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WaFd Bank Leverages nCino to Provide Comercial and Small Business Financing


WaFd Bank

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Customer EngagementCommercial BankingSmall Business Banking

Seattle-based WaFd Bank has implemented nCino's Bank Operating System to enhance its commercial lending efficiency and improve the customer experience. The Bank was able to utilize nCino's platform for Small Business Administration (SBA) loan processing during the COVID-19 pandemic, processing over 6,500 Paycheck Protection Program (PPP) loan requests, demonstrating the platform's agility and ability to meet changing business demands.

WILMINGTON, N.C., Aug. 11, 2020 (GLOBE NEWSWIRE) — nCino, Inc. (NASDAQ: NCNO) today announced that $18.2 billion-asset Seattle-based WaFd Bank has deployed the nCino Cloud Banking Platform to increase and digitize its commercial lending efficiency and improve the client experience. WaFd was also able to utilize nCino for SBA loan processing to assist small businesses through the coronavirus pandemic as a result of the platform’s agility. The bank worked with management and technology consulting firm West Monroe to implement nCino’s cloud-based digital platform.

To better meet ever-evolving client expectations, WaFd recognized it needed to upgrade its technology, replacing manual processes and disparate systems with a single digital end-to-end platform, which it found in the nCino Cloud Banking Platform. WaFd first selected nCino’s Commercial Banking Solution to overhaul its commercial lending division and nCino’s Customer Engagement Solution to create a client-centric portal that allows WaFd’s bankers to deliver an even better client experience. Once the CARES Act was announced on March 27, the bank added nCino’s SBA Solution, which it used to quickly and efficiently process over 6,500 Paycheck Protection Program (PPP) loan requests from small businesses in its surrounding communities. Because the nCino Cloud Banking Platform seamlessly spans lines of business, the bank was able to adjust quickly to meet various business demands, all while remaining within one connected system and ensuring compliance.

“nCino was the first platform I saw that provided the tools our bankers needed to work interactively with our clients,” said Brent Beardall, president and CEO of WaFd Bank. “That digital collaboration became even more important when the COVID-19 pandemic hit. With nCino’s nimble platform, we had the fundamentals we needed to get our clients into the portal and process their application regardless of their location, which was essential in the midst of the coronavirus crisis.

The flexibility of nCino’s SBA Solution has allowed us to process over half a billion dollars in PPP loans for new and existing clients, and the fact that we were able to get up and running on it in literally a matter of days is both a phenomenal accomplishment and tribute to the partnership that we have with nCino and West Monroe.”

WaFd chose West Monroe as its consulting partner for its nCino implementations due to the firm’s deep expertise in financial services and experience in process optimization, customer experience, and organizational change management. West Monroe’s vast knowledge of the nCino Cloud Banking Platform enabled a swift and effective deployment.

“West Monroe welcomed the opportunity to make such a large impact in our local community by working with WaFd Bank,” said John Stockamp, director in West Monroe’s Financial Services practice. “With offices literally across the street from each other in Seattle, we’ve been great partners from the start. And as nCino experts, we were able to get to work immediately, allowing WaFd to respond to the community’s commercial lending needs — fast. We’re proud to work with organizations like WaFd Bank in the communities where we live and work.”

“I’m incredibly proud of what WaFd has been able to accomplish for its clients with the nCino platform,” said Paul Clarkson, EVP of community and regional banking at nCino. “Not only have they made lending faster and easier for their commercial clients, they also quickly pivoted amid an unprecedented global pandemic to help small businesses. We very much appreciate our strong relationship with WaFd and West Monroe, and we continue to be impressed by the powerful impact WaFd has on its community.”