Participate, a spin-out company of Little Rock’s BankLabs, announced a partnership with nCino of Wilmington, North Carolina (NASDAQ: NCNO), a cloud banking company in the financial services industry.
The partnership will enable nCino to create an integration between Participate and the nCino Platform that aims to digitize and automate the loan participations process.
The integration will give financial institutions using the nCino Commercial Banking Solution access to a digital loan marketplace that automatically transfers new or existing loans, streamlines back-office workflow within the participations portfolio and manages post-sale activities from a single application.
Participate automates the process of selling the loan and of managing the process with participants when the loan is sold. The program is cloud-based and its services include onboarding existing loan participations, training and supporting all buyers and optional integration to the core system.
“More than ever, financial institutions need to broaden their network of buyers and automate their processes in order to more nimbly adjust the balance sheet,” Matt Johnner, president and co-founder of Participate, said in a press release. “We are thrilled to be working with nCino to provide institutions with an improved process for loan participations and syndications. Liquidity tools like Participate are critical to success in this new era of banking.”
BankLabs launched Participate in July 2023 as a spinoff company designed to reduce friction in the loan participation process via cloud-native technology and curated buy-side clubs.
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