ABN AMRO and nCino Partnership Driving Digital Transformation across Corporate Lending
Rhea-AI Summary
nCino, Inc. (NASDAQ: NCNO) announced that ABN AMRO, one of the largest banks in the Netherlands, has successfully implemented nCino's Cloud Banking Platform. This partnership aims to drive digital transformation across ABN AMRO's corporate lending operations and enhance collateral management across all business lines. The implementation consolidates multiple legacy systems into a single platform, streamlining the end-to-end lending process for both customers and employees.
ABN AMRO selected nCino to support its ambition of becoming a personal bank in the digital age while fostering continuous innovation. The successful project has led to an extended partnership between nCino and ABN AMRO. Accenture provided support in accelerating ABN AMRO's digital transformation strategy during the platform rollout.
Positive
- Successful implementation of nCino's Cloud Banking Platform at ABN AMRO, a major European bank
- Extended partnership between nCino and ABN AMRO following successful project completion
- Consolidation of multiple legacy systems into a single platform, improving operational efficiency
- Enhanced collateral management capabilities across all business lines
Negative
- None.
News Market Reaction – NCNO
On the day this news was published, NCNO declined 0.23%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Top 25 European bank implements nCino to support its transformation strategy
LONDON and AMSTERDAM, Aug. 20, 2024 (GLOBE NEWSWIRE) -- nCino, Inc. (NASDAQ: NCNO), a pioneer in cloud banking for the global financial services industry, announced that ABN AMRO, one of the largest banks in the Netherlands, is live on nCino’s Cloud Banking Platform.
ABN AMRO selected nCino as a key technology platform to strengthen the Bank’s ambitions to be a personal bank in the digital age by supporting continuous innovation. ABN AMRO is utilizing nCino across its corporate lending operations, as well as for collateral management across all its lines of business. By implementing nCino, ABN AMRO is unlocking added business value through enhanced collateral management and consolidating multiple legacy systems into one platform, unifying its end-to-end lending process for both customers and employees. As a result of the successful project and go-live, nCino and ABN AMRO have extended their partnership.
Accenture helped to accelerate ABN AMRO’s digital transformation strategy by leveraging its global experience and regional expertise to support the roll out of the platform.
“We have selected nCino to take the bank forward in our strategy to provide clients with industry-leading lending products, to offer a digital experience, to strengthen the personal contact with our clients and to be compliant by design,” says Sumitra Moeller, Head of Financing Solutions at ABN AMRO.
Mel Jacobs, Head of IT Corporate Banking & Wealth Management at ABN AMRO, adds “Our partnership with nCino is instrumental for our lending transformation roadmap.”
"We are incredibly excited about our expanded partnership with ABN AMRO,” said Charlie McIver, Managing Director, EMEA at nCino. “ABN AMRO understands the value of a single platform and the data foundations needed to drive digital transformation for its large, ECB regulated business. This major milestone is the foundation for future growth and transformation, and we are excited to support the continued innovation, and further integrate our intelligent, data-driven solutions."
The nCino platform offers a comprehensive suite of banking solutions that optimize loan origination, credit analysis, collateral management and portfolio management, providing the transparency needed in a highly regulated industry.
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 1,800 financial services providers globally. For more information, visit www.ncino.com.
Media Contacts
Natalia Moose
press@ncino.com
Safe Harbor Statement
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.
FAQ
What is the purpose of ABN AMRO's partnership with nCino (NCNO)?
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