QUEBEC CITY - Desjardins Group, North America's largest cooperative financial group, is set to adopt nCino, Inc.'s (NASDAQ: NCNO) Automated Spreading Solution to streamline its loan underwriting process. This move, announced today, is aimed at increasing efficiency and improving the quality of credit decisions.
Desjardins, which already implemented nCino's Small Business and Commercial Banking Solutions in 2022, has seen a significant speed-up in its loan origination process, cutting down unnecessary waiting periods for its members and clients.
The new Automated Spreading Solution, powered by nCino IQ (nIQ), employs machine learning to enhance the capture of financial statement data and facilitate multilingual document handling, catering to the diverse needs of Desjardins' clientele.
Jean-Yves Bourgeois, Executive Vice-President of Business Services at Desjardins, highlighted the cooperative's commitment to minimizing delays and enhancing digital offerings. "With nCino's spreading solution, we will be able to remain a leader and continue to offer members and clients a seamless user experience," Bourgeois stated.
Greg Wipke, Vice President of Sales, Canada, at nCino, expressed pride in the strengthened partnership and the anticipated benefits for Desjardins' operational efficiencies and client experiences.
nCino is recognized as a world leader in cloud banking, partnering with over 1,800 financial services providers globally. Its SaaS platform is designed to modernize financial institutions' operations, enhancing client onboarding, loan management, and account opening processes.
Desjardins Group, with assets totaling $422.9 billion as of December 31, 2023, is not only a prominent financial institution in North America but also globally, ranking as the fifth largest cooperative financial group worldwide. It is known for its strong capital ratios and credit ratings, and has been named one of Canada's Best Employers.
This development is based on a press release statement and reflects the ongoing trend of financial institutions leveraging technology to improve operational efficiency and customer service.
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