This will allow OakNorth to cost effectively configure loan processes and quickly scale.

The challenger bank selected nCino as it liked the fact that it was built on Salesforce.com, which would allow the bank to extend its use of this customer relationship management platform.

“As a younger bank with a fresh perspective, we saw an opportunity to provide superior banking services to our customers by forgoing traditional, antiquated, siloed systems in favour of a new way of banking,” said Francesca Gandolfo, chief operating officer of OakNorth Bank.

“nCino has helped us further that vision by working alongside our core to reduce laborious manual tasks and incorporate automation into our loan process, increasing loan quality, controls and speed via the cloud.

“With the nCino platform, we look forward to continuing our institution's growth during this exciting time in the financial services industry.”

OakNorth has committed to cloud-based systems for their ability to keep pace with market changes and evolving consumer preferences, as well as their flexibility to simplify integration points and expand product offerings faster.

The bank has gained a spectrum of new efficiencies across its commercial lending platform since implementing nCino's bank operating system and has also benefited from the security framework provided by nCino.

“OakNorth Bank's pioneering perspective on cloud banking – combined with its commitment to providing optimal customer service – makes it an ideal nCino partner,” said Pierre Naudé, CEO of nCino.

“The bank has already added a valuable level of productivity, speed and digital engagement to the loan process for both its employees and customers.

“We are excited to see how OakNorth continues to drive transformation in banking, and look forward to partnering with other European-based financial institutions as cloud adoption continues to increase.”