JOHANNESBURG, South Africa, April 18, 2023 (GLOBE NEWSWIRE) — nCino, Inc. (NASDAQ: NCNO), a pioneer in cloud banking for the global financial services industry, today announced that TUHF has selected nCino’s cloud banking platform to improve the lending process for its customers and support the entire credit lifecycle journey across its commercial loan book. By partnering with nCino, TUHF will modernize its operations to achieve key business goals including increasing efficiency, driving growth, and reducing costs.
South Africa faces significant shortages in affordable, safe housing and huge urban sprawl. TUHF, as the leading impact investor in affordable housing in the country, makes a positive social impact by providing commercial property development loans to clients seeking to deliver affordable residential units where they are most needed in city townships. By utilizing nCino’s cloud banking platform, TUHF will be able to accelerate its lending processes and scale its business efficiently, to effectively increase its ability to drive urban densification and combat urban sprawl.
“TUHF’s goal is good business, and to do good by empowering entrepreneurs to transform the cities and townships of South Africa. We are confident that the nCino solution will provide the flexibility and scalability we need to achieve our growth ambitions,” said Paul Jackson, CEO at TUHF. “We anticipate that the partnership with nCino will drive significant value for our clients while enabling us to stay aligned to our core values.”
TUHF sought an end-to-end technology partner that would provide cloud-native journeys for its clients and employees, helping to consolidate and streamline the lending process. nCino provides transparency and 360 customer view, offering a single source of truth across all stages of the lending journey, including loan origination, underwriting, credit sanctioning, disbursement, and in-life-cycle management.
“We’re excited to equip TUHF with the technology it needs to make a greater impact on the communities it serves,” said Kate Jane Johnsen, Regional Vice President at nCino. “As an agile solution, we trust that the nCino platform will deliver value to TUHF for many years to come, empowering the institution to improve its competitive advantage and continue making human connections with their clients who seek to make positive social impacts across South Africa.”
nCino (NASDAQ: NCNO) is the worldwide leader in cloud banking. Built by bankers for bankers, the nCino cloud banking platform is a single, multi-tenant software-as-a-service (SaaS) solution that helps financial institutions modernize, innovate and outperform. A pioneer in the global financial services industry, nCino is a proven partner that has helped more than 1,850 financial institutions of all sizes and complexities, including global CIBs; enterprise, regional and community banks; credit unions; new market entrants; and independent mortgage banks power distinctive experiences, drive growth efficiencies, and run with full integrity. For more information, visit www.ncino.com.
TUHF Limited is a commercial property financier that provides specialised financial services and solutions to its clients in affordable rental housing in the large metropolitans across South Africa, based on the Group’s in-depth market knowledge and targeted business model.
Through its inclusive growth and transformation objectives, TUHF’s financial services and solutions are purposely designed to finance in-city and township property entrepreneurs, who understand these markets and have a strong appetite to grow their property portfolios, generate wealth, and contribute to urban densification and regeneration. To date, TUHF has financed over R7 billion in affordable residential rental property – 46 374 units financed by TUHF from inception to 2023 – and has supported hundreds of successful property entrepreneurs in reaching their dreams of running sustainable residential rental businesses. www.tuhf.co.za
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