Czech lender Československá obchodní banka (ČSOB) has chosen the nCino platform for the digitalisation and optimisation of its commercial and small and medium-sized enterprise (SME) lending operations.
This initiative aims to improve service delivery and efficiency within its core banking processes.
Operating since more than five decades, ČSOB has been embarking on digital transformation to adapt to shifting customer needs.
CSOB SME and corporate segment executive director Tomáš Stegura said: “We’re dedicated to bringing best-in-class technology to our clients and ensuring we stay at the forefront of financial innovation.
“With nCino, we are taking an exciting step forward in our ability to provide fast, tailored lending solutions that meet the demands of today’s market.”
By adopting the nCino Commercial Lending Solution, ČSOB seeks to develop seamless digital interactions and gain enhanced insights into client preferences, thereby offering more tailored services.
The nCino Commercial Loan Origination System (CLOS) offers a unified platform capable of adapting alongside financial institutions in response to market variations. It replaces fragmented systems with a cohesive commercial loan origination framework that facilitates collaboration and transparency between various departments.
Additionally, it accelerates the loan origination process through automation, enhances portfolio management with real-time reporting, and improves performance across lending teams.
The nCino platform integrates intelligent automation into all facets of the commercial lending process, from initiation to underwriting and portfolio oversight.
Key functionalities include expedited customer onboarding via preconfigured workflows, automated pre-qualifications aligned with institutional policy guidelines, and setting criteria for loans eligible for automatic approval or manual evaluation.
ČSOB, which is a fully owned subsidiary of KBC Bank caters to a spectrum of clients including individuals, SMEs, corporations, and institutions. It offers a range of banking products and services through its financial group, comprised of key subsidiaries such as ČSOB Hypoteční banka and ČSOB Pojišťovna, among others under direct or indirect control by ČSOB or KBC.
nCino Europe, the Middle East, and Africa (EMEA) managing director Joaquin de Valenzuela said: “We’re excited to partner with ČSOB to bring exceptional experiences to its clients.
“nCino is a trusted partner to financial institutions worldwide, and we look forward to driving the industry forward with our intelligent solutions and innovative partners like ČSOB.”
nCino is currently said to maintain clients in over 10 European markets. The company supports a variety of financial institutions including neobanks and multiple UK banks through its solutions for commercial lending, retail lending, SME banking, and customer onboarding.
