The recent announcement by Santander to partner with nCino to support its business banking activities comes as no great surprise. Although nCino claims its platform offers benefits across the entire commercial banking model, it is the improvements in loan origination — a reduction of 40% in the time taken for loan decisions — that’s driving Santander’s initial implementation activities.
When you are figuring out what the future of KYC looks like, you first have to understand its current scope and what it looks like today.
Startups are a lot like teenagers. Remember when you were a teenager and your parents said something like "You'll understand when you get older," and how frustrating that could be? And then, years later you do understand and realise they were right? This is precisely how it is for startups; they are still learning how to do everything. This post is about one of those things teenagers (or should I say startups) don't understand yet. And they should!