WILMINGTON, N.C. – nCino, a provider of secure, cloud-based operating solutions to the financial services industry, said that Michigan-based Educational Community Credit Union has selected its solution.
According to ncino, over the past year the $419-million ECCU has been strategically building out a commercial loan department, recognizing these products’ potential as an enterprise growth opportunity and benefit for business members.
“nCino’s cloud-based platform handles everything from prospecting and pipeline management to the servicing of the loan,” said VP-Commercial Loan Services Kenny Leonard. “By staying within a single platform, and not having to jump between several systems or worksheets, we will drastically streamline each loan’s workflow and how we as an institution manage risk and reporting.”
ECCU’s commerical activity was previously rolled into the consumer lending group; it is now an independent department with four employees and a portfolio that quadrupled in its first year. Leonard’s team expects nCino’s Bank Operating System to help maintain this growth as well as propel it forward at a faster rate. The platform will allow ECCU to remove manual tasks and formalize all processes to achieve greater productivity, all without adding back office resources.
“More credit unions are getting into the member business lending arena, and the time is ripe for them to experience tangible portfolio gains,” said ncino CEO Pierre Naudé . “They can achieve their desired results more quickly with the right technology. Our credit union customers are equipped with an intuitive platform that streamlines the completion and movement of loan files without sacrificing process governance, meaning their member business borrowers receive quicker, higher quality approvals on the financing they need.” nCino said its customers on average experience a 22% increase in staff efficiency following implementation. Its Bank Operating System uniquely combines essential loan origination functions with member relationship management, business process workflows and reporting dashboards to simplify and expedite the entire lending process.