Funda Finance Partners in lendtech revamp with nCino
Funda founders: CEO Nathan Wright (left) and CFO & COO Mark Owen (right)
US-based nCino has gained further presence in Australia via a new deal with Funda Finance Partners, an SME lender.
New South Wales-based Funda will implement the vendor’s flagship cloud-based solution, nCino Bank Operating System, “to streamline its lending processes and enhance its customer experience”, nCino says.
“Funda chose nCino after searching for a technology solution that could serve as a central repository of information for its loan application process, help automate tasks and determine application outcomes,” the vendor explains, adding that it stood out for its “industry expertise and global footprint” as well as the system’s flexibility.
The nCino Bank Operating System will help Funda with collecting and analysing data, and provide the lender with document management, smart checklists and a centralised data location.
The new system will also enable Funda to expand further into the commercial lending space. Funda has been operating since 2013, offering small business loans.
“As a customer-centric organisation that prides itself on being faster than a bank and financially fairer than other non-bank lenders, we see the investment in nCino as a way to improve our customer journey and more swiftly assess loan applications,” states Mark Owen, Funda’s co-founder, CFO and COO.
Last year, Sydney-based commercial property lender Thinktank implemented nCino’s tech to automate and digitise its own internal processes.
nCino says it now works with 1,100+ financial institutions worldwide, with their assets ranging from $30 million to $2 trillion. Among its customers are UK-based SME challenger bank Recognise, Swedish SME lender DBT Företagslån, and Valley National Bank in the US.
