South African bank’s adoption of nCino expands the company’s reach to five continents
LONDON and STELLENBOSCH – 10 MAY 2022 – nCino, Inc. (NASDAQ: NCNO), a pioneer in cloud banking and digital transformation solutions for the global financial services industry, today announced that Capitec Bank (Capitec; JSE: CPI), South Africa’s largest and fastest-growing digital bank has partnered with nCino. nCino is assisting with building the bank’s Business Banking loan management system, optimising its simplicity and efficiency in line with Capitec’s mission to help clients bank better to live better.
Karl Kumbier, Executive of Capitec Business, says he is very excited that Capitec has chosen nCino as a partner, saying that “Capitec is a brand that is associated with hard work, innovation, and disruption. It is the fastest-growing bank in the country and has over 70,000 business banking clients. We are looking forward to taking our ethos of simplicity even further, with the inclusion of this technology into our systems for a more seamless experience for the businesses we serve.”
“We are extremely proud to be working with Capitec, an institution with an incredible reputation as South Africa’s largest digital bank,” said Pierre Naudé, CEO at nCino. “With 17 million retail clients, Capitec has embraced an agile and innovative approach to growth. We’re glad Capitec saw a partner in nCino and look forward to providing the Bank with industry-leading technology and a flexible platform that will help drive the sustainability and growth of its business banking operations.”
Thomas Byrne, Head of Product, EMEA at nCino added, “As we continue to expand into new countries, we’re developing additional depth and breadth to the nCino platform to solve the business, technical, and regulatory pain points that regularly trouble financial institutions on a global scale. We’re looking forward to providing Capitec with a scalable platform that enables the bank to improve client and employee experiences by streamlining, digitising and automating complex processes for a faster, more efficient and transparent experience for business owners.”
Capitec Bank (JSE: CPI), the biggest digital bank in South Africa based on the number of clients, has gained over 18 million active clients’ trust. Capitec Bank offers simplified, affordable, and transparent banking with personalised service, using relevant innovative technology to drive down costs and increase security and accessibility. From a digital perspective, Capitec Bank is South Africa’s largest digital bank with over 10 million digital clients.
The Group acquired Mercantile Bank, a business bank for small and medium enterprises, in 2019 and is committed to building a business bank that is disruptive in the market and scalable through digital technology.
nCino (NASDAQ: NCNO) is 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. For more information, visit www.ncino.com.