nCino, the worldwide leader in cloud banking, today announced that $1 billion-asset CFCU Community Credit Union has selected its Bank Operating System to increase transparency and speed across its commercial lending operations.
Based in Ithaca, New York, CFCU Community Credit Union serves more than 70,000 members and is one of the largest credit unions in the state. As the credit union grew in recent years, it began to recognize some back office inefficiencies of its spreadsheet- and email-based processes. Adopting nCino’s Bank Operating System gives the credit union a single, secure cloud-based platform, built on Salesforce.com, that combines customer relationship management (CRM), loan origination, deposit account opening, workflow, enterprise content management, business process management, digital engagement and instant reporting. CFCU Community Credit Union expects the platform to help break down silos and streamline business lending from origination to closing.
“Our growth over the past several years prompted us to take a closer look at our operational procedures and identify where we could boost both efficiencies and the member experience,” said Cathy Benson, chief lending officer at CFCU Community Credit Union. “With nCino’s platform, we’ll be able to configure processes and workflows to best fit our institution’s unique needs. At the same time, the technology will create internal transparency and accountability around the status and ownership over each activity, allowing us to ultimately better serve our members.”
CFCU Community Credit Union will also be leveraging the Bank Operating System’s Customer Portal, an interactive gateway that enables credit union employees and members to securely interact and digitally share documents. The Customer Portal empowers members with visibility into the status of their loans and information about what actions are required to move the loan process forward. This transparency, combined with easier communication and faster loan turnaround times, will contribute to stronger member relationships.
“Forward thinking financial institutions such as CFCU Community Credit Union recognize that successful growth must be supported by efficient and scalable processes,” said Paul Clarkson, senior vice president of community and regional financial institutions at nCino. “With nCino’s Bank Operating System, the credit union will be able to reduce manual processes in favor of increased automation, adding new efficiencies and productivity into critical banking operations.”