Coast Capital Enhances Digital Offerings Through nCino Platform
nCino’s online lending solution now live for credit union’s retail and small business members
TORONTO and SURREY, British Columbia, March 23, 2021 (GLOBE NEWSWIRE) -- nCino, Inc. (NASDAQ: NCNO), a pioneer in cloud banking and digital transformation solutions, today announced that Canada's largest credit union by membership and one of the country’s first federal credit unions, Coast Capital, is now live on the nCino Bank Operating System®. The functionality of the nCino Bank Operating System has allowed Coast Capital to operate more efficiently, manage risk and compliance more effectively, and optimize and accelerate the deployment of one solution throughout the organization.
As the first financial institution in Canada to introduce the system, Coast Capital has brought in the nCino Bank Operating System to further improve agility and scalability as the credit union continues to grow into new markets.
“When we engaged nCino, we had a vision to simplify our process and move away from various aging systems,” explains Lisa Colangelo, Coast Capital’s Senior Vice President, Retail Banking. “We needed a seamless, digital solution that could improve both our employee and member experience.”
With nCino, Coast Capital members can now engage with the platform through various channels including in-branch, online, via Coast Capital’s Advice Centre, and through the organization’s team of small business advisors. In addition, the platform increases transparency across each line of business, producing a best-in-class workflow throughout the organization as part of an end-to-end loan origination process.
To complement the implementation, Coast Capital has also collaborated with nCino on commercial, retail and small business solutions to further leverage a single platform approach.
“Coast Capital is acutely aware that consumer needs across the financial industry are changing,” said Cam Sterrett, nCino's General Manager, Canada. “The nCino platform digitizes and automates multiple lines of business to meet the current needs of members and market expectations, while also innovating and evolving into the future. We are excited to continue our work with Coast Capital to deliver an experience that will elevate the institution as a financial services leader in Canada.”
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 Coast Capital
Coast Capital is Canada’s largest credit union by membership and B.C.’s first credit union to become a federal credit union. Owned by its 593,000 members, Coast Capital offers banking and investment services digitally across Canada, and through its 52 branches in the Metro Vancouver, Fraser Valley, Okanagan, and Vancouver Island regions of British Columbia. An Imagine Canada Caring Company and a Certified B Corporation in recognition of its social performance, Coast Capital invests 10 per cent of its bottom line into the community with a focus on youth-centric organizations, programs, partnerships and events. The credit union has been recognized as a member of Canada's Most Admired Corporate Cultures Hall of Fame, and holds a Best Managed Companies Platinum Club designation. Coast Capital has a history of introducing innovative products to help their members achieve financial wellbeing including Canada’s first free chequing account from a full-service financial institution and Help Extras®, enabling members to invest in their future. To learn more, visit coastcapitalsavings.com.
|Claire Sandstrom, nCino||Ryan Kelly, nCino|
|+1 646.520.0710||+1 732.770.5942|
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.