Making lending human again
How Judo Bank is giving Australia’s small businesses a fairer go.
In Australia, small and medium-sized enterprises (SMEs) struggle to get the finance they need and the service they deserve. These are the local businesses, run by passionate people, supporting local employment. They contribute significantly to the Australian economy through investment, innovation and growth.
This is a huge issue – not just for SMEs and their employees, but for the entire country. For Australia to have a healthy, thriving economy it needs SMEs, and the approximately 66% of the Aussie workforce they employ, to thrive.
One bank is determined to give SMEs a fairer go. Judo Bank is an Australian-based, challenger bank focused on SME business lending. Rather than basing a lending decision on creditworthiness alone, Judo’s relationship bankers get to know a customer personally.
But Judo had outgrown its existing CRM and loan origination systems and needed cutting-edge technology to scale rapidly and provide lending to more of Australia’s SME businesses.
nCino and Accenture have supported the ongoing rapid growth in Judo Bank’s lending capacity. In just nine months, the team built and delivered a powerful solution that enables the bank to continue growing its support of Australian SMEs.
Today, with the nCino solution doing the heavy lifting, Judo’s relationship bankers can spend quality time with more customers, getting to know the person behind the business and offering tailored solutions.
For Judo Bank, it’s a strategy that’s working. While business lending across the industry has been stagnant since March 2020 only growing by 0.5%, Judo Bank has expanded its business lending by over $2.2b or 168%, to be the fourth largest business lender over the period.
For Australia’s SMEs eager to invest, grow and realise their dreams – it’s all good news. With experienced relationship bankers, using deep human relationships reinforced by cutting-edge technology, Judo Bank is here to support the sector – now and in the future.
"We were conscious that Judo might think of us as a big machine. But we listened respectfully and did what we said we’d do. Eventually, we became part of their inner circle – and remain Judo's managed service partner working to achieve their vision."