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FullCircl & nCino partner to streamline financial services for SMEs

By Gloria Methri

October 05, 2023

  • Cloud Banking
  • Customer Lifecycle Intelligence
  • EMEA
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FullCircl, nCino, Cloud Banking, SME Lending, FinTech, UKFullCircl, the Customer Lifecycle Intelligence (CLI) platform that helps financial institutions (FIs) do better business faster, has announced a partnership with nCino, a pioneer in cloud banking.

The partnership brings together FullCircl’s data capabilities with nCino’s cloud banking platform via API to provide a fast, seamless, and data-driven experience for FIs to improve the speed, efficiency, and profitability with which they acquire, onboard, and serve SME customers.

Meeting the financial needs of SMEs remains a major challenge for financial institutions. The sector currently has unmet needs of approximately $5.2 trillion, 1.5 times the current lending market.

One in three SMEs identify a need for external finance, and yet only 45% feel confident they can secure this from their banking partner. With SMEs accounting for 99.9% of the UK business population, the opportunity for FIs that can respond quickly is huge. The partnership between FullCircl and nCino presents banks with a proposition that can help:

  • Optimise time to funding– cut onboarding times from weeks to minutes
  • Reduce risk– spot issues and act on opportunities faster
  • Minimise cost– remove friction and enhance the operational efficiency of credit practices
  • Accelerate revenue growth– serve SMEs successfully and cost-effectively at scale
  • Win and retain more SME customers– deliver more commercially beneficial outcomes

Stuart Boardman, Director of Channels and Revenue Partnerships at FullCircl said, “Unmet needs are opportunities for new value creation. This partnership tackles head-on the challenges financial institutions face in serving SME customers so that they can transform the lending experience and realise the vital value stream SMEs represent.”

Tom Byrne, GM of Commercial and Mortgage EMEA at nCino said, “We are excited about our partnership with FullCircl, which gives financial institutions the flexibility and scalability they need to meet the unique needs of small businesses at every moment of their customer lifecycle. This partnership is intended to help ensure lenders have the data to fully understand their customers and provide them with the right information at the right time in their journey.”

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