Dutch banking group ABN Amro has turned to cloud banking tech provider nCino and Norway-based software testing provider Commercial Banking Applications (CBA) to implement an ambitious infrastructure upgrade in order to boost the bank’s digital resilience.
nCino said it is working to streamline ABN’s operations and enhance its collateral management capabilities.
The firm’s tech will enable the bank to consolidate “multiple legacy systems into one platform, unifying its end-to-end process for both customers and employees”.
Amsterdam-based Sumitra Moeller, head of financing solutions at ABN Amro, said the bank selected nCino to “offer a digital experience” and to “to be compliant by design”.
Irish professional services giant Accenture helped to support the rollout of the digital solutions at the Dutch bank, Moeller said.
The nCino platform, which is being used by a range of European banks and financial institutions, offers a suite of software solutions including testing and tech portfolio management services.
The Dutch bank adds to a growing list of financial institutions to collaborate with the US-based vendor in 2024, including Canada’s Libro Credit Union, Australia’s Summerland Bank, and SME lender Shawbrook.
Due diligence software
Meanwhile, ABN Amro has started testing and partly implemented due diligence software for trade finance transaction monitoring and compliance provided by Norway’s CBA.
The company’s IBAS Transaction Due Diligence (TDD) offering has been tested and deployed across the bank’s global trade finance operations to monitor transactions and meet all auditing requirements.
CBA, headquartered in Oslo, claims that its offering allows ABN to “immediately detect any unusual behaviour, helping to combat financial crime and ensure full compliance with national and international regulation”.
The implementation of IBAS TDD builds on an existing partnership between CBA and ABN Amro.
In 2023, both companies signed a five-year deal focused on speeding up and improving automation in trade finance operations.
ABN Amro is the third-largest Dutch bank, with headquarters in Amsterdam. Led by CEO Robert Swaak since April 2020, it currently employs around 22,500 people. With a net income of close to €1.9 billion in 2022, its total assets are valued at roughly €385 billion.
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