Recognise Implements nCino to Provide Agility and Flexibility to Its Clients and Team

LONDON, Feb. 10, 2021 (GLOBE NEWSWIRE) -- , Inc. (NASDAQ: NCNO), a pioneer in cloud banking and digital transformation solutions for the global financial services industry, today announced the go-live of the with new SME banking entrant, , following the granting of its banking license in November 2020.

SMEs in the UK supply in the private sector and therefore have a significant impact on the economy, including playing an important role in the UK’s financial bounce-back from the COVID pandemic. Recognise understands that the SME market does not have a “one size fits all” approach. With nCino, Recognise has a nimble, scalable platform to manage clients’ specific needs and enable the bank’s employees to provide more effective customer service regardless of where they are working, all of which has been particularly vital during the pandemic when SME support is of paramount importance.

Built by bankers for bankers, nCino has helped Recognise quickly become operational by providing simple and streamlined SME banking processes. nCino’s intuitive workflow mirrors the loan journey, allowing applications – from enquiry or referral through to the loan drawdown – to be rapidly processed on a single, end-to-end platform. The cloud-based technology also helps financial institutions meet various compliance obligations while providing valuable, timesaving automation in lieu of tedious, manual tasks. With nCino, Recognise is resolving numerous pain points that are faced by SMEs and are common in day-to-day banking operations. Recognise also has the ability to further enhance and leverage the platform as the bank grows.

Jason Oakley, CEO at Recognise, said, “We exist to realise the extraordinary potential of UK SMEs, the undisputed backbone of our economy. We recognise their needs, challenges and frustrations, and by addressing them head on we’re driving prosperity, one ambitious business at a time. We do this by having a model that is led by strong relationship management, enabled by cutting edge technology. Our goal is for 80% of our employees’ time to be spent in front of clients rather than on transactional work. By working with nCino and implementing its platform, we have already seen, even at this early stage, how technology plays a valuable part in enabling a strong and effective client experience, which is why we will shortly launch our broker and customer portals to further enhance the experience for our key relationships.”

“The ease of configuration of nCino is already being evidenced as we learn from our early lending activity, and there is no need to wait months to implement enhancements, enabling us to become a SME signature bank in the UK,” added Monica Velasquez-Torres, Chief Technology Officer at Recognise. “New employees have quickly achieved the required competence through our training and testing methodologies by making use of our 'test & play' environment, which is a testament to the ease of navigation and intuitive nature of the nCino Bank Operating System. We’re really excited to be on this journey with nCino and for the future of SME lending in the UK as our services and technology bring a markedly different approach to this underserved market.”

“We’re thrilled to see the impact Recognise is already having on the SME sector now that they are actively lending and building client relationships,” said Charlie McIver, Vice President of Customer Success – EMEA, at nCino. “I’m extremely proud of how the nCino platform is helping Recognise provide a truly innovative service to its SME clients as well as the strong partnership our two companies have formed through the implementation process. Recognise has a thoughtful and ambitious team, dedicated to their mission, and we believe this is just the start of an amazing collaboration.”

About Recognise Bank Limited

Recognise Bank Limited (‘Recognise’) was formed to provide financial services to the UK Small and Medium Enterprises sector and the retail and business savings markets. It will target an underserved but growing SME segment, offering a relationship-led, digitally enabled proposition.

The bank's efficient technology-driven operating base, partners with leading fintech platforms to create a market leading SME service using the best-in-class technology. Recognise has a strong independent Board and an executive team with over 280 years' experience in the banking industry. In five years’ time it aims to reach 54,000 depositors and 5,100 borrowers. Recognise is a subsidiary of the City of London Group.

Click for further information on Recognise. Follow us on LinkedIn by clicking

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: .

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. 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 or the SEC's web site at ). 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.