#Japan #Tokyo #Banking #PwC #nCino

Strategic Partnership for Financial Innovation

In an effort to revolutionize the efficiency of financial institutions and enhance customer experience, nCino Inc. and PwC Consulting have announced a strengthened partnership. This collaboration aims to elevate the lending domain within banks by utilizing nCino's integrated banking platform. Together, they plan to optimize the entire process, from loan applications to approval, execution, and post-monitoring.

The Need for Transformation

With the increasing regulatory demands, market changes, and diverse customer behaviors, financial institutions face urgent needs to streamline their lending processes. This transformation entails speeding up the time frame from loan applications to funding, moving away from paper-based operations, and breaking down data silos. There is also a high demand for faster, clearer decision-making processes.

Focus on Front-End Strategy

To support the front-end strategy of financial institutions, nCino and PwC Consulting are dedicated to driving innovation across the lending business. Their efforts aim to enhance the overall value of financial services and strengthen competitiveness in an ever-evolving marketplace. The nCino integrated banking platform merges functionalities like loan origination, account setup, customer management, and data analysis into a single framework, helping financial institutions to boost revenue, streamline operations, cut costs, and mitigate risks.

Local Expertise Meets Global Experience

Combining PwC’s deep knowledge of the unique lending operations in the Japanese market with its extensive experience in nCino implementations worldwide, the consultancy is well-equipped to assist financial institutions in responding quickly and sustainably to market changes. Additionally, they offer support for maintaining nCino systems, enabling financial institutions to independently implement changes in lending products and screen modifications.

Anticipated Benefits from nCino Implementation

The collaboration highlights several expected benefits from implementing the nCino platform, including:

• - Efficiency in Credit Approval Processes: Streamlining workflows leads to more productive outcomes.
• - Expanded Revenue Opportunities: New functionalities can tap into untapped markets.
• - Significant Reduction in Administrative Time: Integration and optimization can result in long-term cost savings.
• - Improved Compliance and Transparency: Enhanced processes foster better regulatory alignment and accountability.

Collaborative Efforts Ahead

Both nCino and PwC Consulting are committed to holding regular discussions to share insights and will engage in joint marketing efforts to further strengthen their partnership as they pursue business growth together.

Leadership Commentary

Ikki Nomura, President of nCino Japan, expressed his enthusiasm about the collaboration with PwC Consulting. He noted that Japanese financial institutions stand at a crucial point where they must address rapidly changing customer needs while simultaneously improving employee satisfaction. Transitioning from previously optimized individual systems to a flexible, scalable integrated platform is essential.

In his remarks, Nomura emphasized that with PwC Consulting's wealth of expertise in the Japanese banking market and its extensive nCino implementation experience globally, this partnership will significantly contribute to accelerating business transformation for Japanese financial institutions.

Kenji Hiruma, Partner at PwC Consulting, added that the financial sector faces rapid changes due to diverse customer needs, digital evolution, and complex regulatory environments. To navigate these shifts effectively requires digital transformation and the adoption of advanced platforms. By strengthening collaboration with nCino, they aim to enhance transparency, efficiency, and flexibility within financial institutions.

About PwC Consulting

PwC Consulting, a member of the PwC global network, provides comprehensive consulting services from strategic development to execution. They tackle complex management issues faced by clients and help them compete in the global market effectively.

For more information, visit PwC Consulting.

About nCino

nCino (NASDAQ: NCNO) is a global leader in cloud banking solutions. The nCino integrated banking platform provides banks with the tools necessary for revenue growth, operational efficiency, cost reduction, and risk mitigation. Transforming traditional siloed systems, nCino enables banks to visualize and automate the entire loan process, simultaneously enhancing employee productivity and customer experience. Over 2,700 financial institutions worldwide utilize nCino for digital transformation.

Explore more at nCino.