Aussie challenger Judo Bank picks nCino Bank Operating System
Australian challenger for business banking Judo Bank has selected nCino and its Bank Operating System.
Judo Bank claims to be the country’s first challenger bank for small and medium sized enterprises (SMEs).
Through its new deal with nCino it hopes to automate banking processes and concentrate on “traditional relationship lending and vital credit” to customers.
Tim Alexander, chief product officer for the bank, says its mission is to “be a champion” for Australian SMEs.
“We share the same view as nCino when we say partnerships matter. That’s why we selected them to help us disrupt the industry […] to better finance the growth ambitions of Australian SMEs.”
Mark Berhardi, general manager for APAC at nCino, adds that Judo can provide new options to SMEs across Australia.
“We look forward to building upon our partnership to support Judo’s craft of relationship banking.”
A July IPO saw nCino price itself at $31 a share and raise $249 million. nCino shares started trading on Nasdaq on 14 July, under the ticker ‘NCNO.’
There were seven banks underwriting the deal, led by Bank of America and Barclays. The funds went to general corporate purposes and working capital.