Integration enables intelligent risk insight, frictionless integration, and customer lifespan monitoring in an easy-to-use platform
Thincats, an alternative lender specializing in the service of SMEs, is the first organization directly on the integration
LONDON, August 10, 2021 / PRNewswire / – DueDil, a respected business intelligence platform, announced a new collaboration with nCino, Inc. (NASDAQ: NCNO), a pioneer in cloud banking and digital transformation solutions for the global service industry financial. Thanks to this collaboration, DueDil and nCino are able to offer financial institutions in the EMEA zone powerful due diligence tools that integrate seamlessly with the nCino Bank Operating SystemÂ®. The integration aims to onboard customers faster and better manage risk on a single platform.
ThinCats, an alternative lender focused on midsize SMEs, became the first financial organization to take advantage of this integration. ThinCats now runs all of its Know Your Business (KYB) verifications through DueDil on the nCino platform, which has enabled ThinCats to minimize risk while maximizing loan volumes, while facilitating faster and better loan decisions. informed.
“An important reason for the initial partnership with nCino, beyond the speed at which we were able to implement and its robust functionality, was the platform’s ability to easily integrate with other applications.” , said Steve o’neill, CTO at ThinCats. âWe wanted a platform that could grow with us and accelerate new opportunities and this integration is a great example of that in action. Thanks to the excellent compatibility between the nCino and DueDil technologies and the strong collaboration between the respective teams, we now have a valuable source of new data integrated into our existing operating processes. “
SMEs are the lifeblood of the UK economy, with Parliament reporting that there were 6.0 million SMEs in the UK in 2020, accounting for over 99% of all businesses. However, due to the negative financial impacts of Covid-19 on SMEs, financial organizations have had to deal with increasing levels of loan fraud, making the need to assess potential risks greater than ever before.
DueDil’s market-leading business intelligence platform provides the information lenders need to verify businesses are legitimate and honest in their reporting, including financial data, ownership structure, and risk of loss. credit, and presents unique information.
“It is not unfair to say that the last 15 months or so have been among the most difficult on record for SMEs in the UK,” said Justin Fitzpatrick, CEO of DueDil. âEasy access to finance was and continues to be the lifeline for survival. NCino customers in the EMEA region can now offer funding in a more conservative manner by leveraging the DueDil API for KYB checks. With so many financial services brands already using nCino, the ease and availability of consuming DueDil has become considerably simpler. We are proud to work together to make KYB checks more accessible to the lending industry. “
“We are delighted that the integration between nCino and DueDil has provided ThinCats with the opportunity to realize even more benefits for its staff and customers,” said Rob martin, Head of Technological Partners at nCino. âAutomation remains one of the best weapons to reduce the risks financial institutions face with respect to compliance and fraud issues. As we have all seen over the past year, it is extremely important that financial institutions adapt their technology to current market needs and we see this collaboration as a proactive way to help institutions establish best practices. to manage risk and compliance. “
Founded in 2011, DueDil is a business intelligence platform that provides information about every UK and Irish business and the people who support them. DueDil provides a comprehensive view of the UK and Irish market, so the SME onboarding process is as robust as it is smooth. All of this is available in a single KYB for Life platform that ensures compliant integration and proactive risk monitoring.
In March 2020 DueDil was named RegTech Partner of the Year for the second consecutive year at the British Banking Awards in recognition of its work in transforming the digital customer journey for tens of thousands of UK SMEs. DueDil has a number of well-known clients including Santander, Metro Bank, Funding Options and TSB Bank.
ThinCats is an established alternative lender dedicated to financing mid-sized SMEs with commercial loans ranging from Â£ 1m to Â£ 15m using pioneering data, personal connections and a pragmatic lending process. ThinCats’ phased approach has already enabled SMEs to borrow over Â£ 1 billion. www.thincats.com
ThinCats is the trade name of a group of companies owned by ESF Capital Limited.
nCino (NASDAQ: NCNO) is the global leader in cloud banking. The nCino Bank Operating SystemÂ® provides financial institutions with scalable technology to help them increase revenues, increase efficiency, reduce costs and comply with regulations. In a digitally driven world, nCino’s unique digital platform enhances the employee and customer experience to enable financial institutions to more effectively onboard new customers, grant loans and manage overall loan lifecycle, and open deposits and other accounts across all lines of business and channels. . Transforming the way financial institutions operate through innovation, reputation and speed, nCino works with more than 1,200 financial institutions around the world, with assets ranging from $ 30 million over 2,000 billion dollars. For more information visit: www.ncino.com.
Contact: Nunzia Cassese – 07475897197