SME Challenger Bank GBB Goes Live on nCino Cloud Platform

The bank specialises in property development finance and expects to be ready to trade this year.

GBB, a North East-based challenger bank specialising in property development finance, has gone live on the nCino Bank Operating System ahead of its trading launch.

The bank is targeting SME property developers and will offer access to funding. GBB has been working on gaining its banking licence and plans to conduct loan processing through nCino’s commercial banking platform. These loans are intended to bring financial support to GBB’s clients and would cover SME secured, residential development, commercial development and development exit finance.

nCino’s cloud-based platform will be used to maintain compliance with regulatory requirements and speed up its workflow processes.

Steve Lancaster, Chief Information Officer at GBB, says: “nCino’s cloud-based lending platform is the foundation of our technology ecosystem and intuitive to our needs, allowing us to customise workflow and drive efficiency.”

GBB’s website explains its focus: “The UK isn’t building enough houses and the government remains committed to addressing this. SME property developers, in both the commercial and residential sectors, simply aren’t getting the finance or relationship support they desperately need. We’re going to change all that, with a unique focus on financing property development for SMEs.”

It will have “no legacy systems” and “no costly branch network”. It has applied to the Prudential Regulation Authority for a licence to trade as a bank, and expects to be ready to trade in 2021.

According to LinkedIn, GBB is based in Middlesbrough, while on Twitter it says Newcastle.

Late last month, GBB turned to SaaS cloud banking platform Mambu to help power its digital offerings for clients.

GBB is just one of many challenger banks currently existing in the UK financial market. Recent examples include SME digital banking startup mibanc planning a 2021 launch and Starling’s BaaS-ic ambitions in the EU.

North Carolina-based nCino works with regional banks and specialty lenders. The fintech firm currently has clients in the US, Europe, Canada, Australia and New Zealand. Customers in London include OakNorth, Recognise, ThinCats, Barclays Bank and Santander.

Additionally, nCino provides services for other UK companies such as Project B-North in Manchester, Yorkshire Building Society in Bradford and Secure Trust Bank in Solihull.

nCino works with more than 1,200 financial institutions globally.

Madeline Clarke
Madeline Clarke is a freelance writer specialising in copywriting and content creation. After studying Art and earning her BFA in Creative Writing at Salisbury University (Maryland) she applied her knowledge of writing and design to develop creative and influential copy. She has since formed her own business, Clarke Content, LLC.

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