How WaFd Bank Reimagined Efficiency and Revenue with nCino

This strategy worked in their favor until the 2008 financial crisis, at which point the digital banking revolution started to gain steam. As the financial services industry began embracing the new digital landscape, WaFd Bank’s simple systems couldn’t keep up, and the Bank began to lose its competitive edge.

To turn things around, WaFd Bank sought to replace its ultra-low-cost operating model with a digital-first approach that would:

• Facilitate the bank’s transformation into a full-fledged commercial bank

• Enable the bank to scale its commercial lending capabilities

• Provide real-time insights into the commercial loan origination process

• Improve the quality of the customer experience

“If we wanted a long-term franchise, we needed to invest.”

–Brent Beardall, CEO, WaFd Bank

By accomplishing these goals, WaFd Bank would transform itself into a full-fledged commercial bank with diversified revenue streams powered by modern technology, a shift in operations that led the Bank to rethink its approach to efficiency. They chose to invest in modern technology which would improve the customer experience and ultimately drive revenue. They ultimately chose nCino’s Bank Operating System® to help them meet their goals of becoming a commercial bank.

After implementing the cloud-based nCino platform in March 2020, WaFd further consolidated its transformation into a full-fledged commercial bank, enabling it to better manage the onslaught of commercial loans triggered by the Paycheck Protection Program (PPP) resulting from the COVID-19 pandemic.

“nCino really opened our eyes to what a modern architecture could do and how you could be nimble from an IT perspective.”

–Brent Beardall, CEO, WaFd Bank

Discover how nCino’s Bank Operating System has helped WaFd Bank undergo a digital transformation and reimagine its approach to efficiency and revenue by downloading our WaFd case study.