Payment Methods

nCino Makes It Easier For Small Businesses To Access Funding

nCino, the cloud banking company, announced Tuesday (April 25) it has broadened the scope of its Bank Operating System to provide financial firms with a front-end digital platform supported by back-end processing ability.

In a press release, nCino said it 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. According to the company, many 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.

“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,” said Trisha Price, EVP of product development and engineering at nCino, in the press release.

Included in the enhancements is a brandable online application that guides customers 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 application feeds into nCino‘s automated loan decision engine, enabling financial institutions to automatically run loan requests against their existing credit policies to render decisions and provide consumers with funds faster than ever. Via the customer portal, the borrower is digitally connected to the banker with the portal creating an interactive dialogue between financial institutions and borrowers throughout the loan lifecycle, nCino said.

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