Ashman Bank partners with nCino to bolster its tech platform, after being awarded first UK banking licence of the year
Partnership will support real estate lender with fast decision making and flexible credit offerings via a cloud-based platform
LONDON, UK, October 27 2022 -- nCino, Inc. (NASDAQ: NCNO), a pioneer in cloud banking and digital transformation solutions for the global financial services industry, today announced its partnership with Ashman Bank, a new entrant bank with plans to transform the banking experience for UK property SMEs (small and medium sized enterprises), a £90bn [1] market opportunity. Ashman Bank, which was awarded the UK’s first new banking licence in 2022, has selected nCino’s Bank
Operating System® as its foundational technology for its life cycle property finance solution, from refurbishment right through to development and investment.
Through its digital-first and cloud-based approach to commercial real estate lending, Ashman Bank aims to drive change in an industry where over four-fifths (84%) [2] of SMEs are frustrated by slow decision-making and inflexible credit offerings. By implementing nCino, Ashman Bank will offer products and services that provide the know-how and incentives to create the sustainable properties and practices of tomorrow and make it easier for SMEs to access the right financing for their needs, delivered with speed, automation, and personalisation.
“Partnering with nCino takes us one step closer to being able to transform the banking experience for property SMEs,” Caroline Luxmore, Chief Commercial Officer at Ashman Bank added. “nCino gives us the best and most efficient platform for us to realise our ambitions as a digital-first bank, and we believe that together we can create a meaningful change in the UK real estate market.”
“Ashman Bank is an ambitious new entrant that will provide real estate lending for conscientious businesses in the UK. It is bringing an innovative approach to commercial real estate, and nCino can help the Ashman team execute, grow and adapt as the bank expands,” said Charlie McIver, Managing Director, EMEA at nCino. “We’re proud to be playing a role in Ashman’s launch.”
Ashman plans to launch early in 2023. The senior leadership team boasts extensive experience in the financial services sector, with previous roles across Barclays, HSBC, RBS, Aldermore, Monzo, and Capital One. Its launch builds on the established record of UK challenger banks, with innovative technology and customer experience at the forefront of all operations.
[1] Source: CASS 2018 business survey
[2] https://www.gov.uk/government/consultations/sme-finance-help-to-match-smes-rejected-for-finance-with-alternative-lenders
About nCino
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.
MEDIA CONTACTS
Jasmin Athwal, nCino
+44 7881 374552
jathwal@mww.com
Natalia Moose, nCino
+44 7825 211135
natalia.moose@ncino.com
