nCino, Inc. (NASDAQ: NCNO), a pioneer in cloud banking for the global financial services industry, announced that the largest cooperative financial group in North America, Desjardins Group, will implement nCino’s Automated Spreading Solution, powered by nCino IQ (nIQ), expanding their partnership with nCino “to further realize the benefits of a single platform.”
After implementing nCino’s Small Business and Commercial Banking Solutions in 2022, Desjardins has been “able to increase the speed of its loan origination process by eliminating unnecessary wait times for its members and clients.”
To improve the efficiency already gained by using the platform, Desjardins is expanding its use of nCino to include Automated Spreading functionality, which “leverages machine learning to streamline the underwriting process, enhance financial statement data capture and improve the speed and quality of credit decisions.”
This solution covers multilingual documents and multi-currency financial statements, “making the process smoother for Desjardins’ clients and members.”
Jean-Yves Bourgeois, Executive Vice-President of Business Services, said:
“Desjardins is continuously working to minimize delays and wait times for our members and clients and increase value added interactions by offering innovative digital solutions that meet their needs. Our partnership with nCino has already helped us accelerate the funding process to small businesses. With nCino’s spreading solution, we will be able to remain a leader and continue to offer members and clients a seamless user experience.”
Greg Wipke, Vice President of Sales, Canada, at nCino, said:
“Desjardins’ selection of nCino’s Automated Spreading Solution demonstrates their forward-thinking approach to leveraging and deriving meaningful value from technology. We are proud to be strengthening our partnership and look forward to building upon the way Desjardins has embraced the nCino platform to create greater operational efficiencies across the credit decisioning processes and to enhance client experiences.”
As covered, nCino (NASDAQ: NCNO) says i 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.”
As mentioned in the announcement, Desjardins Group claims it is “the largest cooperative financial group in North America and the fifth largest cooperative financial group in the world, with assets of $422.9 billion as at December 31, 2023. It was named one of Canada’s Best Employers by Forbes magazine and by Mediacorp.”
To meet the diverse needs of its members and clients, Desjardins offers “a full range of products and services to individuals and businesses through its extensive distribution network, online platforms and subsidiaries across Canada.”
