back Back

nCino Bank Operating System goes live at SME bank Recognise

By Megha Bhattacharya

February 10, 2021

  • Europe
  • nCino
  • UK
Share

Cloud banking and digital transformation solutions provider nCino today announced that its Bank Operating System has gone live at UK-based SME bank Recognise. The collaboration is expected to provide Recognise with a scalable platform for managing client-specific needs and enhancing customer service.

Jason Oakley CEO at Recognise, said, “We exist to realise the extraordinary potential of UK SMEs, the undisputed backbone of our economy. We recognise their needs, challenges and frustrations, and by addressing them head-on we’re driving prosperity, one ambitious business at a time. We do this by having a model that is led by strong relationship management, enabled by cutting edge technology. Our goal is for 80% of our employees’ time to be spent in front of clients rather than on transactional work. ”

“By working with nCino and implementing its platform, we have already seen, even at this early stage, how technology plays a valuable part in enabling a strong and effective client experience, which is why we will shortly launch our broker and customer portals to further enhance the experience for our key relationships.”

According to nCino, its workflow mirrors the loan journey, allowing applications – from enquiry or referral through to the loan drawdown – to be rapidly processed on a single, end-to-end platform. The cloud-based technology also helps financial institutions meet various compliance obligations while providing valuable, timesaving automation in lieu of tedious, manual tasks.

“The ease of configuration of nCino is already being evidenced as we learn from our early lending activity, and there is no need to wait months to implement enhancements, enabling us to become a SME signature bank in the UK,” added Monica Velasquez-Torres, Chief Technology Officer at Recognise.

Charlie McIver, Vice President of Customer Success – EMEA, at nCino said, “I’m extremely proud of how the nCino platform is helping Recognise provide a truly innovative service to its SME clients as well as the strong partnership our two companies have formed through the implementation process. Recognise has a thoughtful and ambitious team, dedicated to their mission, and we believe this is just the start of an amazing collaboration.”

Recently, Recognise received authorisation with restriction (AwR) from the PRA/FCA. The banking license from the PRA/FCA aims to address the service app for SMEs and enable Recognise to meet mobilisation conditions that will lead to the removal of the deposit restriction.

Previous Article

February 10, 2021

Clair partners with Mastercard to launch financial products for hourly workers

Read More
Next Article

February 10, 2021

Klarna launches consumer bank accounts in Germany

Read More







Advertise with us



IBSi Daily News Analysis

May 20, 2022

Europe

European Commission launches public consultation on PDS2

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

Today

RBL Bank team ups with Amazon Pay to offer UPI Payment Services

Read More

May 18, 2022

Temenos delivers digital banking solutions on AWS

Read More

May 18, 2022

ThinCats selects Mambu to scale and expand its SME lending offering

Read More

Related Reports

Sales League Table Report 2021

£ 1,500.00 / year

Know More
Emerging Technologies in Capital Markets

£ 500.00

Know More
Global Digital Banking Vendor and Landscape Report Q1 2022

£ 1,500.00 / year

Know More
Wealth Management & Private Banking Systems Report Q1 2022

£ 1,500.00 / year

Know More
Treasury and Capital Markets Systems Report 2021

£ 1,500.00 / year

Know More