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Vancity Transforms Its Commercial Banking Operations

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Commercial Banking

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North America
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TORONTO, Dec. 01, 2020 (GLOBE NEWSWIRE) — nCino, Inc. (NASDAQ: NCNO), a pioneer in cloud banking and digital transformation solutions for the global financial services industry, and Accenture (NYSE: ACN) have supported Vancity, Canada’s largest community credit union, in evolving its commercial lending business through the implementation of the nCino Cloud Banking Platform.

With over CA$28.2 billion in assets and more than half a million members, Vancity sought an agile technology to grow its commercial lending business and replace a 15-year-old legacy system. The credit union selected the nCino Bank Operating System, an end-to-end cloud-based platform that manages the entire loan lifecycle — including origination, loan reviews, renewals and modifications — eliminating the need to combine various point solutions.

Working alongside teams from Vancity and nCino, Accenture helped implement the nCino platform on time and budget, despite the project occurring in the midst of the COVID-19 pandemic — which made the cloud-based nature of the platform particularly important, as Vancity’s members and employees shifted to a remote work environment.

In addition to benefitting Vancity’s commercial loan book, the nCino platform is helping the credit union align processes across lines of business, automate tasks and streamline workflows. Because the nCino Cloud Banking Platform is flexible and configurable, Vancity can continue to customize processes as they see fit to best suit their evolving needs.

“By adopting nCino for our commercial lending operations, we’ve embraced a cloud-based technology with regular updates and releases that will grow along with us and help us remain competitive and agile,” said Nez Aquino, chief risk officer at Vancity. “We see nCino as an incredible value-add to our organization, not only from a platform standpoint, but also as partners along our digital transformation journey.”

“Digital transformation is top-of-mind for commercial banks of all sizes and particularly credit unions as they embrace changing customer dynamics, and deal with aging legacy systems and the pressure to compete in a challenging environment,” said Robert Vokes, Accenture’s Financial Services practice lead in Canada. “Vancity’s decision to evolve its operations and streamline various businesses with nCino’s cloud-based platform will help them deliver an improved, tailored experience that meets the evolving expectations of members and employees. This is a great example of the scalability of nCino’s platform and the deep industry expertise and talents of our people to bring it alive with our clients.”

“Vancity is a great Canadian brand and a real leader in the credit union space, and they should be very proud of how they’ve helped to develop the communities they serve,” said Cam Sterrett, area vice president and general manager – Canada at nCino. “With nCino, Vancity has put a foundational system in place that will give them the ability to grow their member-facing digital front end and further fulfill their mission of improving their members’ financial well-being. We very much appreciate the great work our organizations, alongside Accenture, have been able to do together so far and look forward to expanding these relationships into the future.”