RedZed, an Australian mortgage company, has completed its digital transformation by implementing nCino's Mortgage Solution, an integrated platform that automates and standardizes the residential mortgage origination process.
The collaboration between RedZed, nCino, and PwC Australia resulted in a successful implementation, delivering a personalized and seamless experience for borrowers and lenders.
By leveraging nCino's Mortgage Solution, RedZed can achieve operational excellence, ensure compliance with regulations, and connect their front and back-office operations to maximize digital investments and support cost-effective growth.
RedZed, an Australian mortgage company, has completed its digital transformation by implementing nCino's Mortgage Solution, a robust end-to-end platform. With the help of nCino and their delivery partner PwC Australia, RedZed has automated and standardized its mortgage origination process, resulting in increased efficiency, improved loan volume, and a seamless and personalized experience for borrowers and lenders.
Australian mortgage lender completes digital transformation with robust, end-to-end platform
SYDNEY, Australia – March 25, 2022 – nCino, Inc. (NASDAQ: NCNO), a pioneer in cloud banking and digital transformation solutions for the global financial services industry, today announced that RedZed, an Australian mortgage company for the self-employed, is live on the nCino Bank Operating System®. RedZed selected PwC Australia as their delivery partner, who in conjunction with the nCino team in Australia, were able to transform RedZed’s mortgage lending process and go live on nCino’s Mortgage Solution.
With a growing customer base, RedZed sought a solution that would enable them to automate and standardise their residential mortgage origination process to accommodate an increase in demand while continuing to deliver a flexible and personalised customer-first experience. The financial services company selected nCino and its Mortgage Solution – an integrated solution that spans the entire origination lifecycle, from multi-channel application and pre-approvals through underwriting, offers and closing – to increase automation, improve loan volume, and decrease the cost of writing new loans.
“nCino’s Mortgage Solution exceeded the expectations of everyone in our organisation and will provide our borrowers and lenders with a personalised and integrated experience that is seamless, transparent and simple” said Stephen Gorman, Chief Credit Risk Officer at RedZed.
“With teams from nCino and PwC collaborating across the globe, the implementation process was smooth and efficient. The dependability of both teams led to the phenomenal success of this project.”
The nCino Mortgage Solution provides RedZed with tools to maintain compliance with the National Consumer Credit Protection Act 2009 (NCCP), including Document Manager, form generation, smart checklist, questionnaires, serviceability calculator, and offers and product matrix. These features will help RedZed achieve operational excellence and manage the entire client portfolio with ease, while also connecting RedZed’s front and back-office to enable them to grow more cost effectively and maximize their digital investments.
“nCino is committed to providing a flexible and adaptable platform that enables financial institutions to deliver change at speed,” said Mark Bernhardi, Managing Director of Australia and New Zealand at nCino.
“We are proud to partner with RedZed on their digital transformation journey and help them provide a seamless experience for their brokers and customers. Our relationship with RedZed and PwC embodies our mission to transform the financial services industry through innovation, reputation and speed.”
PwC Australia worked closely with the nCino team, embedding the firm’s BXT – business, eXperience, technology – method to put innovation and experience at the core of the project delivery. By leveraging an agile delivery approach, the project team was able to deploy an end-to-end solution quickly, despite most of the work being completed remotely due to the COVID pandemic.
“This project was successful due to the commitment and initiative shown by all three teams,” added Marvin Slocombe, Engagement Lead at PwC. “Strong relationships, innovation and collaboration allowed us to deliver this project with agility and determination. We are thrilled that RedZed selected PwC to integrate nCino’s Mortgage Solution. We look forward to our continued work together to support RedZed to deliver seamless, personalised services and experience to their customers.”
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 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 1,500 financial institutions of all types and sizes on a global basis. For more information, visit: www.ncino.com.
RedZed provides simple to understand residential and commercial mortgage solutions for the 2.1 million Australians that are self-employed. RedZed’s product offering is backed by 48-hour turnaround times, a common-sense approach to underwriting, direct access to credit decision makers that understand the nuances of self-employed lending and are prepared to workshop applications with their accredited brokers. For more information, visit www.redzed.com.
About PwC Australia
At PwC Australia, our purpose is to build trust in society and solve important problems. PwC is a network of firms in 155 countries with over 284,000 people who are committed to delivering quality in assurance, advisory and tax services. Find out more and tell us what matters to you by visiting us at www.pwc.com.au