How the Pandemic Accelerated Digital Innovation for Business Banking
August 24, 2021

During the COVID-19 pandemic, consumers’ comfort with online services and tools accelerated at a rapid pace. Whether working remotely, homeschooling children, ordering groceries online, or accessing financial services, our expectations shifted as our needs changed almost overnight.

As a result, the use of digital document-signing technology grew in popularity, a trend that is likely here to stay. A recent survey conducted by Aite Group found that out of the 8,653 US consumers surveyed, 27% indicated that they tried some new method of banking through a digital channel during the pandemic, such as mobile banking, since many bank branches had to operate virtually for some time. Over 70% of consumers reported that they plan to continue using these tools, demonstrating that digital is becoming customers’ first choice for meeting their banking needs.

nCino recently teamed up with representatives from Navy Federal Credit Union, Truist, and OneSpan for a webinar to discuss how a pandemic-challenged year accelerated digital transformation plans for financial institutions and which digital trends are here to stay. The increased use of digital channels forced banks, credit unions and other financial institutions to improve their product origination and digital onboarding capabilities, while those further down a digitization path built upon existing capabilities to better serve existing and new customers. They also discussed some of the must-have digital capabilities for financial institutions and how an end-to-end cloud-based platform helps financial institutions keep up with evolving customer expectations and offers enhanced customer and member experiences, reduced cycle times, and a faster and more transparent lending process.

To learn more about how Navy Federal Credit Union and Truist leveraged nCino to automate their process for remote banking, best practices for how to expand e-signature use and work towards a Center of Excellence, and which digital banking trends are here for the long haul, download the on-demand webinar “Leading a Path to Digital Innovation in Business Banking” now.

  • Digital Transformation