nCino has enhanced its small business lending functionality by adding online application, underwriting automation and e-signatures, as well as integrated document preparation tools, to allow small businesses to get financing more quickly. Most digital applications today - even when supported by an automated loan decision engine - lack true end-to-end attributes and efficiencies. nCino’s Bank Operating System provides a single, secure cloud-based platform that enables financial institutions to take on and fulfill small business loans up to the largest, most complex commercial credits.

Trisha Price, nCino’s EVP of product development and engineering, said, “The small business loan market is often inefficient, and alternative lenders have been able to exploit this segment’s need for funding. Traditionally, credits less than $250,000 have not delivered significant impact to financial institutions’ bottom line and, because of their emphasis on creditworthiness, these institutions have been challenged at expanding footprint in this market. Now, we are able to provide tools that banks and credit unions can utilize to tap into these smaller credits in an automated, more profitable way while still holding true to credit quality.”

nCino’s Bank Operating System now provides:
• A brandable, intuitive online application, guiding customers quickly through a bank’s loan or deposit process, incorporating any previously provided information and facilitating a true 360-degree view of the customer for the bank.
• The online application feeds into nCino’s automated loan decision engine, enabling financial institutions to automatically run loan requests against their existing, proven credit policies to render decisions and provide consumers with funds faster than ever.
• Through Customer Portal, the borrower is digitally connected to the banker. This portal creates an interactive dialogue between financial institutions and borrowers throughout the loan lifecycle, allowing the borrower to securely receive and upload required documents from any location and monitor loan stages as they progress.
• When it’s time to prepare the closing package, information inputted from the banker or borrower is automatically aggregated into the forms without the need to rekey, populating it all from nCino. Document preparation is a task that processors or loan officers often spend up to a day doing; nCino is taking it down to just minutes.
• Documents are then sent out for e-signature, with the option for printing if a wet signature is required.

David O’Connell, Senior Analyst with Aite Group’s Wholesale Banking practice, said, “Banks are increasing their focus and IT investment on small businesses.” O’Connell went on to say, “This is a wise IT investment. When we surveyed SMBs about how they decided where to obtain credit, among SMBs’ priorities were an institution that had credit application and close processes that were fast and easy.”

By bringing together all the key steps in the lending process from online application through underwriting and automated decisioning, document preparation, closing, e-signature and real-time reporting, nCino continues to empower financial institutions with the tools to reengineer processes and boost efficiencies, better serving customers of all types. The Bank Operating System affords a complete customer view regardless of the size or complexity of the credit, allowing financial institutions to select which loans need that additional human touch while still automating key aspects of the loan’s review and approval to ultimately speed up the process.