Supported by nCino, kompasbank Launches as a New Business Bank
- Banking , Cloud
- 26.08.2021 09:05 am
Danish financial services market entrant utilising the cloud-based nCino Bank Operating System® to accelerate SME growth
nCino, Inc. pioneer in cloud banking and digital transformation solutions for the global financial services industry, today announced that Denmark’s newest business bank, kompasbank, is operating on the nCino Bank Operating System. 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.