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ThinCats Improves the SME Lending Experience for Clients with nCino’s Digital Banking Platform

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  • NCNO

ThinCats looks to streamline lending processes and increase loan volume by moving its operations to the Cloud

LONDON, Nov. 10, 2020 (GLOBE NEWSWIRE) -- nCino, Inc. (NASDAQ: NCNO), a pioneer in cloud banking and digital transformation solutions for the global financial services industry, today announced that leading alternative mid-sized business lender, ThinCats, is expanding its use of the nCino Bank Operating System® across its wider SME lending processes. The extension follows the successful deployment of nCino’s Coronavirus Business Interruption Loan Scheme (CBILS) workflow this summer.

The CBILS programme highlighted the ever-increasing importance for fast loan processing as small and medium-sized businesses endeavor to restart trade. In response to the pandemic, ThinCats quickly embraced a digital-first mindset and a new technology solution. By adopting nCino’s cloud-based platform, ThinCats has been able to manage CBILS loans from the initial application through drawdown and beyond, including ongoing monitoring and customer servicing.

By implementing additional features and functionalities of nCino’s cloud-based technology, all of ThinCats’ SME clients will now have an enhanced digital lending experience, not just those applying for CBILS loans. Through the next phase of implementation, ThinCats will utilise nCino to manage and improve the time-consuming process of collating documents through nCino’s Document Management, Collateral Management and Covenant features.

“After carefully considering other solutions available in the Salesforce ecosystem, we are delighted to be working with nCino for a wider rollout of the nCino Bank Operating System across our operations,” said Steve O’Neill, Chief Technology Officer at ThinCats. “We pride ourselves on delivering a personal, local and flexible service to businesses and their advisers through our regional network. Our partnership with nCino means that we can spend more time shaping the right funding solution for our clients and less time on manual administration. nCino’s technology is tried and tested in the business lending sector and we look forward to maintaining a long-term partnership.”

Edward Lane, VP Sales at nCino – EMEA said, “The power of technology and cloud operations has been put under a spotlight during the pandemic. Through our CBILS partnership, nCino enabled ThinCats to provide its clients with loan decisions and funding quickly and across any digital channel. We’re pleased that this evolution of our relationship will provide ThinCats the opportunity to realise even more benefits for its staff and clients and are excited to be working with them in this additional capacity.”

About nCino
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. Transforming how financial institutions operate through innovation, reputation and speed, nCino works with more than 1,200 financial institutions globally, whose assets range in size from $30 million to more than $2 trillion. For more information, visit: www.ncino.com.

About ThinCats
ThinCats is an established alternative lender dedicated to funding mid-sized UK SMEs with business loans from £1m up to £15m using pioneering data, personal relationships and a pragmatic lending process. ThinCats’ progressive approach has already enabled SMEs to borrow more than £665m. www.thincats.com
ThinCats is the trading name of a group of companies owned by ESF Capital Limited.

MEDIA CONTACTS

Tom Broughton, MWWPR
+44 7852833925
tbroughton@mww.com

Natalia Moose, nCino
+1 910.248.4602
natalia.moose@ncino.com

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 use of the words “believes,” “expects,” “intends,” “anticipates,” “plans,” “seeks,” “estimates,” “projects,” “may,” “will,” “could,” “might,” or “continues” or similar expressions. Any forward-looking statements contained in this press release are based upon nCino’s historical performance and its current plans, estimates, and expectations, and are not 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 cause these expectations to change and, except as may be required by law, nCino does not undertake any 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. Additional risks and uncertainties that could affect nCino’s business and financial results are included in reports filed by nCino with the U.S. Securities and Exchange Commission (available on our web site at www.ncino.com or the SEC's web site at www.sec.gov). Further information on potential risks that could affect actual results will be included in other filings nCino makes with the SEC from time to time.