Wells Fargo Broaden Application of the nCino Bank Operating System

Digital Payment, Digital Payment Platforms, Banking, Banking Services, Digital Banking, Digital Banking Platform, retail banking, Cloud-based Systems, Banking-as-a-service, BaaS, fintech, fintech outlook
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Wells Fargo & Company will widen the use of the nCino Bank Operating System to boost digital transformation in its Consumer and Small Business Banking division to offer a pioneering technology experience, according to nCino, Inc., an innovator in cloud banking and digital transformation solutions in the global financial services industry. Wells Fargo had already chosen nCino as the technology underpinning for modernizing its commercial lending operations.

Derek Ellington, Head of Small Business Banking at Wells Fargo, commented, “The pandemic has certainly changed the way our customers want to work with us. Providing more access to digital banking options that are fast, safe and convenient is important and has spurred additional investments in technology. Collaborating with nCino is expected to provide our customers with a more streamlined lending experience, reducing the sometimes tedious back and forth that sometimes occurs when applying for and obtaining a loan, and it provides our employees a single view of each customer, making the end-to-end lending experience quicker and more efficient.”

A key component of Wells Fargo’s digital transformation strategy has been identifying an adaptable, cloud-native platform that could expand as per business requirements. nCino’s Small Business Banking Solution offers a single interface to expedite the complete lending process for generation, screening, and asset management, as small business people constantly desire faster access to financing and digital experiences without having to visit an office.

Pierre Naudé, CEO of nCino, stated, “We’re incredibly proud to expand our relationship with Wells Fargo two quarters after they first selected nCino to transform their commercial lending operations. Wells Fargo clearly sees the value of the cloud as an enabler in their continued evolution and transformation, and we are confident our best-in-class cloud platform will help drive additional efficiencies and unlock even more value for their employees and small business clients.”

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