Of the four challenger banking licenses granted by Australian regulators in 2019, only one is still standing – and the Financial Times says it’s growing faster than any other financial institution in Asia-Pacific. At nSight 2023, Judo Bank COO, Lisa Frazier, shared what differentiates Judo Bank and how nCino has been a foundational part of its journey.SME business bank, Judo Bank is on a strong growth trajectory reflected in its lending book that jumped nearly 25% to A$7.5 bn in the six months to the end of December 2022. This growth was recognized in April 2023, when the Financial Times identified Judo as the fourth fastest growing company in Asia Pacific out of the top 500 high-growth businesses in the region.
According to Chief Operating Officer, Lisa Frazier, Judo Bank began in 2016 when a deeply experienced group of bankers who were passionate about the SME economy came together to help establish the challenger bank.
“In 2016, we were a PowerPoint standalone idea. It was very hard to raise money,” she recalls.
Yet two and a half years after getting a banking license in April 2019, Judo listed on the Australian Stock Exchange and continues to grow and scale its business.
How did they do it?
Before implementing nCino, Platinum Bank was using majority paper-based processes that required manual tasks.
The Bank implemented nCino to automate their loan approval process, improve efficiency and transparency, and grow their business loan portfolio.
With nCino, Platinum achieved their pre-implementation goals, including a 7% core loan growth through their implementation and post go-live.
Platinum Bank is a community bank based in the Midwest. In order to compete with similar banks, Platinum Bank implemented nCino to automate its loan approval process, improve efficiency and transparency and grow its business loan portfolio.
Before implementing nCino, Platinum Bank, a community bank based in the Midwest, was using paper-based processes that required manual tasks.
Like many of their competitors, the Bank was looking for a cloud-based solution that would help it gain efficiency, increase transparency and offer its employees and clients a seamless digital experience.
Platinum Bank went live on the nCino platform in just under six months, partnering with nCino on an accelerated delivery for incredibly fast implementation, despite additional challenges caused by the COVID-19 pandemic.
With new efficiencies and automations to transform commercial lending, the Bank is now able to spend more time in business development and serving existing clients, all while delivering faster credit decisions. Powered by nCino, Platinum Bank can also grow its business loan portfolio more effectively and competitively by identifying bottlenecks in its sales processes.
“With new digital capabilities and automation on the nCino platform, we are getting credit decisions back to our prospects faster than our competition, and that is a key win for us,” said Jeff Bajek, Chief Credit Officer a Platinum Bank.
Since going live on nCino’s Platinum Bank has completely automated and digitized its loan approval process, resulting in increased transparency and visibility throughout all processes. In addition, the Bank saw a 7% core loan growth through its nCino implementation and post go-live, an incredible rate.
Learn more about Platinum Bank’s accelerated journey to digitize processes and automate the loan approval process while also experiencing core loan growth in this customer story.