NCino, the leader in cloud banking, today announced that The Woodlands, Texas-based Woodforest National Bank has selected its Bank Operating System to increase the speed and efficiency of loan processes across the board, from small business loans to higher-dollar commercial loans.
The $4.4 billion-asset bank aimed to replace multiple fragmented systems with an alternative that would automate and simplify the entire loan process. With nCino’s Bank Operating System, Woodforest will gain a comprehensive solution that combines the functionality of customer relationship management (CRM), business process management and reporting, all within a single, secure cloud environment. The nCino platform will help Woodforest manage documents and reduce bottlenecks from origination to funding while simultaneously providing an absolute, 360-degree view of individual customer relationships, as well as the full loan portfolio in real time.
“I’ve observed countless operating systems over the course of my career, and each solution either helped back office or front office processes, but never both – until now,” explained Derrick Ragland, president of commercial banking at Woodforest. “nCino has the only platform I’ve found that enhances the front office, back office and everything in between. It is a truly all-encompassing solution that will enable us to better serve our borrowers in a fraction of the time.”
Ragland also noted the visibility to both borrowers and lenders as a significant advantage of the Bank Operating System. With the deep transparency attained into the entire loan process, borrowers will no longer be in the dark about the status of their loans; they will instead be updated in real time about any movement in the loan lifecycle. Woodforest and its customers will also benefit from nCino’s elimination of duplicative data entry, which will ultimately reduce loan turnaround times and improve accuracy.
“Rapidly growing banks such as Woodforest require a scalable solution that will empower, not hinder, its progress,” said Josh Glover, nCino’s senior vice president of community and regional financial institutions. “nCino will serve as that scalable, flexible vehicle that allows Woodforest to continue its swift growth and stellar standard of customer service. Because Woodforest will be running its complete gamut of commercial loans through the nCino platfrom, the financial institution will especially benefit from the enhanced efficiency, total transparency and enterprise mobility that results from our combination of key functions into a single operating environment.”