Created by bankers to address today's banking challenges, nCino is the leader in cloud banking.
The story of nCino begins with bankers developing a real solution to address today's challenges and opportunities in the financial services industry. It began with Neil Underwood, Live Oak Bank's president and chief operating officer, who helped design the Bank Operating System along with James (Chip) Mahan, founder and CEO of Live Oak Bank and one of the 10 Most Influential People in Financial Services as recognized by FutureBanker magazine.
nCino's Bank Operating System was born of necessity and perfected in a real bank environment as Live Oak Bank sought to streamline its lending performance. The Wilmington-based bank (now ranked number three nationwide in small business loans) found the logistics of shuffling paper among loan stakeholders to be unwieldy and time-consuming, and their operations were drowning in paper and inefficiency. To address this challenge and opportunity Live Oak looked at existing banking solutions and found nothing that effectively addressed a typical bank's needs. So they set out to create their own system and nCino was born. "nCino" being a variant of "Encino" which is Spanish for live oak.
nCino immediately put together a team of experienced bankers to draw upon their knowledge of banking and their experiences within financial technology, to create a system that would accomplish their goals. Built upon the Salesforce.com secure SOC 1, 2 and 3 platform, nCino's Bank Operating System tracks a loan through its entire life cycle while ensuring regulatory compliance, reducing risk, increasing transparency and efficiency, and creating new revenue opportunities.
Since successfully implementing the Bank Operating System in 2010, Live Oak Bank has grown to become the #1 bank in ROA and ROE in the United States within their asset category. nCino's target market are community banks with assets between $300 million and $10 billion and credit unions with $200 million and up in assets. nCino has also built a strong partnership with Salesforce.com that has led to a growing customer base and numerous success stories on how nCino clients have benefited and prospered with the Bank Operating System. nCino also has the ability to transform the regulatory process as preformatted reports on all topics can be automatically drawn and sent to bank regulators at predefined intervals.
nCino created the cloud-based banking industry and believes the Bank Operating System has the potential to become the de facto standard for how banks are managed and run. And to enable regulators to identify financial problems and address them before they happen. To date nCino has (on average) helped its banking clients achieve the following results:
- 19% Increase in Loan Volume
- 34% Decrease in Loan Closing Time
- 22% Increase in Staffing Efficiency
- 17% Reduction in Operating Costs
- 54% Reduction in Policy Exceptions
- Elimination of Regulatory Compliance Costs