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Alterna Bank Partners with nCino To Transform the Small Business Customer Experience

August 15, 2019 (Ottawa, ON) - Alterna Bank clients will soon benefit from a fully digital Small Business Banking Solution with a seamless account opening experience that they could do anytime, anywhere, in minutes. Alterna Bank is pleased to partner with nCino, a transformative digital solution that breaks down barriers, offering a single platform that supports business owners with deposit account opening, onboarding, digital application, automated decisioning, digital document management and portfolio management.

“At Alterna Bank, we’re dedicated to finding the best solutions for our valued small business clients. We know that small business owners are extremely busy and we took on the challenge to create a faster and easier banking experience for them,” says Rob Paterson, President and CEO of Alterna. “As a leader in innovation, we’re pleased to partner with another innovative leader – nCino, who will play a key role in our delivery of a seamless digital experience that is available 24/7 at our clients’ fingertips.”

nCino was founded in 2012 by a team of bankers and entrepreneurs who set out to make the commercial lending process easy and efficient. The team created a Bank Operating System that improves employee efficiency while enhancing the client experience for onboarding, loans and deposits across all lines of business. nCino started in Wilmington, North Carolina, and today works with more than 1,100 financial institutions globally, including 12 of the top 25 financial institutions in North America.

Alterna Savings – Alterna Bank’s parent company – is the first credit union in Canada to partner with nCino. This new partnership and the benefits it brings complement the innovative products and services that Alterna Bank offers, including Canada’s first fully digital end-to-end mortgage experience.

“We’re delighted to be chosen by Alterna, one of the most innovative financial institutions in Canada, to create a hassle-free account opening experience,” says nCino CEO Pierre Naudé. “nCino is built by bankers for bankers to transform the relationship they have with their clients, and we are confident that Alterna’s customers will benefit greatly from the streamlined process and easy solutions.”

Alterna Bank is proud to be a champion of small businesses and their impact to their communities. While the partnership with nCino will transform the onboarding experience, Alterna Bank is also working on a comprehensive plan to enhance the client’s entire journey. This includes new platforms for loan referral and merchant services, as well as a new partnership with Global Payments, the largest acquirer in Canada. Alterna Bank’s new digital Small Business Banking Solution will allow small business owners to complete their primary banking needs digitally; it will launch by the end of 2019.

About Alterna Bank:

Alterna Savings and Credit Union Limited (Alterna) has been the Good in Banking for 111 years! Alterna is made up of Alterna Savings and its wholly-owned subsidiary, Alterna Bank. Together, it has $8 billion in assets under management.

Members and customers benefit from industry leading online brokerage and investment management services and have access to the largest surcharge-free ATM network in Canada. Alterna Bank is one of the most innovative banks in Canada and the first to offer all Canadians an end-to-end digital mortgage experience. Customers also get fully-digital financial services that include our highly competitive and award winning high-interest eChequing, eSavings, RRSP and TFSA products, available online and through mobile banking. For more information please visit www.alternabank.ca.

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