FullCircl and nCino Partnership Provides Data-Driven Experiences to SME Lenders

LONDON, Oct. 4, 2023 /PRNewswire/ -- FullCircl, the Customer Lifecycle Intelligence (CLI) platform that helps financial institutions (FIs) do better business faster, has announced a partnership with nCino, a pioneer in cloud banking.  The partnership brings together FullCircl's advanced data capabilities with nCino's best-in class cloud banking platform via API to provide a fast, seamless, and data-driven experience for FIs seeking to improve the speed, efficiency, and profitability with which they acquire, onboard, and serve SME customers.

Meeting the finance needs of SMEs remains a major challenge for FIs. The sector currently has unmet needs of approximately $5.2 trillion, 1.5 times the current lending market*. One in three SME's identify a need for external finance, and yet only 45% feel confident they can secure this from their banking partner*.  With SMEs accounting for 99.9% of the UK business population**, the opportunity for FIs that can respond quickly is huge. The partnership between FullCircl and nCino presents FIs with a proposition that can help:

• Optimise time to funding - cut onboarding times from weeks to minutes
• Reduce risk - spot issues and act on opportunities faster
• Minimise cost - remove friction and enhance the operational efficiency of credit practices 
• Accelerate revenue growth ? serve SMEs successfully and cost-effectively at scale
• Win and retain more SME customers - deliver more commercially-beneficial outcomes

Stuart Boardman, Director of Channels and Revenue Partnerships at FullCircl commented: "Unmet needs are opportunities for new value creation. This partnership tackles head on the challenges financial institutions face in serving SME customers so that they can transform the lending experience and realise the vital value stream SME's represent. "

Tom Byrne, GM of Commercial and Mortgage EMEA at nCino commented: "We're excited about our partnership with FullCircl, which  gives financial institutions the flexibility and scalability they need to meet the unique needs of small businesses at every moment of their customer lifecycle. This partnership is intended to help ensure lenders have the data to fully understand their customers and provide them with the right information at the right time in their journey."

NOTES TO THE EDITORS:

* McKinsey & Company May 2022
** GOV.UK October 2022

For more information please contact:
Kelly Prior, PR Consultant
Tel: 07730 572878
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About FullCircl:

FullCircl is a Customer Lifecycle Intelligence (CLI) platform that helps companies in regulated industries do better business, faster. Industry specific solutions address critical business challenges, enabling clients to efficiently win the right customers, rapidly assess risk to accelerate onboarding, and keep them for a lifetime by anticipating needs and delivering proactive account management. Through its applications, proprietary 'graph' technology, intelligent rules-based decision engine, and powerful APIs, FullCircl identifies millions of actionable insights daily on entities from 160 countries, providing a near real-time record of companies, their officers and shareholders, and the relationships between them. FullCircl improves commercial effectiveness while empowering businesses to satisfy regulatory requirements and make informed decisions about their customers.

FullCircl was formed following the merger of Artesian Solutions and DueDil and is backed by top tier investors including Octopus Investments, Notion Capital and Augmentum Fintech. In 2023, FullCircl acquired W2 Global Data Solutions, strengthening its KYC, AML and identity verification capabilities. Today, it serves 700+ customers, 15,000+ users, processes over 300 million onboarding and monitoring transactions per month and facilitates the onboarding of 200,000+ customers annually.

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