VeraBank, a community bank headquartered in Henderson, TX, partnered with nCino to modernize lending processes and streamline employee and customer experiences.
The Bank has taken a full-platform approach as it continues to focus efforts on partnering with technology vendors like nCino to bring quality of service to customers and employees, while having a mindset aimed at growth and stability for the future.
Since 1930, VeraBank has grown to over 500 employees and 40 locations. VeraBank’s mission aims to grow the Bank and to serve as deeply as they can the communities in which they do business. “We want to continue to be known for quality of service and innovation,” says Brad Tidwell, President and CEO at VeraBank. To support this mission and vision, the Bank partnered with nCino to in Spring of 2021 to overhaul lending processes and streamline the employee and customer experience.
When Adam Bonanno joined Bryn Mawr Trust (BMT) in early 2019, the institution had already identified nCino as a key partner to enable its digital transformation journey. Adam was a seasoned leader with previous experience in financial institutions where he held Chief Data and Chief Technology Officer positions. His deep knowledge of software engineering and IT also allowed him to bring valuable insight as BMT geared up to implement the nCino Platform
“Our decision to implement nCino was mainly driven by our goal to improve the customer experience. nCino allows us to automate and remove friction to create a seamless digital experience for our customers.” – Adam Bonanno, Executive Vice President & Chief Technology Officer, Bryn Mawr Trust
BMT took a phased approach and implemented nCino’s Cloud Banking Platform to first transform deposit account opening and consumer lending. Throughout the project, Adam stressed the importance of clear goal setting and change management as the Bank prepared for the transformation. This meant setting measurable business goals around automated loan decisions, swifter account opening, reduced errors and more. With clearly defined and measurable business goals in place, BMT partnered with Accenture to complete an agile implementation and went live on nCino in early 2020.
By April of 2020, when the country was in the throes of the COVID-19 pandemic, BMT was already seeing business value from their use of nCino. When COVID-19 forced the Bank’s clients to shift to digital services, BMT saw a 300% increase in deposit applications March through April 2020 and saw digital transactions increase 25% during the same time period. Powered by nCino, the Bank also achieved major reduction in paper usage with the adoption of e-signatures, one of 12 integrations utilized by BMT.
Today, Adam and the team at BMT are focused on evolving the Bank’s use of nCino’s Cloud Banking Platform to further adapt to the needs of their clients and automate processes to enable agility across the enterprise. We look forward to continuing the digital transformation journey with them!
Learn more about how BMT leveraged nCino to achieve a 300% increase in deposit applications and a 25% increase in digital transactions by downloading our customer spotlight.