The nCino Bank Operating System’s Commercial Pricing and Profitability are now live, according to the company, which is a pioneer in cloud banking and digital transformation solutions for the global financial services sector.
The community bank, which has assets worth $1.1 billion, is utilizing nCino’s Automated Spreading function, which is powered by nCino IQ (nIQ), a platform that empowers financial institutions with real data-driven insights and intelligent automation. To promote digital efficiency, transparency, and real-time data insights throughout the mortgage issuances process, nbkc has removed several services, manual tasks, and irritating experiences in favor of the nCino end-to-end platform.
Kevin Nielsen, Director of Product Management, nbkc, stated, “By adopting the nCino platform, it has allowed us to provide a better online relationship banking experience. Our customer experience will always be our top priority, and the nCino Bank Operating System provides a comprehensive, one-stop platform to help us streamline our processes. We’re thrilled about this partnership and excited to see how our online relationship banking business continues to evolve with this tool.”
nCino’s Commercial Pricing and Profitability is an on-platform solution powered by nIQ that enables pricing to occur at every relevant deal point in the commercial deal lifecycle, enabling nbkc relationship managers to concentrate on the client while also giving visibility to executives and portfolio managers to help ensure profitability metrics are met, resulting in a unified pricing process that is straightforward and profitable. Additionally, the adoption of nCino’s Automated Spreading function has put the bank in a position to cut the time it generally takes to spread financial statements and tax returns by up to 75%, freeing up bank workers to concentrate on providing meaningful financials. Financial organizations can use nIQ to automate data extraction, such as extracting data from scanned tax returns and financial statements, allowing new degrees of automation in underwriting and significantly lowering loan origination times. nIQ leverages optical character recognition technology.
The ability of data, as well as the insight and personalization it will offer to both bankers and consumers, will be key to the delivery of financial services in the future. To realise the connected competitive advantage that data-driven decision-making offers, financial institutions frequently lack the infrastructure to integrate it into their operations. Earlier this month, Nielsen appeared on stage alongside nCino’s Commercial General Manager, Chris Gufford, at the company’s largest user conference in Raleigh, North Carolina, to discuss the solution’s effects at nbkc bank with the conference’s 1400+ attendees.
Josh Glover, President, and Chief Revenue Officer, nCino, commented, “Financial institutions continue to navigate increased competition, changing expectations, and the need to capture deeper customer insights through a successful digital strategy that will drive stronger revenue. nbkc is ahead of the curve and has embraced our single platform infrastructure to improve efficiency, productivity, customer experience, and risk management. We’re proud to work with forward-thinking institutions like nbkc and look forward to a strong, long-term partnership.”