WILMINGTON, N.C., Dec. 12, 2019 /PRNewswire/ -- nCino, the worldwide leader in cloud banking, today announced that it has again been recognized as the top vendor by Aite Group in the analyst firm's 2019 report "Commercial Loan Origination: Evaluating Vendors That Hone the Tip of the Spear". In addition to the top position in the overall evaluation, Aite Group selected nCino for "The World Traveler Award" for its global expansion, "which has resulted in an installed base that is enviably geographically diversified."
This marks the second consecutive time nCino has received the highest ranking in Aite Group's Matrix, a proprietary Aite Group vendor assessment framework. This year, Aite Group evaluated 18 vendors providing systems for the automation of commercial loan origination (CLO) worldwide. The report assessed each company for their features and functionalities, analysis capabilities and system and data integrations, and also considered each company's domestic and international market presence as well as their growth and product roadmap.
David O'Connell, senior analyst with Aite Group's Wholesale Banking team and author on the report, said, "More financial institutions are embracing automation of CLO as a route to processes that are more efficient, supportive of scale, and able to deliver fast loan-application turnaround times and provide an overall better borrower experience. nCino is being increasingly embraced in the market due to the company's enterprise-wide approach under which it is positioned as the vendor of choice for both commercial and business lending, enabling a single platform for employees to learn and a consolidated view of a borrowing relationship, one that encompasses all debt related to a business and its principals."
The analyst group determined the nCino Bank Operating System to be the best in class based on multiple factors, including:
- nCino's cloud-based solution that stretches across onboarding, deposits and loan origination, providing a true single platform;
- nCino's capability expansion extending the features and functionality of the platform through artificial intelligence via nIQ, and more deeply into regulatory compliance including ALLL/CECL; risk management; and portfolio analytics; and
- The amount of nCino's total revenue that is invested in research and development to fuel product innovation.
"We are honored to once again be named the leading CLO vendor," said Trisha Price, chief product officer at nCino. "Through our commitment to continuous innovation and track record of successful execution, we have been able to deliver meaningful business value to the financial institutions we serve and help our customers improve their commercial lending operations and better meet their customers' needs. Aite Group's repeated recognition of our efforts to transform financial services speaks to the strength of the nCino Bank Operating System, our mission and our team, and we're extremely proud to receive this acknowledgement from such a respected analyst group."
nCino is the worldwide leader in cloud banking. Its Bank Operating System improves employee efficiency while enhancing the customer experience for onboarding, loans and deposits across all lines of business. Transforming how financial institutions operate through innovation, reputation and speed, nCino works with more than 1,100 financial institutions globally whose assets range in size from $30 million to $2 trillion. A proven leader, nCino is part of the Forbes Cloud 100 and was named the #1 "Best Fintech to Work For" by American Banker. Follow @nCino or visit www.ncino.com.