Cynergy Bank implements nCino Bank Operating System for SME lending

By Sunniva Kolostyak

Cynergy Bank, the specialist banking provider, has extended its partnership with cloud banking and digital transformation solutions provider nCino for its nCino Bank Operating System in order to support its SME lending processes.

The implementation follows a successful deployment of the Coronavirus Business Interruption Loan Scheme (CBILS) with the company last year and plans on using the nCino platform to elevate digital banking for its customers.

The platform allows employees of the bank, which specialises in the needs of business owners, property entrepreneurs and family businesses, to spend more time with customers as it eliminates a number of manual tasks.

Cynergy decided to expand its use of nCino products after utilising the provider’s solutions for CBILS processing, online applications, underwriting, automated decisioning, document preparation and closing. This process ‘redefined the digital experience for its borrowers and employees’ as they collaborated on the same platform, reducing the need for paper-based processes, the bank said.

Michael Rennie, Chief Digital Officer at Cynergy Bank, stated: “We want our customers to have an unrivalled human digital banking experience and are committed to using technology to enhance our market-leading customer service, delivered by our relationship managers.”

“As we continue to adapt at a rapid pace to meet the needs of our customers, we need a flexible and agile technology solution with the ability to scale as our business evolves. The nCino platform has become an invaluable element of our banking infrastructure to deliver on the digital-first expectations of our customers.”

Also commenting, Edward Lane, VP Sales – EMEA at nCino, said: “We’re proud to be working alongside Cynergy Bank as it fulfils its commitment to innovating its business and determining the best ways to serve its customers.”

“In today’s world, time to market and time to serve are more critical than ever before, and I am delighted that we have been able to help Cynergy quickly and materially affect both.”