Avenue Bank Reimagines SME Business Banking with nCino
Australian new digital business bank redefines banking experience to enhance offerings for small and medium-sized businesses
SYDNEY, Australia, Sept. 26, 2022 (GLOBE NEWSWIRE) — nCino, Inc. (NASDAQ: NCNO), a pioneer in cloud banking and digital transformation solutions for the global financial services industry, today announced that Avenue Bank, an Australian start-up digital business bank specialising in serving small and medium-size businesses, is live on the nCino Bank Operating System®. Avenue Bank deployed nCino’s Commercial Banking Solution to support customer onboarding, origination, credit risk management and customer 360 view—providing their employees with key insights and the automation necessary to deliver a faster response and seamless experience for their customers.
“nCino embedded their high-quality solution into our greenfield digital strategy in just over 4 months. With their guidance, we’ve been able to design products and implement best-in-class technology to meet our needs—and the needs of our target customers,” said George Confos, CEO and Executive Director. “As a cloud-based, digital product-led business like nCino, our values and mission make this partnership a win-win for not just our customers, but for our people, too. nCino’s team was highly engaged throughout the entire project, making our team confident that Avenue Bank’s success was their top priority.”
Small and medium-sized enterprise (SME) businesses are a fundamental part of the global economy. nCino’s platform supports both the financial institution and the customer from the very beginning, to deliver an efficient, end-to-end banking relationship, enhancing customer relationships and increasing loan profitability and response time. nCino’s single platform helps drive Avenue Bank’s digital strategy that focuses on making timely, quality decisions and operating within a high-tech, low-touch environment.
“Across the industry, financial institutions can add significant value by adopting digital technologies like nCino to deliver faster customers insights, respond more quickly to new market trends, and scale efficiently to stay ahead of the competition,” said Mark Bernhardi, Managing Director of Australia and New Zealand at nCino. “It’s always an exciting opportunity to partner with another entrepreneurial and progressive organisation such as Avenue Bank and provide new and innovative ways to better serve their customers. Avenue is on a mission to exceed the business banking standards across the Australian market, and nCino’s platform is helping to fulfil that goal.”
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 cloud-based platform enhances the employee and client experience to enable financial institutions to more effectively onboard 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 is partnered with more than 1,750 financial institutions of all types and sizes on a global basis. For more information, visit www.ncino.com.
About Avenue Bank
Avenue Bank is a digital business bank, built for small to medium Australian businesses of the 21st century. Our mission is to put money in the hands of businesses. We’re intent on recreating the entire experience of what it means to be a business bank. Small businesses want banking solutions which meet their needs, which is why we’ve developed smarter, digitally-enabled products to free up cash, so Aussie businesses can do more with their money. Australian businesses are our sole focus and we’re determined to do things differently to help all our small business customers. Avenue Bank: Business banking done differently. To find out more visit www.avenuebank.com.au.
Catalina Garcia, nCino
+61 418 215 423
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 including, among others, risks and uncertainties relating to the market adoption of our solution and privacy and data security matters. 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.