filings nCino makes with the SEC from time to time.
