Libro Credit Union in Canada is to transition its multiple legacy systems and lending operations onto nCino’s cloud banking platform.
The partnership will provide Libro – one of the largest credit unions in Ontario with 117,000 “owners”, 800 staff and 34 branches across the province – with “an integrated system that acts as a single source of truth and delivers transparency across the loan process”.
Alongside its loan origination function, the Software-as-a-Service (SaaS) platform also supports features for customer onboarding and deposit account opening and delivers AI and machine learning-powered insights through its nIQ function, which was added to the suite in 2019.
For Carol Normandeau, EVP of advice and service at Libro, the partnership is part of an effort to cultivate financial resilience across all sides of its operations, an effort she claims has taken “a significant step forward” through the consolidation of “multiple systems to nCino’s single platform”.
The US-based vendor claims Libro’s integration will “empower its employees through data, achieve faster time to value and create a smoother experience for customers”, following its recent deals with Summerland Bank in Australia, and Alba Bank and property lender Together in the UK, among others.