nCino Named Best-in-Class Retail Loan Origination System in Aite Matrix
August 13 2020 - 4:12PM
nCino, Inc. (NASDAQ: NCNO) today announced that Aite Group has
named its cloud-based nCino Bank Operating System® a best-in-class
retail loan origination system (RLOS) in the analyst firm’s Aite
Matrix: “Transforming Consumer Lending Through Loan Origination
Systems.”
This evaluation is the first time Aite Group has employed a
Matrix, their proprietary vendor assessment framework, to compare
RLOS providers. The 14 participating vendors were scored on key
features and functionalities offered, strategic product
initiatives, client service and support, client training and
engagement, product deployment options, types of consumer loans
supported and distribution of RLOS customer base by financial
institution type 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 analytics and reporting
functions make its retail lending capabilities even stronger,” said
Leslie Parrish, senior analyst with Aite Group’s Retail Banking
practice and author of the report. “nCino’s Bank Operating System
is designed for financial institutions of all sizes and geographies
that want to improve the client experience for onboarding, loan
origination and account opening across multiple channels.”
“We initially began our journey with nCino using their
Commercial Banking Solution and added their Retail Banking Solution
after realizing how impactful nCino is at connecting disjointed
systems, creating continuity across lines of business and
supporting the customer journey through any channel,” said Ryan
Storey, director of loan operations at Great Southern Bank. “The
adoption of nCino across our retail bank has helped support our
efforts to create a compelling digital experience for our clients
while maintaining our commitment to offer the most convenient
banking services possible.”
Aite Group designated nCino as one of only two best-in-class
RLOS vendors based on how its platform can break down an
institution’s siloes and facilitate the flow of information through
the front, middle and back office all while helping to ensure
regulatory requirements are met. Particular differentiators,
according to the analyst firm, are nCino’s Document Manager feature
and Portfolio Analytics Solution. In addition, nCino ranked among
the highest of all vendors profiled in the categories of client
strength, client service and product features. This recognition
comes only months after nCino was ranked #1 for the second
consecutive time in Aite Group’s Matrix for commercial loan
origination systems.
With nCino’s Retail Banking Solution, financial institutions
can:
- Originate and service retail loans quickly and efficiently
while minimizing risk to lending operations through a single
digital platform;
- Leverage nCino’s automated underwriting and decisioning,
instantly generating loan decisions for unsecured, auto, small
business, home equity and other term loans;
- Enable their clients to start, stop and restart applications
from any device and allow employees to work remotely, in office or
in branch, with full permission-based access to the entire
system;
- Automatically generate multiple offers based on requested loan
type and credit policy requirements; and
- Maintain compliance with fair lending regulations while pricing
for risk default.
“We are incredibly proud that Aite Group has recognized nCino as
a leading RLOS vendor that is digitally transforming retail
banking to improve how financial institutions interact with
and serve consumer and small business clients,” said Trisha Price,
chief product officer at nCino. “Our goal from the start has been
to provide a retail lending experience driven by simplicity,
efficiency and speed. This acknowledgment from a prestigious global
analyst firm is a significant validator of our continued investment
and innovation in our technology.”
About nCino nCino (NASDAQ: NCNO) is the
worldwide leader in cloud banking. The nCino Bank Operating
System® empowers financial institutions with scalable
technology to help them achieve revenue growth, greater efficiency,
cost savings and regulatory compliance. In a digital-first world,
nCino's single digital platform enhances the employee and client
experience to enable financial institutions to more effectively
onboard new clients, make loans and manage the entire loan life
cycle, and open deposit and other accounts across
lines of business and channels. Transforming how financial
institutions operate through innovation, reputation and speed,
nCino works with more than 1,100 financial institutions globally,
whose assets range in size from $30 million to more than $2
trillion. For more information, visit: www.ncino.com.
About Aite GroupAite Group is a global research
and advisory firm delivering comprehensive, 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 the capital markets, we guide
financial institutions, technology providers, and consulting firms
worldwide. We partner with our clients, revealing their blind spots
and delivering insights to make their businesses smarter and
stronger. Visit us on the web and connect with us
on Twitter and LinkedIn.
MEDIA CONTACTSClaire Sandstrom, nCino
+1 646.520.0710
csandstrom@mww.com
Natalia Moose, nCino+1 910.833.0970natalia.moose@ncino.com
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