Financial institutions worldwide have felt immense pressure from the impact of the COVID-19 global pandemic in terms of supporting their clients amid financial uncertainty. COVID-19 and the subsequent shutdowns of many businesses have had an economic impact across the globe. As a result of the pandemic, 7.5 million small businesses in the U.S. are now in danger of closing permanently. Unemployment rates in 2020 hovered nearly three times the average of the year prior, and as of June 30th, 2020, 4.5 million homeowners faced forbearance.As the prospect of a quick V-shaped recovery receded in many countries, Accenture analysts anticipated higher job losses, limited economic growth and an environment in which many consumers and businesses will be unable to pay their debts, significantly affecting financial institutions even further.

SYDNEY, Australia, Oct. 13, 2020 (GLOBE NEWSWIRE) — nCino, Inc. (NASDAQ: NCNO), a pioneer in cloud banking and digital transformation solutions for the global financial services industry, today announced that Australia’s first fully licensed challenger bank dedicated to lending to small and medium sized enterprises (SME), Judo Bank, will implement the nCino Cloud Banking Platform to streamline its lending operations and further enhance its client value proposition.

Arbuthnot Specialist Finance Limited (ASFL) is utilizing nCino's cloud-based Bank Operating System to streamline and modernize its real estate funding process, delivering a faster and more efficient lending experience for brokers and clients. The platform allows for digital loan applications, monitoring loan progress and simultaneous collaboration on cases, optimizing operations and enhancing customer service. 

Real estate finance specialist is utilising nCino’s cloud-based Bank Operating System® to deliver unparalleled broker and client lending experience 

Texas Farm Credit, a credit cooperative, implemented nCino's Bank Operating System to enhance its digital capabilities and streamline lending processes. This partnership helped them close a record $400 million in loans and improve operational efficiency with a single cloud-based platform. Credit cooperative implements the nCino Bank Operating System to accelerate its digital transformationnCino's single cloud-based platform helps enable Texas Farm Credit to close a record $400 million in loans year-to-date

WILMINGTON, N.C., Sept. 22, 2020 (GLOBE NEWSWIRE) — nCino, Inc. (NASDAQ: NCNO), a pioneer in cloud banking and digital transformation solutions for the global financial services industry, today announced that $5.3 billion-asset Origin Bank has implemented the nCino Cloud Banking Platform to create better efficiency in its loan origination process and a more streamlined client experience through enhanced digital engagement capabilities.

Deploying an end-to-end commercial loan origination system (CLOS) is complex and provides many opportunities for missteps. Understanding the most common pitfalls that can happen during the implementation is the best way to steer clear of costly mistakes.

The decision to evaluate and implement a commercial loan origination system (CLOS) is a big one for a financial institution, giving it the opportunity to leapfrog the competition and truly transform its commercial lending processes for its borrowers and employees. Careful planning and execution are key components of every successful CLOS evaluation, selection and implementation.

Cloud adoption is now a necessity for financial institutions seeking enhanced services, requiring changes in work culture, system integration and regulatory compliance. As the financial landscape evolves into distinct segments, executing effective digital strategies is crucial for long-term success, positioning institutions to prosper in the new age of banking.

Seattle-based WaFd Bank has implemented nCino's Bank Operating System to enhance its commercial lending efficiency and improve the customer experience. The Bank was able to utilize nCino's platform for Small Business Administration (SBA) loan processing during the COVID-19 pandemic, processing over 6,500 Paycheck Protection Program (PPP) loan requests, demonstrating the platform's agility and ability to meet changing business demands.