Fifth Third Bank Selects nCino to Accelerate its Digital Transformation
October 20 2020 - 07:30AM
nCino, Inc. (NASDAQ: NCNO), a pioneer in cloud banking and digital
transformation solutions for the global financial services
industry, today announced that Fifth Third Bank, National
Association, has selected the nCino Bank Operating System as a
foundational technology platform to help the Bank accelerate its
digital transformation, streamline its commercial banking business
and provide greater transparency, efficiency and convenience to its
employees and clients.
Cincinnati-based Fifth Third is a recognized innovator that
continues to evolve its service model to ensure a focus on
continuous enhancements, personalization and digitization of client
touch points. By adopting the nCino Bank Operating System, Fifth
Third is gaining a flexible and agile digital solution that can
span business lines and channels and connect employees, clients and
third parties on a single platform, eliminating silos to bring new
levels of collaboration and transparency to the institution. nCino
offers a unified system that provides the functionality necessary
to complete mission-critical workflow, enabling client onboarding,
loan origination, deposit account opening, and real-time analytics,
all while helping to manage regulatory compliance.
“It’s clear that the next two years in banking will look very
different than the previous two,” said Jude Schramm, executive vice
president and chief information officer at Fifth Third. “As more
and more interactions are shifting from physical to digital, we
want to ensure we are accelerating our digital transformation to
provide our employees and clients with cutting-edge tools and
technology. The nCino platform offers capabilities that allow us to
innovate faster and serve commercial clients in a more efficient
way.”
“The nCino Bank Operating System will offer our employees a more
streamlined platform to serve our clients through unique,
value-added, and digitally-driven products and services,” added
Kevin Lavender, executive vice president and head of commercial
banking at Fifth Third. “In today's world, speed, convenience and
digital capabilities are paramount, and nCino was the clear
provider for our commercial banking business. We believe this
relationship will enable us to achieve a world-class infrastructure
by combining personalized touchpoints and experiences with the most
innovative technology.”
Pierre Naudé, CEO at nCino added, “We are extremely proud to be
working with Fifth Third. The progress that has been made to
reengineer the Bank’s processes and workflows for the benefit of
their employees and clients is a testament to their team and the
strength of our relationship. As business clients seek to engage
with their financial institutions in new ways, it’s more important
than ever to provide personalized service and to be able to do so
from anywhere, at any time and on any device. By embracing the
nCino platform, Fifth Third has the tools necessary to provide a
seamless integration of touch and technology and achieve their
mission of wholesale excellence. We are excited to be on this
journey with them.”
About nCinonCino (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 1,200 financial institutions globally,
whose assets range in size from $30 million to more than $2
trillion. For more information, visit: www.ncino.com.
About Fifth Third Bank Fifth
Third Bancorp is a diversified financial services company
headquartered in Cincinnati, Ohio, and the indirect parent company
of Fifth Third Bank, National Association, a federally chartered
institution. As of June 30, 2020, Fifth Third had $203 billion in
assets and operated 1,122 full-service banking centers and 2,456
ATMs with Fifth Third branding in Ohio, Kentucky, Indiana,
Michigan, Illinois, Florida, Tennessee, West Virginia, Georgia and
North Carolina. In total, Fifth Third provides its customers with
access to approximately 53,000 fee-free ATMs across the United
States. Fifth Third operates four main businesses: Commercial
Banking, Branch Banking, Consumer Lending and Wealth & Asset
Management.
MEDIA CONTACTS |
Claire
Sandstrom, nCino |
|
Natalia Moose,
nCino |
+1 646.520.0710 |
|
+1 910.248.4602 |
csandstrom@mww.com |
|
natalia.moose@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. 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.
nCino (NASDAQ:NCNO)
Historical Stock Chart
From Feb 2024 to Mar 2024
nCino (NASDAQ:NCNO)
Historical Stock Chart
From Mar 2023 to Mar 2024