ThinCats and nCino: A Partnership Driving Innovation and Operational Excellence
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ThinCats, a leading alternative finance provider supporting mid-sized SMEs across the UK, has achieved remarkable digital transformation through its five-year partnership with nCino.
From an Immediate Solution to Strategic Growth
During the pandemic, ThinCats initially partnered with nCino to manage the government-backed Coronavirus Business Interruption Loan Scheme (CBILS). Leveraging nCino's quick-to-market capabilities, robust functionality, and adaptability, ThinCats implemented the platform in under two months, meeting urgent demands while ensuring compliance and operational accuracy.
"We needed a robust workflow engine to get to market fast, and nCino delivered,” said Billy Ferguson, ThinCats’ Chief Technology Officer. “It enabled us to meet pressing demands and lay the groundwork for long-term success.”
What began as a solution to manage CBILS evolved into a strategic partnership. ThinCats transformed operations with nCino’s intelligent cloud banking platform, creating a seamless workflow for all new loans.
“With nCino, it started as a supplier-client relationship but has grown into a genuine partnership and friendship,” said Anit Sharma, Head of Technology Platforms.
Reflecting on the decision to buy rather than build a platform from scratch, Sharma added, “nCino offered a proven, flexible solution that we could implement quickly, enabling us to avoid operational delays while pursuing key opportunities like CBILS.” Because they eliminated lengthy development cycles, ThinCats was able to redirect resources to client service without compromising accuracy or efficiency. The nCino Platform also helped them avoid costly custom development, enabling ThinCats to focus on value-driven initiatives.
Today, ThinCats leverages nCino features like Document and Collateral Management, Automated Financial Covenant Testing, and Automated Spreading to enhance efficiency and innovation.
“Our transformation started with origination and then servicing, leading to the adoption of Automated Spreading. This now supports 100% of our loan book, capturing the full history of every loan. Automated Spreading has enabled auto covenants and is paving the way for advances like forecasting.” Billy Ferguson, ThinCats’ Chief Technology Officer
Pioneering Automation and Efficiency
Automated Spreading
Adopting nCino Automated Spreading marked a shift in ThinCats’ data management approach. Previously relying on spreadsheets for 90% of operations, the process was time-intensive and prone to duplication. The new solution of Automated Spreading enhanced accuracy, simplified workflows, and allowed teams to focus on strategic priorities. Describing the feature, Ferguson called it "a game-changer" that shifted the team’s focus from administrative tasks to insight-driven decision-making.
“We’re not reducing headcount—we’re redirecting expertise. Instead of skilled employees’ spending time on data entry, we’ve improved efficiency so they can focus on analyzing data and understanding the businesses we serve. This enables us to deliver more valuable insights and stronger support to our clients.” Billy Ferguson, ThinCats’ Chief Technology Officer
Automated Financial Covenant Testing
ThinCats became an Early Adopter of nCino Automated Financial Covenant Testing, working closely with nCino to refine its functionality. This innovation saved ThinCats 25 hours per month by automating repetitive tasks, allowing teams to focus on in-depth analysis and proactive client engagement. “With a lean team, efficiency isn’t just a nice-to-have for us; it’s fundamental,” said Ferguson. “Automating these tasks allows our team to deliver the high-touch service our clients expect.”
“We developed a borrower health utility that integrates data from spreads, covenants, and our risk engine, providing the borrower services team with real-time insights, trends, and forecasts. Transitioning from a spreadsheet-based process to digital data management has removed inefficiencies, streamlined workflows, improved employee satisfaction, and laid the foundation for further tool development.” Billy Ferguson
Measurable Results
Since partnering with nCino, ThinCats has achieved significant improvements, including:
Elimination of Over 100 Duplicated Data Fields improving compliance and data accuracy.
25 hours per month saved with nCino Automated Financial Covenant Testing
Accelerated Time-to-Market enabling ThinCats to rapidly launch critical workflows during urgent periods through implementing the platform in under 2 months
A Vision for the Future
ThinCats remains committed to innovation, with client needs at the heart of its strategy. By collaborating with nCino on upcoming AI-driven initiatives, ThinCats continues to uncover new opportunities to optimize operations and deliver even greater value to its clients.
“We’re not resting on our laurels,” said Ferguson. “Our focus is on staying at the forefront of AI and technological advancements to deliver meaningful benefits to our clients in real time.”
Sharma added, “The collaboration with nCino isn’t just about what we’ve achieved but about what’s next. We’re implementing intelligent technology to redefine how we operate and serve clients.”
nCino’s dependability and innovation have empowered ThinCats to scale efficiently while launching forward-thinking initiatives. ThinCats describes nCino as “Partner,” “Dependable,” “Innovative,” and “Agile,” underscoring the strength of their collaboration and its role in shaping ThinCats’ success.
“We can pitch way above our weight technology wise because of our partnership with nCino. While we don't have the depth of resources to focus heavily on R&D in innovation and development, we can leverage nCino's expertise and their broader business network to drive this for us.” Billy Ferguson, ThinCats’ Chief Technology Officer