US-based banking technology firm nCino, listed on Nasdaq, has announced that Raiffeisenbankengruppe Oesterreich has chosen nCino as its unified corporate lending platform.

The implementation will cover the entire corporate lending process—from initial application to final disbursement—encompassing current account credit, term loans, and limits for contingent business across the group’s tiered cooperative banking network.

Raiffeisenbankengruppe Oesterreich comprises eight regional Raiffeisenlandesbanken acting as central financing institutions for around 270 local Raiffeisenbanken in Austria. This cooperative structure, with member-owned local banks served by regional central institutions, exemplifies one of Europe’s most intricate forms of cooperative banking and has been operating in Austrian communities for over a century.

Expertise in Cooperative Banking and DACH Expansion

nCino highlights its experience working with credit unions in the US, institutions following a similar member-owned model, as directly transferable to the Raiffeisen network’s structure and needs. This partnership marks a significant milestone for nCino in the DACH region and showcases its specialized capabilities within cooperative banking.

Reinhard Schwendtbauer, Chairman of the Raiffeisen Kooperationsgenossenschaft, remarked that nCino provides the group with a modern platform to uphold the trust of its customers. He noted that it is designed specifically for how the cooperative network operates.

Joaquín de Valenzuela, Managing Director of EMEA at nCino, emphasized that this partnership demonstrates what can be achieved when a traditional cooperative banking institution decides to modernize on a large scale. He highlighted the combination of Raiffeisen’s century-old community banking expertise with nCino’s platform and cooperative banking experience.