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QUEBEC CITY – Desjardins Group, North America's largest cooperative financial group, will adopt an automated spread solution from nCino, Inc. (NASDAQ: NCNO) to streamline its loan underwriting process. The move, announced today, is aimed at increasing efficiency and improving the quality of credit decisions.
Desjardins has already implemented nCino's small business and commercial banking solutions in 2022, significantly speeding up the loan origination process and reducing unnecessary wait times for members and customers.
The new auto-diffusion solution, powered by nCino IQ (nIQ), employs machine learning to enhance financial statement data capture and facilitate processing of multilingual documents to meet the diverse needs of Desjardins customers.
Jean-Yves Bourgeois, Executive Vice President of Business Services at Desjardins, highlighted the cooperative's commitment to minimizing delays and enhancing its digital services. “nCino's adoption solutions allow us to remain a leader and continue to provide a seamless user experience for our members and clients,” Bourgeois said.
nCino's vice president of Canadian sales, Greg Wipke, expressed pride in the strengthening of the partnership and the expected benefits for Desjardins' operational efficiencies and customer experience.
nCino is a recognized world leader in cloud banking, partnering with more than 1,800 financial service providers worldwide. The company's SaaS platform is designed to modernize financial institutions' operations and enhance customer onboarding, loan management, and account opening processes.
With total assets of $422.9 billion as of December 31, 2023, Desjardins Group is a prominent financial institution in North America and internationally, ranking as the fifth largest cooperative financial group in the world. We are known for our high capital ratios and credit ratings, and have been named one of Canada's Best Employers.
This development is based on a press release statement and reflects the continued trend of financial institutions leveraging technology to improve operational efficiency and customer service.
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