nCino: The Panacea to Bank On

Pierre Naudé, CEO, nCinoPierre Naudé, CEO
In a world that demands speed of operations, easy access to data, and impeccable reporting, there is very little room for incremental improvements. Banking leaders on their part are persistently looking for solutions that can single-handedly streamline the entire operation, inclusive of customer relations, reporting, regulatory compliance, profitability, and transparency of data. The challenge is to find success at the congruency of speed, efficiency, and trustworthiness, and the solution that can help banks reach this balance requires navigating a baffling path to identifying solutions with a proof-of-concept that speaks for itself. With a customer base of over 130 banks and credit unions of all sizes in multiple geographies, nCino stands as a true and tried answer to this challenge. “Bankers continue to embrace our technology, positioning us to continue hiring skilled professionals who can then deliver a world-class product and service experience back to our customers,” says nCino’s CEO, Pierre Naudé.

nCino provides a comprehensive set of features that function across 20 different verticals in banking, from new customer on-boarding and relationship management to 360-degree visibility reporting and data publishing capabilities. The cloud-based nCino Bank Operating System particularly shines in the lending process, driving a value proposition that splits two-way. Customers are happy; the whole loan process which was cumbersome, time-consuming, and filled with elaborate paperwork, is now smart, streamlined, expedited, and entirely digital. For banks, the picture has never been more lucrative—reduction in overall operation costs, increased transparency and ease of data access, and boosted profitability.

With an asset worth of $2 billion, United Federal Credit Union (UFCU) was looking for a scalable technological answer that can rope together their entire lending portfolio and keep up with their ever-demanding member business lending goals. They turned to nCino for an answer, and the results were spectacular.

Bankers continue to embrace our technology, positioning us to continue hiring skilled professionals who can then deliver a world-class product

“As the needs of our members increase, this kind of platform (nCino) really becomes foundational to where we’re going, not just in the next year, but in the next decade,” says Gary Easterling, Board Member and Former CEO, UFCU. The client experienced a 129 percent increase in business lending assets under management, as a result of replacement of the compartmentalized lending process by a single integrated and streamlined process powered by nCino.

The solution exhibits a cognizant nature, eloquent in communicating with other systems in place—CRM, lead origination, enterprise content management, transactional media, and business intelligence modules. The analytical ability inherent in nCino’s platform powers the “Loan Auto Decision” ability, which collates data from customers, businesses, and third party endpoints; computes the input and publishes it in a digestible manner to facilitate factual decision-making. The platform vehemently protects mission-critical financial data with an SOC certified cloud-based security system that not only meets, but exceeds industry expectations and regulatory standards.

“At nCino, we use phrases like—“We can, if...”, but we never use phrases like— “We cannot, because…”, and that is more of a cultural revolution, as opposed to a software project,” says Naudé. The very statement embodies the problem-tackling nature encouraged in the partnership nCino shares with its clients. The implementation process begins with a series of meetings to define the challenges at hand, and how they can be expunged by experience and expertise in the banking sector. Once the roles and tasks are clear, nCino’s engineers integrate the system within the bank’s core infrastructure in a non-disruptive manner, solving problems en-route successful deployment. The partnership progresses over time in an iterative process of refinement, to meet the evolving needs of the banking world.

nCino News

nCino Acquires Visible Equity to Drive Deeper Insights, Compliance and Advanced Analytics for the Financial Services Industry

WILMINGTON and SALT LAKE CITY - nCino, the worldwide leader in cloud banking, today announced that it has acquired Visible Equity, a market-leading financial analytics and compliance software company based in Salt Lake City, Utah. This strategic acquisition leverages the unique strengths and joint synergies of each company to further drive and accelerate transformation in financial services.

Founded in 2008, Visible Equity is a software as a service (SaaS) company that provides portfolio management, analytics and compliance solutions to banks and credit unions. The combination of Visible Equity's advanced analytics software with nCino's best-in-class Bank Operating System brings new functionality and benefits to end users, including:

• Enhanced portfolio management with increased analytical insights across any financial institution's portfolio, drilling down to individual deposits and loans;
• Increased confidence in overall portfolio risk assessment including probability of default and loss-given default models;
• Regulatory compliance combined with state-of-the-art analytics to manage, monitor and comply with fair lending; and
• A comprehensive ALLL/CECL solution that effectively accounts, through robust models, for loan impairment and expected loss, and instantly produces reports and disclosures.

"Visible Equity is a perfect complement to our vision, mission and company culture," said Pierre Naudé, CEO of nCino. "From the very beginning, nCino's mission has been to transform financial services through innovation, reputation and speed, and we believe this acquisition will further enable us to execute on that mission. We're extremely excited to expand the nCino Bank Operating System to provide even more advanced analytics and compliance capabilities to our clients, enabling them to drive greater insights, efficiency and risk management while furthering their customer relationships."

Tara Lathrop, Supervisor of Leadership Support and Innovative Solutions at Corning Credit Union, said, "The industry is changing at a rapid pace and digital transformation and risk management is a continuous journey and challenge. Our members and employees are constantly looking for best-in-class technology, process efficiency, data insights, and risk management tools. These are the reasons why we already partnered with nCino and Visible Equity. Both companies have always had a philosophy of being able to fully support and scale with their clients and this acquisition highlights nCino's vision of being able to offer more to respond to changing industry and client needs. We're very excited about this combination, particularly as we continue to grow and scale as an organization."

"Joining the nCino team is the right move for us and a natural fit," added Brad Hansen, President and CEO of Visible Equity. "We share with them a passion for innovation, a laser-focus on customer success and a commitment to culture. A key driver of our desire to become part of the nCino family is their industry-leading Bank Operating System and ability to support a global client base of enterprise, regional and community financial institutions. We're excited to share our insights and experience and look forward to further transforming financial services together."

While Visible Equity and nCino will continue to offer their products separately to the market, the two platforms will become fully integrated to provide a seamless client and cloud-based experience, as well as an unparalleled portfolio management and regulatory compliance platform.