TORONTO, ON and MONTREAL, QC–With a goal to become the fastest bank for small businesses in Canada, National Bank of Canada is modernizing its commercial financing platform with the support of nCino, Inc., a pioneer in cloud banking and digital transformation solutions for the global financial services industry, and Accenture.
Accenture and National Bank have combined their skills to implement the nCino Bank Operating System, making National Bank the first of the big six banks to implement this solution in Canada. nCino’s cloud-based platform helps financial institutions rapidly advance their offerings with innovative features and solutions.
Leveraging the nCino platform helps simplify and automate the commercial financing process to provide a distinctive experience to small, medium and large businesses supporting them in their growth. The launch of this new financing platform notably allows small businesses to obtain a financing decision in just a few minutes and receive funds in as little as 24 hours.
This initiative will contribute to National Bank’s priority of being a bank that builds long-term relationships and that stands out through its knowledge of its customers.
“At National Bank, we are constantly improving our service offerings to help companies achieve their goals and realize their ideas—this is why we are pleased to collaborate with Accenture and nCino to offer a solution that improves the customer financing experience while simplifying the lives of our employees,” said Mario Desautels, Senior Vice-President – Strategy, Solutions and Processes for Commercial Banking at National Bank. “We are confident that our clients will appreciate the speed at which their funding request is processed.”
Accenture’s role included project management, process optimization, design, development, testing, change management and post-production support from teams in Montreal and across its global delivery network.
“Commercial banks today are making digital transformation a top priority as they embrace changing customer dynamics and tackle legacy systems and the need to compete in a challenging environment,” said Tim Lefebvre, a managing director in Accenture’s Financial Services group in Canada. “National Bank’s move to nCino’s cloud-based platform helps it deliver an improved, tailored experience that meets the evolving expectations of clients and employees, and we look forward to continuing to help National Bank accelerate its transformation.”
“Understanding the customer’s needs and wants and creating an experience that helps them in a meaningful way is a key driver of digital transformation in financial services,” said Pierre Naudé, Chief Executive Officer at nCino. “We’re incredibly proud to be working with National Bank and Accenture to deliver the nCino Bank Operating System to help the bank streamline and automate its commercial lending to better serve small, medium and large businesses throughout Canada.”
Accenture is a global professional services company with leading capabilities in digital, cloud and security. Combining unmatched experience and specialized skills across more than 40 industries, we offer Strategy and Consulting, Interactive, Technology and Operations services — all powered by the world’s largest network of Advanced Technology and Intelligent Operations centers.
Accenture’s Banking industry group helps retail and commercial banks and payments providers boost innovation; address business, technology and regulatory challenges; and improve operational performance to build trust and engagement with customers and grow more profitably and securely.
About National Bank of Canada
With $332 billion in assets as at October 31, 2020, National Bank of Canada, together with its subsidiaries, forms one of Canada’s leading integrated financial groups. It has more than 26,500 employees in knowledge-intensive positions and has been recognized numerous times as a top employer and for its commitment to diversity.
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’s single digital platform enhances the employee and client experience to enable financial institutions to more effectively onboard new clients, make loans and manage the entire loan life cycle, and open deposit and other accounts across lines of business and channels.