Biz Builder Mike

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Australian SME Banking Challenger Judo Bank to Use Cloud based Bank Operating System Developed by nCino

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Australia-based SME challenger bank Judo Bank has chosen nCino (NASDAQ: NCNO) to help streamline its lending processes. Judo Bank will be using nCino’s Cloud-powered platform to enhance its services which are mainly intended for small businesses.

nCino, Inc. is an established cloud banking and digital transformation solutions provider for the financial services sector. nCino’s Banking Operating System will be used by Judo Bank to improve its lending operations.

Judo Bank will be working cooperatively with nCino so that the digital challenger can automate key aspects of its banking processes.

As mentioned in a release:

“As part of the nCino Bank Operating System, Judo will implement nCino’s Commercial Banking Solution, which automates workflows and provides real-time reporting, elements of the credit analysis process and digital document management capabilities to drive a transparent and fully digital end-to-end lending process.”

Tim Alexander, Chief Product Officer at Judo Bank, said that Judo’s goal is to help Australian SMEs by “bringing back the craft of relationship banking and delivering the funding that SMEs desperately need and deserve.”

Alexander added that his company shares some of the same views as nCino which is why they chose them “to help disrupt the industry and deliver differentiated services to better finance the growth ambitions of Australian SMEs.”

Mark Bernhardi, General Manager of APAC at nCino, noted that his company is looking forward to working with Judo Bank. They’ll be helping the digital challenger with “creating a more efficient banking experience that is tailored to [its] clients’ individual needs,” Bernhardi said.

He added:

“Judo was created to be fast and nimble and to provide new options to SMEs across Australia. We look forward to building upon our partnership to support Judo’s craft of relationship banking, enabling them with the latest technology from nCino as they help their clients capitalise on the right opportunities at the right time.”

In May 2020, Judo Bank had managed to secure $250 million through an equity round and also achieved Unicorn status (companies valued at $1 billion or more).

nCino is a Wilmington, North Carolina-based Fintech that offers a cloud banking platform built on the Salesforce platform. It launched its initial public offering (IPO) in July 2020. The firm’s shares had rocketed on the NASDAQ as soon as trading began earlier this year.

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German Fintech Finoa to Provide Custody For Oasis Network’s ROSE Token at Mainnet Launch

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Finoa, a Germany-based fintech, announced on Tuesday it is teaming up with Oasis Network to provide custody for the network’s ROSE toke at mainnet launch. According to Finoa, ROSE is designed to give users financial sovereignty and control of their data and is expected to play a critical role in how various ecosystem partners interact with each other and how data is permission for usage or storage the network.

Finoa also reported that in addition to custody, ROSE token holders will also be able to stake their allocations directly from the Finoa secure infrastructure, providing a unique opportunity for token holders to contribute to the network in a seamless, safe and secure way. Speaking about the partnership, Finoa Co-Founder and Co-CEO, Christopher May, revealed:

“We have been working closely with the Oasis team over the last months and are thrilled to support the network by providing custody and staking support for ROSE. We have been very impressed by the team, company vision, and the unique design of the Oasis Network. Its privacy first approach will be key to the further advancement of a responsible data economy and we are looking forward to actively participating in the growth of the network.”

Jernej Kos, Director of the Oasis Foundation, concluded:

“With our partnership, we’re giving token holders a secure and regulatory compliant solution to safeguard their tokens and support the further international growth of the network.”

Founded in 2018, Finoa stated it is dedicated to helping its clients to manage their digital assets. Its mission is also to help institutional investors “unlock the full potential” of this new asset class by using its distinctive expertise and technology.

“Finoa developed the world’s first fully digital (warm-storage) custody and asset-servicing solution built on a crypto-native banking infrastructure combining maximum user-friendliness with the highest military-grade security levels available in the market.”

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Payments Platform Nium Teams Up with Neobank Aspire to Enable Google Pay

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Singapore-based payments platform Nium has partnered with Aspire, a neobank for businesses, in order to enable payments with Google Pay.

Aspire claims that it’s the first business neobank to launch in Southeast Asia. The company announced its plans to go “plastic-less” by issuing corporate Visa cards with assistance from Fintech service provider, Nium. The partnership will make all Aspire cards available through Google Pay.

Andrea Baronchelli, CEO and Co-Founder at Aspire, stated:

“Making Aspire’s corporate cards available on Google Pay allows Aspire corporate card users to experience a fully digital experience. From account opening to managing the finances, everything can be done within the Aspire app.”

He added:

“Business owners can set custom limits on expenses without having to worry about manual expense reconciliation.”

Nium’s end-to-end issuing, processing and onboarding will allow Aspire’s customers to have more options for taking care of their payments via Google Pay on Visa-accepted terminals. Business owners are now able to “go green” by making digital payments on point-of-sale (POS) devices and through the online portal without needing a physical card.

Aspire’s services are mainly intended for entrepreneurs who launch businesses. They aim to provide the “fastest and simplest business banking experience to SMEs.” The company’s virtual corporate card complements the Aspire Business Account, which is linked up with various back-end accounting systems.

Gitesh Athvale, Global Head of Product (Cards) at Nium, stated:

“We’re pleased to be working with Aspire to ease the Spend Management process for businesses in Southeast Asia. Through the issuance of virtual cards and the integration with Google Pay via our payments network, companies can now track their expenses more easily and directly using their Android devices.”

Last month, Nium’s management revealed that customers will be able to make digital payments through Google Pay by using its company Visa cards.

Athavale had noted in August 2020:

“The integration of Google Pay within our card issuance network allows us to increase the acceptance points for our end users, allowing them to make payments and also track their expenses more easily and directly using their Android devices.”

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