Ashman Bank, nCino to Enhance Banking Experience for UK Property SMEs

nCino, Inc. (NASDAQ: NCNO), which claims to be a pioneer in cloud banking and digital transformation solutions for the global financial services industry, announced its partnership with Ashman Bank, a new entrant bank with plans “to transform the banking experience for UK property SMEs, a £90bn market opportunity.”

Ashman Bank, which was awarded the UK’s first new banking license in 2022, has selected nCino’s Bank Operating System “as its foundational technology for its life cycle property finance solution, from refurbishment right through to development and investment.”

Through its digital-first and cloud-based approach to commercial real estate lending, Ashman Bank aims “to drive change in an industry where over four-fifths (84%)of SMEs are frustrated by slow decision-making and inflexible credit offerings.”

By implementing nCino, Ashman Bank will “offer products and services that provide the know-how and incentives to create the sustainable properties and practices of tomorrow and make it easier for SMEs to access the right financing for their needs, delivered with speed, automation, and personalization.”

Caroline Luxmore, Chief Commercial Officer at Ashman Bank added:

“Partnering with nCino takes us one step closer to being able to transform the banking experience for property SMEs. nCino gives us the best and most efficient platform for us to realise our ambitions as a digital-first bank, and we believe that together we can create a meaningful change in the UK real estate market.”

Charlie McIver, Managing Director, EMEA at nCino, stated:

“Ashman Bank is an ambitious new entrant that will provide real estate lending for conscientious businesses in the UK. It is bringing an innovative approach to commercial real estate, and nCino can help the Ashman team execute, grow and adapt as the bank expands. We’re proud to be playing a role in Ashman’s launch.”

Ashman plans “to launch early in 2023.”

The senior leadership team “boasts extensive experience in the financial services sector, with previous roles across Barclays, HSBC, RBS, Aldermore, Monzo, and Capital One.”

Its launch “builds on the established record of UK new entrant banks, with innovative technology and customer experience at the forefront of all operations.”

As covered, nCino claims to be “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 cloud-based platform “enhances the employee and client experience to enable financial institutions to more effectively onboard 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 is partnered “with more than 1,750 financial institutions of all types and sizes on a global basis.”

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