Judo Bank Selects nCino to Simplify Lending Processes
SYDNEY, Australia, Oct. 13, 2020 (GLOBE NEWSWIRE) -- nCino, Inc. (NASDAQ: NCNO), a pioneer in cloud banking and digital transformation solutions for the global financial services industry, today announced that Australia’s first fully licensed challenger bank dedicated to lending to small and medium sized enterprises (SME), Judo Bank, will implement the nCino Bank Operating System® to streamline its lending operations and further enhance its client value proposition.
Through its collaboration with nCino, Judo is able to automate strategic aspects of the banking process and concentrate on its mission to deliver traditional relationship lending and vital credit to Australian SMEs. As part of the nCino Bank Operating System, Judo will implement nCino’s Commercial Banking Solution, which automates workflows and provides real-time reporting, elements of the credit analysis process and digital document management capabilities to drive a transparent and fully digital end-to-end lending process.
“Judo’s mission is to be a champion for Australian SMEs by bringing back the craft of relationship banking and delivring the funding that SMEs desperately need and deserve,” said Tim Alexander, Chief Product Officer at Judo Bank.
“We share the same view as nCino when we say partnerships matter; that’s why we selected them to help us disrupt the industry and deliver differentiated services to better finance the growth ambitions of Australian SMEs.”
Mark Bernhardi, General Manager of APAC at nCino said: “We are excited to be working with Judo Bank to help them create a more efficient banking experience that is tailored to their clients’ individual needs.”
“Judo was created to be fast and nimble and to provide new options to SMEs across Australia. We look forward to building upon our partnership to support Judo’s craft of relationship banking, enabling them with the latest technology from nCino as they help their clients capitalise on the right opportunities at the right time.”
About Judo Bank
In May this year, Judo completed its third-round capital raise, taking the post-money valuation of the bank to unicorn status at well over $1 billion. Judo’s first and second funding rounds - worth a combined $540 million – equate to the largest amount of private investment raised by an Australian start-up.
This press release contains forward-looking statements within the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally include actions, events, results, strategies and expectations and are often identifiable by use of the words “believes,” “expects,” “intends,” “anticipates,” “plans,” “seeks,” “estimates,” “projects,” “may,” “will,” “could,” “might,” or “continues” or similar expressions. Any forward-looking statements contained in this press release are based upon nCino’s historical performance and its current plans, estimates, and expectations, and are not a representation that such plans, estimates, or expectations will be achieved. These forward-looking statements represent nCino’s expectations as of the date of this press release. Subsequent events may cause these expectations to change and, except as may be required by law, nCino does not undertake any obligation to update or revise these forward-looking statements. These forward-looking statements are subject to known and unknown risks and uncertainties that may cause actual results to differ materially. Additional risks and uncertainties that could affect nCino’s business and financial results are included in reports filed by nCino with the U.S. Securities and Exchange Commission (available on our web site at www.ncino.com or the SEC's web site at www.sec.gov). Further information on potential risks that could affect actual results will be included in other filings nCino makes with the SEC from time to time.