WILMINGTON, N.C.--(BUSINESS WIRE)--nCino, the leader in secure, cloud-based operating solutions to the financial services industry, announced today that Stanford Federal Credit Union has selected its Bank Operating System to improve efficiencies in commercial lending and consolidate other disparate platforms to manage the complete loan process in one place.
As the third fastest growing credit union in California and serving more than 50,000 members, $1.6 billion Stanford FCU holds the quality and performance of its expansive line of products and services at utmost importance. Prior to nCino, the credit union had a homegrown lending platform with limited capabilities in place, and needed a more configurable system that would also reduce its dependency on paper files and simplify users’ access to data. nCino’s Bank Operating System will allow Stanford FCU to centralize and manage processes from origination all the way through to loan closing, as well as automate the entire transfer of documents between hands.
“As the first financial institution to offer online banking, we are committed to be out in front of whatever technology is helping move our industry forward,” said Becky Manasseri, business analyst and head of lending systems at Stanford FCU. “nCino will help us deliver on that commitment to our members; granting our employees a comprehensive view of each member relationship and transparency into the loan portfolio gives us data to more proactively serve our borrowers and measure success throughout the loan lifecycle.”
With nCino, the credit union has a single platform for lead generation through to origination, funding and reporting. The Bank Operating System automates all workflows, enabling a more productive, streamlined lending environment. Multiple stakeholders have access to data, providing Stanford FCU employees a view of the member at an aggregate level and essentially offering them a more complete borrower picture. Additionally, the dashboard views and reporting capabilities within nCino simplify the extensive monitoring that commercial loans can require.
nCino’s cloud-based platform provides CRM, workflow automation and reporting capabilities, which the credit union has previously managed on disparate systems. Customizable and scalable, it enables lenders to be better relationship managers by offering a comprehensive borrower profile based on the definitive requirements of any financial institution’s lending environment.
“With constant regulatory pressure from governing bodies, it is essential for credit unions to implement processes that not only assist them in meeting disclosure deadlines, but also help keep an automatic audit log of all work,” said Pierre Naudé, CEO, nCino. “Our Bank Operating System will enable Stanford FCU to increase loan productivity as well as exceed compliance requirements, all while making the lending experience better for its members.”
About Stanford Federal Credit Union
Stanford Federal Credit Union is owned and operated by 50,000 members, including the faculty, staff, students, alumni and volunteers of Stanford University, Stanford Health Care, Lucile Packard Children’s Hospital Stanford, SLAC National Accelerator Laboratory and 100 local companies. The credit union operates on a not-for-profit basis and offers a complete line of competitive financial services and electronic banking options for individuals and businesses.
Wilmington, N.C.-based nCino, Inc. is the leader in cloud-based bank operating solutions to the financial services industry. Through its flagship Bank Operating System solution, nCino leverages the power of the Salesforce Platform to provide small- to mid-sized financial institutions with superior transparency and clarity into their existing loan production pipelines, portfolios and operating efficiencies across all business lines, resulting in increased profitability, productivity gains and regulatory compliance.
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