nCino has released the latest update for its Banking Operating System that will now be comprised of nCommercial, nRetail, nMortgage and nCompliance. Since implementing the Banking Operating System in 2010, nCino has been working hard to become the standard solution for banking by fixing common banking problems.

“In recent years, financial institutions have faced a number of challenges – a lack of process around origination and portfolio management, whether to focus the limited resources they have on compliance or efficiency and little coordination across departments,” said Pierre Naude, chief executive officer of nCino. “We built the Bank Operating System within a live bank environment to address these challenges as securely and comprehensively as possible.”

nCino’s Bank Operating System was designed to help banks streamline its lending performance. Using Salesforce.com’s (News - Alert) secure SAS70 Type II platform, the company was able to develop a way to track “a loan through its entire life cycle while ensuring regulatory compliance, reducing risk, increasing transparency, and efficiency, and creating new revenue opportunities.”

The Bank Operating System, which was implemented first at Live Oak Bank, has helped to streamline banking operations. “Since implementing nCinco’s Bank operating System, Live Oak Bank has experienced a 19 percent increase in loan volume; 34 percent reduction in loan closing time; 22 percent increase in staff efficiency; 17 percent reduction in operating costs; and 54 percent in reduction in policy exceptions,” said Neil Underwood, president and chief operating officer of Live Oak Bank.

Underwood said with this new banking solution, his bank was able to become one of the best on the market. “As a result, our bank ranked number one in return on assets and return on equity in 2011 [according to Independent Community Bankers Association research]. With tangible numbers it is difficult to refute the substantial and positive impact a transparent bank operating system has had on our bank.”

nCino lets potential users take advantage of an online ROI calculator to see how the banking solution could help their bank. Its website also offers a list of the benefits and features, along with a video demonstration of how the system would work in real-time. The latest release is available for purchase through nCino’s website.

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