Thought Leadership |

How nCino Helps Community Banks Deliver on Their Mission

Customer

Platinum Bank

Solution

Commercial BankingConsumer BankingMortgage

Region

North America

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Community banks are facing challenges from larger banks and changing consumer preferences. nCino can help them address these challenges by providing a digital platform that streamlines operations and improves customer service.

By providing essential banking services in small towns and rural communities, community banks play a crucial role in the operation of the U.S. financial system and overall economy. While every community bank is different, they all have at least one thing in common: the need to streamline and standardize current processes, increase efficiency and find innovative ways to better serve their customers and communities.

Pain Points for Community Banks:

Duplicative Data Entry – Siloed legacy systems lead to time-consuming and inefficient processes where manual data re-entry is common.
Outdated Systems – Current processes are outdated and lacking a customer-focused digital experience that is easy to use on both the front and back end for users.
Lack of a Digital Ecosystem – The lack of a digital ecosystem leads to irrelevancy and lack of competitive edge in the market.
Changing Consumer Preferences – Community banks who do not utilize technology have a hard time reacting and adapting to the priorities of their customers.

According to IDC Market Research (2022), “companies lose 20% to 30% of their revenue to inefficiencies every year, which leads to customer and employee dissatisfaction.” This means many community banks currently have an opportunity to build and incorporate technology into their well-established foundations, which can help them attract and retain talented employees.

Another opportunity community banks have is the chance to demonstrate how technology and tradition can happily co-exist. One way they’re doing this is by partnering with nCino to drive automation and digital transformation. nCino customers in the community space are gaining value from the bank’s digitized day-to-day operations and passing that value on to their customers and the businesses in their community.

“nCino enables us to be more efficient and more collaborative, especially around renewals and originations. With nCino, we have completely automated and digitized the loan approval process.” Jeff Bajek – Chief Credit Officer, Platinum Bank

Benefits of nCino and Community Banks Working Together

1. Focusing on the individual needs of customers and being able to react and adapt to consumers’ changing preferences. The nCino Cloud Banking Platform is a single, end-to-end solution where the Bank has access to centralized data and files, and the customer can easily complete processes and applications, with lightning-fast turnaround.

2. Community bankers wear a lot of hats, and nCino’s end-to-end system can address customer needs across multiple LOBs on one platform.

3. Standardizing current processes and becoming more efficient. With nCino’s out of the box solution, 90% of the platform is built out in order to meet the Bank’s specific needs for flexibility, functionality and a user-friendly interface.

4. Growing and expanding to be able to compete with the big players across the street. Community banks can become more competitive and relevant when bringing in a software like nCino that truly is a platform approach with the ability to fast follow with another line of business.

5. Creating more time to focus on giving back to local communities, and the foundation of community-based banks through the use of an efficient, seamless and personalized platform.

“Part of the reason we were able to implement nCino so quickly is because we didn’t get bogged down, we didn’t try to change things. We implemented nCino ‘out of the box’.” Hugh Connelly – EVP, Chief Lending Officer, Huntingdon Valley Bank

Personal connections are still at the core of community banks, but those connections look slightly different in our increasingly digital world. Simply knowing the name of every customer who walks through branch doors is not enough to maintain and build lasting relationships. Instead, incorporating both tradition and technology through digital touch points and physical experiences helps maintain and build those relationships.

With nCino, community banks have the opportunity to embrace and invest in a digital ecosystem that will automate business processes, attract and retain top talent, and focus on the needs of customers.