Habib Bank Zurich plc Partners with nCino to Power an Enhanced Digital Experience for its Buy-to-Let Lending Business
Rhea-AI Summary
Habib Bank Zurich plc (HBZ UK) has chosen the nCino Platform to enhance its Buy-to-Let Lending business in the United Kingdom. The partnership aims to streamline processes, improve portfolio risk-management, and create new efficiencies in loan origination and management through digital capabilities across web, mobile, and intermediary channels.
As a specialist SME and corporate lender, HBZ UK will leverage nCino's intelligent suite of solutions to deliver modern convenience while maintaining its relationship-first service approach. The implementation aligns with HBZ UK's strategic vision to expand and enhance services while adapting to changing market demands.
Positive
- New partnership expands nCino's presence in the UK banking market
- Strategic implementation in HBZ UK's Buy-to-Let Lending business indicates product market fit
- Deal demonstrates continued adoption of nCino's platform by established financial institutions
Negative
- None.
Insights
This partnership marks a strategic expansion for nCino in the European banking market, particularly in the specialized Buy-to-Let lending segment. The deal with HBZ UK, while not immediately material to nCino's revenue, represents important market validation for their platform in the UK market. The implementation will span multiple channels including web, mobile and intermediary networks, suggesting a comprehensive deployment that could serve as a reference case for similar institutions.
The focus on portfolio risk-management and loan origination efficiency aligns with current market demands for digital transformation in traditional banking services. For nCino, this partnership enhances their footprint in specialized lending - a growing segment as banks seek to modernize their operations. While the financial terms aren't disclosed, such implementations typically generate recurring revenue through subscription and service fees.
The strategic value of this partnership lies in its potential to transform HBZ UK's Buy-to-Let lending operations. By implementing nCino's platform, the bank can expect significant operational efficiencies through process automation and streamlined portfolio management. This digital transformation is particularly relevant in the UK's competitive Buy-to-Let market, where speed and service quality are key differentiators.
The platform's ability to enhance risk management while maintaining the bank's relationship-first approach is important for specialized lending operations. The integration of digital capabilities across multiple channels suggests a comprehensive modernization effort that could significantly reduce loan processing times and operational costs while improving customer experience.
WILMINGTON, N.C., Dec. 11, 2024 (GLOBE NEWSWIRE) -- nCino, Inc. (NASDAQ: NCNO), the leading provider of intelligent, best-in-class banking solutions, today announced that Habib Bank Zurich plc (HBZ UK), a wholly owned UK incorporated subsidiary of Habib Bank AG Zurich Switzerland, has selected the nCino Platform to grow and digitally enhance the Bank’s Buy-to-Let Lending business in the United Kingdom.
As a specialist lender in the SME and corporate lending space, HBZ UK’s operating model is firmly rooted in delivering high quality, relationship-first service. With new digital capabilities from nCino that span web, mobile, and intermediary channels, HBZ UK will streamline its processes, enhance portfolio risk-management, and create new efficiencies in how it originates and manages loans. Collectively, HBZ UK will deliver modern convenience and trusted experiences to its customers through nCino’s intelligent suite of solutions.
“At HBZ UK, we pride ourselves in building long term client relationships, while adopting new technologies that allow us to scale to changing market demands. This partnership with nCino aligns with our vision as we continue to expand and enhance our services,” said Satyajeet Roy, Chief Executive Officer, HBZ UK. “Our Buy-to-Let Lending business is a strategic offering, and we are pleased to provide our customers the highly personal and digitally powered experience they seek.”
“We’re proud to be working with HBZ UK, partnering to reengineer key business processes for automation and efficiency,” said Joaquin de Valenzuela, Managing Director at nCino, EMEA. “By providing the technology and experience to help the Bank achieve a more efficient way of working, we look forward to seeing them achieve meaningful business results and create even more personalised and convenient customer experiences.”
About nCino
nCino (NASDAQ: NCNO) is powering a new era in financial services. The Company was founded to help financial institutions digitize and reengineer business processes to boost efficiencies and create better banking experiences. With over 1,800 customers worldwide - including community banks, credit unions, independent mortgage banks, and the largest financial entities globally - nCino offers a trusted platform of best-in-class, intelligent solutions. By integrating artificial intelligence and actionable insights into its platform, nCino is helping financial institutions consolidate legacy systems to enhance strategic decision-making, improve risk management, and elevate customer satisfaction by cohesively bringing together people, AI and data. For more information, visit www.ncino.com.
About Habib Bank Zurich plc
Habib Bank AG Zurich began operations in the United Kingdom in 1974 as a branch of a Swiss bank. In 2016, Habib Bank Zurich plc (a wholly owned UK incorporated subsidiary of Habib Bank AG Zurich Switzerland) took over the operations and business of the UK Branch. With a banking heritage of over 100 years, the Bank takes pride in providing personalized service to its valued customers through an international network spanning over 11 countries. Today, the Bank offers its services through its branch network in London, Manchester, Leicester and Birmingham with a total of 8 branches in the UK. The product catalogue comprises of buy-to-let finance, commercial loans, working capital finance, current accounts, savings accounts, notice accounts, fixed-term deposits, and treasury services. For more information, visit Habib Bank AG Zurich.
Media Contacts
Natalia Moose
Syed Mohammed Jafri
syedmohammedjafri@habibbank.com
Safe Harbor Statement
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FAQ
What is the purpose of HBZ UK's partnership with nCino (NCNO)?
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