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.
WaFd Bank implemented nCino to expand its services with a digital-first approach.
After implementing the cloud-based platform in 2020, the Bank continued its journey with nCino to become a full-fledged commercial bank.
Discover more details on WaFd’s transformation in the full case study.
Before embarking on their digital transformation journey, WaFd Bank was a lean operation, providing few services but executing them well.
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.