Australian SME Banking Challenger Judo Bank to Use Cloud based Bank Operating System Developed by nCino

Australia-based SME challenger bank Judo Bank has chosen nCino (NASDAQ: NCNO) to help streamline its lending processes. Judo Bank will be using nCino’s Cloud-powered platform to enhance its services which are mainly intended for small businesses.

nCino, Inc. is an established cloud banking and digital transformation solutions provider for the financial services sector. nCino’s Banking Operating System will be used by Judo Bank to improve its lending operations.

Judo Bank will be working cooperatively with nCino so that the digital challenger can automate key aspects of its banking processes.

As mentioned in a release:

“As part of the nCino Bank Operating System, Judo will implement nCino’s Commercial Banking Solution, which automates workflows and provides real-time reporting, elements of the credit analysis process and digital document management capabilities to drive a transparent and fully digital end-to-end lending process.”

Tim Alexander, Chief Product Officer at Judo Bank, said that Judo’s goal is to help Australian SMEs by “bringing back the craft of relationship banking and delivering the funding that SMEs desperately need and deserve.”

Alexander added that his company shares some of the same views as nCino which is why they chose them “to help disrupt the industry and deliver differentiated services to better finance the growth ambitions of Australian SMEs.”

Mark Bernhardi, General Manager of APAC at nCino, noted that his company is looking forward to working with Judo Bank. They’ll be helping the digital challenger with “creating a more efficient banking experience that is tailored to [its] clients’ individual needs,” Bernhardi said.

He added:

“Judo was created to be fast and nimble and to provide new options to SMEs across Australia. We look forward to building upon our partnership to support Judo’s craft of relationship banking, enabling them with the latest technology from nCino as they help their clients capitalise on the right opportunities at the right time.”

In May 2020, Judo Bank had managed to secure $250 million through an equity round and also achieved Unicorn status (companies valued at $1 billion or more).

nCino is a Wilmington, North Carolina-based Fintech that offers a cloud banking platform built on the Salesforce platform. It launched its initial public offering (IPO) in July 2020. The firm’s shares had rocketed on the NASDAQ as soon as trading began earlier this year.

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