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Australian mortgage lender completes digital transformation with robust end-to-end platform
SYDNEY, Australia, March 24, 2022 (GLOBE NEWSWIRE) — nCino, Inc.. (NASDAQ: NCNO), a pioneer in cloud banking and digital transformation solutions for the global financial services industry, today announced that Red Zedan Australian mortgage company for the self-employed, is live on the nCino Bank Operating System®. RedZed selected PwC Australia as a delivery partner, who together with the nCino team in Australia was able to transform RedZed’s mortgage process and bring it online nCino’s mortgage solution.
With a growing customer base, RedZed sought a solution that would allow them to automate and standardize their residential mortgage origination process to meet an increase in demand while continuing to provide a flexible and personalized customer experience. The financial services company chose nCino and its mortgage solution – an integrated solution that covers the entire lifecycle from origination, multi-channel application and pre-approvals to underwriting, offers and closing – to increase automation, improve loan volume and reduce the cost of taking out new loans.
“nCino’s mortgage solution has exceeded the expectations of everyone in our organization and will provide our borrowers and lenders with a personalized and integrated experience that is seamless and simple,” said Stephen Gorman, Director of Credit Risk at RedZed. “With nCino and PwC teams collaborating across the globe, the implementation process was smooth and efficient. The reliability 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 of 2009 (NCCP), including document manager, form generation, smart checklist, questionnaires, serviceability calculator, offers and product matrix. These features will help RedZed achieve operational excellence and easily manage the entire customer portfolio, while connecting RedZed’s front and back office to enable them to grow more profitably and maximize their digital investments. .
“nCino is committed to providing a flexible and adaptable platform that enables financial institutions to make changes quickly,” said Mark Bernhardi, managing director for Australia and New Zealand at nCino. “We are proud to partner with RedZed on their digital transformation journey and help them deliver a seamless experience for their brokers and clients. 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, integrating the firm’s BXT – business, eXperience, technology – method to put innovation and experience at the heart of delivering the project. By leveraging an agile delivery approach, the project team was able to rapidly deploy an end-to-end solution, despite much of the work being done remotely due to the COVID pandemic.
“This project has been successful due to the commitment and initiative shown by all three teams,” added Marvin Slocombe, Head of Engagement at PwC. “Strong relationships, innovation and collaboration enabled us to complete this project with agility and determination. We are delighted that RedZed has chosen PwC to integrate nCino’s mortgage solution. We look forward to continuing to work together to help RedZed provide seamless and personalized services and experience to their customers.
nCino (NASDAQ: NCNO) is the global leader in cloud banking. The nCino Bank Operating System® provides financial institutions with scalable technology to help them increase revenue, increase efficiency, reduce costs and comply with regulations. In a digital world, nCino enhances the employee and customer experience to enable financial institutions to more efficiently onboard customers, issue loans and manage the entire loan lifecycle, and open deposit accounts and other accounts across all lines of business and channels. Transforming the way financial institutions work through innovation, reputation and speed, nCino partners with more than 1,500 financial institutions of all types and sizes globally. For more information, visit: www.ncino.com.
RedZed offers easy-to-understand residential and commercial mortgage solutions for the 2.1 million Australians who are self-employed. RedZed’s product offering is backed by 48-hour turnaround times, a no-nonsense approach to underwriting, direct access to credit decision-makers who understand the nuances of self-employed loans and are ready to arrange workshop requests with their accredited brokers. For more information, visit www.redzed.com.
About PwC Australia
At PwC Australia, our goal is to build trust in society and solve important problems. PwC is a network of companies in 155 countries with more than 284,000 people who are committed to providing quality services in the areas of assurance, advice and tax. Find out more and tell us what matters to you at www.pwc.com.au
Catalina Garcia, nCino
+61 418 215 423
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 the use of the words “believes,” similar expressions. Any forward-looking statements contained in this press release are based on nCino’s historical performance and its current plans, estimates and expectations, and do not constitute 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 change these expectations and, except as required by law, nCino undertakes no 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, including, among other things, risks and uncertainties relating to market adoption of our solution and privacy issues. and data security. Additional risks and uncertainties that could affect nCino’s business and financial results are included in nCino’s filings with the United States Securities and Exchange Commission (available on our website at www.ncino.com or on the SEC’s website at www.sec.gov). Further information about potential risks that could affect actual results will be included in other filings by nCino with the SEC from time to time.