WILMINGTON, N.C., Aug. 13, 2020 (GLOBE NEWSWIRE) — nCino, Inc. (NASDAQ: NCNO) today announced that Aite Group has named its cloud-based nCino Bank Operating System® a best-in-class retail loan origination system (RLOS) in the analyst firm’s Aite Matrix: “Transforming Consumer Lending Through Loan Origination Systems.”
This evaluation is the first time Aite Group has employed a Matrix, their proprietary vendor assessment framework, to compare RLOS providers. The 14 participating vendors were scored on key features and functionalities offered, strategic product initiatives, client service and support, client training and engagement, product deployment options, types of consumer loans supported and distribution of RLOS customer base by financial institution type and geography.
“nCino’s loan origination capabilities—especially when viewed as part of its larger single digital platform—were already best in class; however, recent additions to its analytics and reporting functions make its retail lending capabilities even stronger,” said Leslie Parrish, senior analyst with Aite Group’s Retail Banking practice and author of the report.
“nCino’s Bank Operating System is designed for financial institutions of all sizes and geographies that want to improve the client experience for onboarding, loan origination and account opening across multiple channels.”
“We initially began our journey with nCino using their Commercial Banking Solution and added their Retail Banking Solution after realizing how impactful nCino is at connecting disjointed systems, creating continuity across lines of business and supporting the customer journey through any channel,” said Ryan Storey, director of loan operations at Great Southern Bank. “The adoption of nCino across our retail bank has helped support our efforts to create a compelling digital experience for our clients while maintaining our commitment to offer the most convenient banking services possible.”
Aite Group designated nCino as one of only two best-in-class RLOS vendors based on how its platform can break down an institution’s siloes and facilitate the flow of information through the front, middle and back office all while helping to ensure regulatory requirements are met. Particular differentiators, according to the analyst firm, are nCino’s Document Manager feature and Portfolio Analytics Solution. In addition, nCino ranked among the highest of all vendors profiled in the categories of client strength, client service and product features. This recognition comes only months after nCino was ranked #1 for the second consecutive time in Aite Group’s Matrix for commercial loan origination systems.
With nCino’s Retail Banking Solution, financial institutions can:
- Originate and service retail loans quickly and efficiently while minimizing risk to lending operations through a single digital platform;
- Leverage nCino’s automated underwriting and decisioning, instantly generating loan decisions for unsecured, auto, small business, home equity and other term loans;
- Enable their clients to start, stop and restart applications from any device and allow employees to work remotely, in office or in branch, with full permission-based access to the entire system;
- Automatically generate multiple offers based on requested loan type and credit policy requirements; and
- Maintain compliance with fair lending regulations while pricing for risk default.
“We are incredibly proud that Aite Group has recognized nCino as a leading RLOS vendor that is digitally transforming retail banking to improve how financial institutions interact with and serve consumer and small business clients,” said Trisha Price, chief product officer at nCino. “Our goal from the start has been to provide a retail lending experience driven by simplicity, efficiency and speed. This acknowledgment from a prestigious global analyst firm is a significant validator of our continued investment and innovation in our technology.”