nCino Stock – Sunrise Credit Union Adopts nCino Platform to Provide a
TORONTO and BRANDON, Manitoba, May 26, 2021 (GLOBE NEWSWIRE) — nCino, Inc. (NASDAQ: NCNO), a pioneer in cloud banking and digital transformation solutions for the global financial services industry, today announced that Manitoba’s Sunrise Credit Union is live on the nCino Bank Operating System®. Sunrise will now be able to offer a user-friendly, digital on-line and in-branch Deposit Account Opening experience members today expect through the nCino platform. The nCino platform will be able to significantly reduce the time required to open new memberships and new accounts, allowing Sunrise employees the ability to spend an increased amount of personal time with their members to understand their financial needs and provide a first-class customer experience.
In addition to utilizing nCino’s Deposit Account Opening solution, Sunrise has also purchased nCino’s Commercial Banking, Retail Banking and Residential Mortgage solutions which it plans to roll-out in phases to help further automate tasks to drive organizational efficiency, scalability and speed.
“We conducted an extensive review of potential partners and selected nCino because they not only offered a solution that could provide our members the very best experience, but their corporate values align closely to those of Sunrise,” said Tim Klassen, President & CEO at Sunrise Credit Union. “The pandemic has required us to find new ways to meet our members’ needs including moving many business activities online. The introduction of nCino will enable us to provide more self-service and electronic communication options to our members, which was the most pressing issue for us to solve.”
With approximately 34,000 members, Sunrise Credit Union’s goal is to provide personalized financial services to benefit its members and communities. Sunrise recognized the need to continue to innovate and improve in order to meet the changing needs of its members and nCino is a key component to achieving these goals. The nCino Bank Operating System digitizes, automates and streamlines complex processes and workflow through a single-digital platform that can be accessed anytime, anywhere and from any internet-enabled device. Through the nCino platform, Sunrise has been able to substantially reduce the time it takes to open deposit accounts and member onboarding time has been reduced by about half.
“Digital transformation should be done with a focus on meeting the needs of each and every member while also enhancing operational efficiency,” said Cam Sterrett, nCino’s General Manager, Canada. “Sunrise understood the need to enhance their processes to enable them to streamline their current offerings, freeing up employee time to focus on meeting the needs of their members. We’re thrilled to be able to continue carving our footprint throughout Canada and partner with institutions as innovative as Sunrise.”
nCino (NASDAQ: NCNO) is the worldwide leader in cloud banking. The nCino Bank Operating System® empowers financial institutions with scalable technology to help them achieve revenue growth, greater efficiency, cost savings and regulatory compliance. In a digital-first world, nCino’s single digital platform enhances the employee and client experience to enable financial institutions to more effectively onboard new clients, make loans and manage the entire loan life cycle, and open deposit and other accounts across lines of business and channels. Transforming how financial institutions operate through innovation, reputation and speed, nCino works with more than 1,200 financial institutions globally, whose assets range in size from $30 million to more than $2 trillion. For more information, visit: www.ncino.com.
About Sunrise Credit Union
Sunrise Credit Union formed in 2008 and now offers personalized service from 20 branches located in Baldur, Boissevain, Brandon, Cypress River, Deloraine, Grandview, Hartney, Holland, Laurier, Melita, Minnedosa, Oakburn, Reston, Sandy Lake, Shoal Lake, Ste. Rose du lac, Strathclair, Treherne, Virden, and Waskada. Sunrise Credit Union has approximately 34,000 members and about 240 employees.
This press release contains forward-looking statements within the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally include actions, events, results, strategies and expectations and are often identifiable by use of the words “believes,” “expects,” “intends,” “anticipates,” “plans,” “seeks,” “estimates,” “projects,” “may,” “will,” “could,” “might,” or “continues” or similar expressions. Any forward-looking statements contained in this press release are based upon nCino’s historical performance and its current plans, estimates, and expectations, and are not a representation that such plans, estimates, or expectations will be achieved. These forward-looking statements represent nCino’s expectations as of the date of this press release. Subsequent events may cause these expectations to change and, except as may be required by law, nCino does not undertake any obligation to update or revise these forward-looking statements. These forward-looking statements are subject to known and unknown risks and uncertainties that may cause actual results to differ materially including, among others, risks and uncertainties relating to the market adoption of our solution and privacy and data security matters. Additional risks and uncertainties that could affect nCino’s business and financial results are included in reports filed by nCino with the U.S. Securities and Exchange Commission (available on our web site at www.ncino.com or the SEC’s web site at www.sec.gov). Further information on potential risks that could affect actual results will be included in other filings nCino makes with the SEC from time to time.