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?
Idaho Central Credit Union Finds Growth in the Business Banking Space with nCino
Headquartered in Chubbuck, Idaho, Idaho Central Credit Union (ICCU) partners with nCino across multiple lines of business to support its growing, wide-spread customer base.
With nCino’s Deposit Account Opening solution, ICCU has streamlined processes and replaced legacy systems.
Today, ICCU saves about 32 hours per month on auditing, and has added 1700 new members accounts with nCino’s onboarding experience.
Idaho Central Credit Union (ICCU) has a growing, wide-spread customer base with diverse needs. That’s just one reason the ICCU has partnered with nCino across multiple lines of business—and why they knew nCino would be able to help them transform their business lending processes.
Headquartered in Chubbuck, Idaho, Idaho Central Credit Union (ICCU) partners with nCino across multiple lines of business to support its growing, wide-spread customer base. When ICCU expanded its offerings and services to include business lending, the Credit Union eventually found themselves constrained by their systems and data coordination.
ICCU searched for a new technology partner that would enable streamlined processes, improve the member experience and allow the Credit Union to scale quickly. As the institution and its customer base continued to grow, ICCU chose nCino to replace its legacy systems.
In fall of 2019, the Credit Union implemented the nCino Cloud Banking Platform within its business lending division. As the Credit Union grew, it expanded its use of nCino, implementing nCino’s Business Deposit Account Opening Solution.“We wanted a system that was going to evolve and grow with us, specifically in the commercial and business space,” said Lance Hatzenbeller, Senior Vice President of Customer Services at ICCU.
Business Deposit Account Opening with nCino
Before partnering with nCino for business deposit account opening, ICCU used its core systems and manual spreadsheets in its account opening processes. The lack of workflow transparency and inconsistency in data collection led to a clunky member experience and an inefficient account opening process.
“The problem was that if we changed something in the account opening process, that change was not automatically reflected in the tracking documents and spreadsheets since it was all manual,” stated Hatzenbeller. “That, along with chasing down paperwork from the members, all made for an inefficient onboarding process.”
With nCino’s Deposit Account Opening solution, teams within the Credit Union have new streamlined processes within the cloud-based platform.
Real Results at Idaho Central Credit Union
“With nCino, we are better able to serve our business members by providing them a “one-stop shop.” The experience is all in one place for them. They can open a membership and apply for a loan all in one go,” said Hatzenbeller.
Member information is now gathered only once and input into nCino, saving about 32 hours per month on auditing. The Credit union has added 1700 new members accounts with nCino’s exceptional onboarding experience.
As ICCU continues to grow, the added transparency Deposit Account Opening brings will be crucial in maintaining the level of dedication to serving its members the Credit Union upholds.
To learn more about ICCU’s journey with nCino, download our Customer Snapshot.