Santander Overhauls Biz Banking Infrastructure With nCino

Cloud banking technology provider nCino will help U.K. financial institution Santander digitize its small business, corporate and commercial banking units, according to a press release on Thursday (Sept. 26).

Deploying nCino’s Bank Operating System, Santander U.K. is replacing its existing business banking infrastructure that is currently made up of 13 separate systems. Adopting nCino technology will enable the bank to operate its business services – serving small businesses to large enterprises – on a unified platform, the companies noted.

The infrastructure upgrade will have a particularly large impact on Santander’s business lending operations, with nCino technology able to accelerate both lead cycle and credit decision times. Streamlining the infrastructure will also support compliance, they said.

The overhaul is part of Santander U.K.’s broader digitization initiative to address changing customer demands for modernized, efficient services and products.

“Customer expectations are constantly changing,” Santander U.K. Head of Digital Transformation Jonathan Holman said in a statement, pointing to the “speed, transparency and ease of use” that end users require from their banking services.

Adopting nCino’s Bank Operating System will lead to more efficient client onboarding while enabling the bank to remain agile as customers’ needs continue to change, Holman added.

Another part of Santander’s digitization efforts includes its exploration of 5G mobile network technology. Earlier this year, the bank announced “an experiment with Telefonica to explore potential use cases for superfast 5G networks in banking.”

Meanwhile, nCino struck another collaboration earlier this month with U.K. challenger bank B-North, which will deploy nCino technology for its small business lending and banking operations. The firms are also working with banking-as-a-service firm Mambu, as Mambu and nCino integrate each other’s solutions to operate B-North’s infrastructure.

“This three-way relationship neatly highlights our FinTech-enabled model,” B-North Co-founder and CEO Jonathan Thompson said in a statement at the time. “B-North unlocks real benefits by harnessing the best technologies and combining them with our unique regional origination approach.”