Supported by nCino, kompasbank Launches as a New Business Bank
Danish financial services market entrant utilising the cloud-based nCino Bank Operating System® to accelerate SME growth
LONDON and COPENHAGEN, Denmark, Aug. 26, 2021 (GLOBE NEWSWIRE) -- (NASDAQ: NCNO), a pioneer in cloud banking and digital transformation solutions for the global financial services industry, today announced that Denmark’s newest business bank, , is operating on the . A data-driven bank with a mission to help fuel the growth of small and medium-sized enterprises (SMEs), the Danish financial institution launched with a cloud-only architecture, providing it with key efficiencies, flexibility and scalability as it works to deliver effortless experiences to clients.
“The nCino platform gives us a unified platform to manage our business clients. We chose nCino because of its configurability and fit into our cloud-only approach to consume business processes, which we expect will give us significant advantages over the incumbent banks operating in Denmark”, said Carsten Smith, COO of kompasbank.
With nCino, from day one kompasbank will be able to deliver the personalised, high-tech, digital banking experience clients have come to expect. Clients and employees will be able to access the platform anytime, anywhere and from any internet-enabled device, increasing engagement and enhancing communication. Through its use of nCino, the bank will be able to provide clients with greater visibility into their loan process, and employees will be armed with streamlined loan origination workflows and insights into the entire client journey, allowing them to place clients’ needs first and focus on strategic initiatives.
“kompasbank’s digital approach positions it to compete with incumbent institutions as clients look to financial organisations that can truly deliver speed and convenience while providing great service and products,” said Jens Treskatis, Area Vice President at nCino GmbH. “kompasbank is leading the charge in demonstrating the business benefits of the cloud, all while putting the SME clients at the forefront of its strategy. We are proud of our role in the bank’s development and look forward to seeing the positive market impact it is bound to make.”
With the continued international expansion, nCino is providing industry-leading expertise to kompasbank as it enters the Danish market as a fully cloud-based financial institution.
About nCino
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: .
About kompasbank
Kompasbank is Denmark’s new fully licensed business bank, providing SMEs the financing required for them to focus on creating growth, jobs and value for the entire society. Personal customers are offered savings accounts with competitive interest rates and thereby, they contribute to ensuring societal growth. kompasbank is dedicated to saving precious time for all of its customers by being a very straightforward, lean and digital bank. For more information, visit:
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