Participate and nCino partner to offer financial institutions an integrated, automated solution for managing loan participations and syndications.
Participate, the leading, patented loan participation and syndication automation platform, announced a partnership with nCino, a pioneer in cloud banking for the global financial services industry.
The partnership enables nCino to create an integration between Participate and the nCino Platform that digitizes and automates the entire loan participations process.
The integration will give financial institutions (FIs) using the nCino Commercial Banking Solution access to a digital loan marketplace that automatically transfers new or existing loans, streamlines back-office workflow within the participations portfolio, and manages post-sale activities from a single application.
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In today’s liquidity environment, Participate provides a critical tool to keep lenders active, reduce concentration risk and increase fee income, with no new loan operations staff.
Participate eliminates spreadsheets, errors and inadequate core functionality for the originator and the participants. Real-time access ensures all parties have the same current balances, which eliminates reconciliations, charge-offs, adjustments and reputational risk.
Participate automates the process of selling the loan and of managing the process with participants when the loan is sold. Participate is cloud-based and prides itself on being able to take customers live in one day.
The turnkey service includes onboarding existing loan participations, training and supporting all buyers and optional integration to the core system.
“More than ever, financial institutions need to broaden their network of buyers and automate their processes in order to more nimbly adjust the balance sheet,” said Matt Johnner, President and Co-Founder of Participate. “We are thrilled to be working with nCino to provide institutions with an improved process for loan participations and syndications. Liquidity tools like Participate are critical to success in this new era of banking.”
Chris Gufford, General Manager of Commercial Lending at nCino added, “nCino’s partnership with Participate enhances our partner ecosystem and strategically augments the nCino Platform to help institutions gain greater efficiency within their participations portfolio. This partnership brings greater speed, increased liquidity and flexibility to loan trading, ultimately helping our customers better manage risk and reward.”
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