Australian mortgage lender completes digital transformation with robust, end-to-end platform
nCino, Inc., a pioneer in cloud banking and digital transformation solutions for the global financial services industry, announced that RedZed, an Australian mortgage company for the self-employed, is live on the nCino Bank Operating System®. RedZed selected PwC Australia as their delivery partner, who in conjunction with the nCino team in Australia, were able to transform RedZed’s mortgage lending process and go live on nCino’s Mortgage Solution.
With a growing customer base, RedZed sought a solution that would enable them to automate and standardise their residential mortgage origination process to accommodate an increase in demand while continuing to deliver a flexible and personalised customer-first experience. The financial services company selected nCino and its Mortgage Solution – an integrated solution that spans the entire origination lifecycle, from multi-channel application and pre-approvals through underwriting, offers and closing – to increase automation, improve loan volume, and decrease the cost of writing new loans.
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“nCino’s Mortgage Solution exceeded the expectations of everyone in our organisation and will provide our borrowers and lenders with a personalised and integrated experience that is seamless, transparent and simple,” said Stephen Gorman, Chief Credit Risk Officer at RedZed. “With teams from nCino and PwC collaborating across the globe, the implementation process was smooth and efficient. The dependability of both teams led to the phenomenal success of this project.”
The nCino Mortgage Solution provides RedZed with tools to maintain compliance with the National Consumer Credit Protection Act 2009 (NCCP), including Document Manager, form generation, smart checklist, questionnaires, serviceability calculator, and offers and product matrix. These features will help RedZed achieve operational excellence and manage the entire client portfolio with ease, while also connecting RedZed’s front and back-office to enable them to grow more cost effectively and maximize their digital investments.
“nCino is committed to providing a flexible and adaptable platform that enables financial institutions to deliver change at speed,” said Mark Bernhardi, Managing Director of Australia and New Zealand at nCino. “We are proud to partner with RedZed on their digital transformation journey and help them provide a seamless experience for their brokers and customers. Our relationship with RedZed and PwC embodies our mission to transform the financial services industry through innovation, reputation and speed.”
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PwC Australia worked closely with the nCino team, embedding the firm’s BXT – business, eXperience, technology – method to put innovation and experience at the core of the project delivery. By leveraging an agile delivery approach, the project team was able to deploy an end-to-end solution quickly, despite most of the work being completed remotely due to the COVID pandemic.
“This project was successful due to the commitment and initiative shown by all three teams,” added Marvin Slocombe, Engagement Lead at PwC. “Strong relationships, innovation and collaboration allowed us to deliver this project with agility and determination. We are thrilled that RedZed selected PwC to integrate nCino’s Mortgage Solution. We look forward to our continued work together to support RedZed to deliver seamless, personalised services and experience to their customers.”
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