Santander Bank announced July 18 it will begin using nCino technology to speed up business lending operations. This new integration will be available to customers as the year progresses, adding more features gradually; using nCino is estimated to cut loan-decision time by 40%.
The operating system nCino uses clouds to create omnichannel access for Santander services. By using clouds and filtering information, determining creditworthiness becomes much quicker and leads to a loan decision being made in a shorter period of time.
More features will be added for Santander customers as the bank becomes accustomed to nCino. Santander mentioned including online loan applications and customer relationship features.
Part of nCino’s goals stem from simplifying technological features and easing banks and customers into the world of digitized banking. Since the partnership between nCino and Santander is just beginning, more digital banking innovations will likely emerge in the future.
—Christie Citranglo, editorial associate