Nomura Trust & Banking Co. has chosen nCino to move its operations to the cloud. 

The Japanese trust bank aims to remove inefficient operations, ensure data security, and integrate and centralize its data by modernizing and moving its operations to the cloud, according to nCino’s Sept. 12 release. 

The $3.3 billion Nomura Trust chose nCino for its end-to-end loan approval and flexible cloud-based implementation technology, the release stated.

“Our solutions streamline processes and eliminate inefficiencies in the banking technology stack, supporting cost savings and paving the way for a more dynamic and productive banking experience,” Davis Brannan, executive vice president of strategic growth at nCino, told Bank Automation News.  

Inefficient legacy systems are draining many banks’ technology budgets, Brannan said. Joining forces with nCino will help Nomura by enabling “savings through improved loan balance, enhanced operational synergy and [by] ushering in a new era of digital banking for the institution,” he said. 

More than 1,850 financial institutions worldwide, including Wells Fargo, Bank of New Zealand, and Kiraboshi Bank, are using nCino’s cloud-based solution to address infrastructure challenges and accelerate growth opportunities, Brannan said.  

Commencement Bank taps Allied Payment Network to upgrade payment channels 

Commencement Bank has selected Allied Payment Network to provide real-time payments options to its customers, according to a Sept. 7 release from the technology company.  

The $580 million, Tacoma, Wash.-based bank will integrate a suite of digital payment channels, provided by Allied, into its core, Jeff Harper is the Chief Revenue Officer for Allied Payment Network told BAN. 

“With increased economic pressure from inflation, rate hikes and decreased deposits, financial institutions are looking at ways to recoup lost revenue,” Harper said. “Many FIs are looking to employ a real-time solution as a way of attracting, retaining and growing the value of the relationships they have.” 

With nearly 7,000 customers in Washington state, the bank signed on with Allied to remain competitive, Tricia Ott, SVP of operations and digital services for Commencement Bank told BAN. 

Allied is evaluating FedNow and other rails, aiming to enhance its existing real-time payment solution, the Allied spokesperson said. 

First Internet Bank taps jaris to extend financing options 

First Internet Bank is teaming up with jaris, an embedded finance company, to provide financing options to businesses, according to the bank’s Sept. 12 release.  

The two entities have announced a combined $1 billion in funding capacity to enhance revenue-generating services, the release stated.  

“This partnership embodies our charge to increase access to capital for business owners,” David Becker, chairman and chief executive of First Internet Bank, said in the release. “Jaris shares our commitment to innovation and oversight to maintain the highest compliance and credit quality standards.” 

In June, First Internet Bank selected digital banking solution provider Narmi to help clients open business accounts digitally. Teaming with Narmi helped the $4.5 billion bank cut the time needed to open a business account by 65%, Craig Fortner, chief information officer at First Internet Bank, told BAN in August. 

Owners Bank selects Primax for credit card processing 

Owners Bank, a division of $7 billion Liberty Bank tasked with serving the financial needs of small business owners, is working with Primax, a payment processing service company, to provide credit card processing services to its customers. 

The bank was looking to a tech provider that would help it “embark on our digital expansion journey,” David Mitchell, founder and CEO of Owners Bank, said in Primax’s Sept. 26 release. 

The Middletown, Conn.-based digital bank offers “high-tech, high-touch” capabilities to small-business clients — which are now further enhanced through Primax, according to the release. 

Liberty Bank has more than 55 offices across the country and teamed with digital banking provider Alkami in April to overhaul its digital banking operations.  

Visit Bank Automation News’ Transactions Database, which lists the technology selected or acquired by companies in the financial services industry, with a specific focus on technology that enhances automation.