U.S. Bank expands their nCino partnership to include nCino's Commercial Banking Solution.
About U.S. Bank
Headquartered in Minneapolis, Minnesota, U.S. Bancorp has 77,000 employees in 13 countries and is ranked 150 on the Fortune 500. With $681 billion in assets as of June 30, 2023, U.S. Bancorp is the fifth largest U.S.-based banking institution.
The Challenge
As a leading enterprise bank, U.S. Bank prioritizes innovation, customer-friendly products, and efficiency to maximize return on investment (ROI). The Bank emphasizes communication and collaboration across its various business lines, leveraging optimized systems and technology. With continually evolving borrower expectations, U.S. Bank accelerated its digital transformation journey, enhancing speed to market in lending operations.
“U.S. Bank is committed to our digital strategy, driving growth and speed to market. One of our goals in supporting that strategy is improving and increasing our agility through every step of the lending process.” - Tina Cartwright, Transformation Strategy Executive, U.S. Bank
nCino Implementation
U.S. Bank went live on the nCino Cloud Banking Platform in 2019, beginning with small business lending. Since then, they have adopted nCino in their commercial and wholesale lending areas, and the solution is used by employees across multiple business lines.
“As we rolled out the platform, we really got to appreciate the scalability of the solution,” Cartwright says. “As we continued to work closely with nCino during that time, we learned there were even more capabilities that would allow us to expand it to [additional] areas [of the Bank].”
“We define success with the CoE in regard to transparency, which has allowed us to build connections across the organization with our leaders and users. Ultimately, they have a front row seat to the entire transformation.” - Tina Cartwright, Transformation Strategy Executive, U.S. Bank
Results
The digital transformation facilitated faster loan cycles for U.S. Bank and reduced processing times, meeting the demand in evolving customer expectations. The platform's integrated nature streamlined processes, increasing data accuracy and minimizing manual-entry errors. nCino's on-demand reporting and user-friendly dashboards enhanced transparency across the enterprise, supporting prudent risk management.