B2B Payments

Santander Adopts nCino Platform For Faster SMB Lending

Santander Bank is adopting nCino technology to accelerate its business lending operations, the FI announced on Wednesday (July 18).

Santander's business banking unit has integrated nCino's bank operating system, a cloud-based tool that supports omnichannel access to Santander services and reduces the time it takes for the bank to make a decision on a loan application.

The bank said the integration can cut the loan decision time by 40 percent, and that the platform automates the lending process from beginning to end while providing borrowers with insight into the progress of the loan.

"nCino's platform automates the lending process from start to finish in a way that ensures a seamless, transparent experience for our customers that reduces delays and inefficiencies and securely connects our clients to our banks whenever they need them with the touch of a button," said Amir Madjlessi, Santander's executive vice president and managing director of business banking.

Additional features will be added onto the nCino platform for Santander customers as the year continues, the bank noted, beginning with online loan application and customer relationship features.

In another statement, nCino CEO Pierre Naudé said that Santander's adoption of the nCino platform represents the bank's understanding of the importance of a positive end user experience, as well as automated middle- and back-office technology.

The integration of the nCino platform is part of nCino and Accenture's existing partnership to support banks' digitization efforts and to assist in technology adoption.

"We're excited to leverage our cloud and credit expertise to deliver a solution that provides Santander with a robust and centralized banking platform," said Jared Rorrer, Accenture managing director and nCino global practice lead.

Last year, nCino announced updates to its banking operating system to accelerate small business lending functionality, including underwriting and eSignature capabilities. At the time, nCino EVP of Product Development and Engineering Trisha Price said that small business lending is "often inefficient," and that banks need tools to compete with alternative lenders that deploy faster online lending services.

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