The COVID-19 pandemic accelerated the need for financial institutions to invest in digital technology. As the pandemic forced banks and credit unions to swiftly adapt and operate virtually until they could reopen, expectations shifted as customers became accustomed to the convenience and flexibility that online banking offers.
In addition to changing customer expectations, the commercial banking industry is also facing pressure from regulators, a challenging competitive environment and outdated technology. To combat these challenges, financial institutions must balance growth, profitability, efficiency and risk, all while striving to exceed customer expectations.
The decision to evaluate, select and implement a Commercial Loan Origination System (CLOS) is one of the biggest a financial institution can make. When done right, it enables financial institutions to stay ahead of competition and truly transform their commercial lending processes for their borrowers and employees.
To help financial institutions optimize their search while avoiding common mistakes, nCino partnered with Cornerstone Advisors for a webinar sharing how to successfully evaluate, select and implement a Commercial LOS. In the series, they identify four critical success factors that distinguish a successful evaluation and selection process, and breakdown the biggest challenges facing financial institutions throughout the process.
nCino and Cornerstone Advisors also talk through the most common mistakes that financial institutions make when starting the vendor selection process and what financial institutions can do to avoid picking the wrong system that will not meet their business needs.
To learn more about how to find the right Commercial LOS for your financial institution and the benefits that nCino customers experience from nCino’s Commercial LOS, download our on-demand webinar, Transforming the Commercial Lending Process for a Digital-First World, now.
To read Cornerstone Advisors’ exclusive three-part series on evaluating, selecting and implementing a CLOS, download the reports here.