18 January 2018
visit www.ebaday.com

Member Business Financial choses nCino system

11 August 2015  |  4072 views  |  0 Source: NCino

NCino, the leader in cloud banking, announced today that Member Business Financial Services (MBFS) has selected its Operating System to provide its partner credit unions with automated workflow and greater efficiencies throughout their member business lending processes.

The Pennsylvania-based CUSO, jointly owned by a dozen credit unions and partner to more than a dozen additional credit unions in the Mid-Atlantic region, offers a full suite of commercial lending services, primarily servicing its member credit unions’ commercial loan portfolios. It also provides loan underwriting, loan covenant compliance and tracking, closing document preparation services and more. MBFS sought to streamline communication and simplify reporting with its credit union partners; the CUSO selected nCino to transform the mechanics of how it communicates in everyday business by automating loan document management, reporting and workflow across all phases of the member business lending process within a single platform.

“MBFS is committed to investing in technology that enables our credit unions to develop stronger relationships with their business members while increasing efficiency, reducing costs and remaining compliant,” said Mark Ritter, CEO of MBFS. “nCino allows us to provide our member credit unions with one platform that ties together loan origination, document management and portfolio administration. Our member credit unions and their borrowers will greatly benefit from nCino as loans will now be delivered faster and with more transparency.”

MBFS has significantly grown its number of partner credit unions over the past several years and continues to increase loan volume and service more business loans. By partnering with nCino, MBFS can strengthen its credit union relationships and further help empower its credit unions’ members. For example, partner credit unions will have a single, secure access point to upload borrower files and forms to complete a transaction. As a result, the CUSO can provide a deeper level of support in the credit unions’ loan production processes and gain a more comprehensive borrower picture based on each credit union’s specific needs.

“A growing number of credit unions are participating in the CUSO model as an efficient way to improve their overall offerings, while maximizing resources and continuing to offer premium service to members,” said Ryal Tayloe, nCino’s vice president of credit unions. “We are thrilled to partner with MBFS to help enhance and standardize their credit unions’ member business lending programs. When both the CUSO and its member credit unions have strong communication methods and streamlined processes, such as what is achievable through nCino, they have the ability to get loans into the hands of borrowers more quickly.”

Comments: (0)

Comment on this story (membership required)

Related company news


Related blogs

Create a blog about this story (membership required)
visit www.vasco.comvisit www.thomsonreuters.infovisit www.niceactimize.com

Top topics

Most viewed Most shared
Buffett rubbishes cryptocurrencies; South Korea preps exchange crackdownBuffett rubbishes cryptocurrencies; South...
11852 views comments | 16 tweets | 17 linkedin
Europe begins Open Banking era in subdued styleEurope begins Open Banking era in subdued...
10140 views comments | 32 tweets | 35 linkedin
Crypto mining threatened by power capacity concernsCrypto mining threatened by power capacity...
9841 views comments | 17 tweets | 18 linkedin
Exchanges call for global fintech standardsExchanges call for global fintech standard...
9535 views comments | 17 tweets | 14 linkedin
Wells Fargo to close 900 branchesWells Fargo to close 900 branches
9464 views comments | 14 tweets | 16 linkedin

Featured job

Competitive base + commission
New York City, NY - USA

Find your next job