Citadele Prepares for Growth by Investing in Flexible Infrastructure Provided by the Cloud-based nCino Bank Operating System®
Baltic-based bank is the first in Central and Eastern Europe to utilise nCino to improve its lending processes
LONDON, United Kingdom and RIGA, Latvia, March 03, 2021 (GLOBE NEWSWIRE) -- nCino, Inc. (NASDAQ: NCNO), a pioneer in cloud banking and digital transformation solutions for the global financial services industry, today announced that Citadele Bank, the second largest bank in Latvia by assets, will adopt the nCino Bank Operating System to help modernise its Corporate lending business in the Baltics. Citadele will use nCino’s platform to improve how applications for Corporate loans are processed and help drive greater efficiencies for its Corporate banking division.
Understanding the need to use modern technology to enhance the client and employee experience, Citadele sought to replace several legacy systems to create a more efficient loan origination process and have a truly digital lending platform with greater visibility at all stages of the loan process. Using nCino’s single platform, Citadele will be able to quickly and efficiently navigate Corporate and SME clients’ loan journeys and replace manual, repetitive employee tasks resulting in more meaningful interactions with clients.
Vladislavs Mironovs, Chief Strategy Officer, Member of the Management Board at Citadele Bank, said, “Citadele is a bank with one of the best customer services in the Baltics, and our goal is to provide the best possible solutions for our clients, allowing them to pursue their business interests. We are pleased to be working with nCino, a leading global technology solution provider for financial institutions. The nCino platform will provide us with the valuable next step in our Corporate and SME banking transformation as we look to further execute on our digital strategy in the Baltics. We’ve been excited by the work nCino does with major banks in the UK and across the globe and we strongly believe this partnership will result in an outstanding client experience across the markets we serve.”
Working with Citadele’s existing internal workflow, the adoption of the nCino platform means Citadele can facilitate complex and intricate commercial, Corporate and SME loans rapidly and efficiently and provide a consistent experience across all loan types. Through nCino’s flexible and scalable platform, Citadele can also expand its loan origination processes to other products and services the bank offers.
Outside of increased time efficiencies, nCino will help Citadele realise additional benefits including reduced costs, improved auditing, reporting and compliance, and the ability to view the lending process at all stages. The digitisation of its lending and control workflows means Citadele team members can free up time to concentrate on servicing clients, while implementing valuable automation to back-end processes.
Julien Sarat, Area VP Sales at nCino, added, “Citadele has a history of innovation and we’re pleased that we can support them continue their mission of setting new industry standards in the region. As the bank grows its presence in the Baltics, nCino’s flexibility and scalability can help give Citadele a valuable competitive advantage for the long term. We are very proud to be working together.”
About Citadele Bank and Citadele Group:
Citadele’s mission is to modernise the banking sector and offer more opportunities to private clients and businesses throughout the Baltics.
Alongside classic banking services, Citadele offers its clients a range of services based on next-generation financial technology, including its modern app, contactless and instant payments, and finally, being the first in the Baltics to introduce opening of an account with a selfie, payment rings and payments to mobile numbers.
In the yearly customer service evaluation survey by Dive, Citadele bank was named as the bank with one of the best customer services in the Baltics - for the sixth time Citadele`s customer service in Latvia has been evaluated as the best, No. 2 in Lithuania and No. 3 in Estonia.
Citadele Group is headquartered in Latvia, and its subsidiaries are located in Latvia, Lithuania, Estonia, and Switzerland. Citadele Group’s shareholders are an international consortium of investors with global experience in the banking sector and the European Bank for Reconstruction and Development.
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.
|Claire Sandstrom, nCino |
|Natalia Moose, nCino|
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