Banking Fintech News

Financial Institutions Digitally Process and Approve Over $30 Billion in Paycheck Protection Program Loans Using Ncino

Origin Bank Gains Lending Efficiency and an Improved Customer Experience With nCino

nCino, the worldwide leader in cloud banking, announced that financial institutions using the nCino Banking System have been able to swiftly and digitally provide more than $30 billion for their eligible small business clients through the Small Business Association’s Paycheck Protection Program (PPP).

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nCino’s Bank Operating System is currently being utilized by credit unions, community and regional banks, as well as multiple top 20 U.S. banks, providing the digital tools these institutions need to maintain business continuity and remote operations, manage their portfolios, mitigate risk and help ensure compliance as government relief and stimulus programs continue to evolve.

IBERIABANK, an approximately $31-billion-asset bank headquartered in Louisiana and an nCino customer since 2016, announced that in the first wave of the PPP program, they took in 9,500 applications totaling $1.9 billion, of which they reserved funds of over $1.7 billion, or 90%. As of April 18, IBERIABANK had placed over $640MM in clients’ checking accounts and approved loans that impact 188,000 small business employees.

“We are very proud of how we have been able to support our clients, particularly at a time when they need us most,” said Randy Bryan, Executive Vice President & Director of Business Transformation for IBERBIABANK. “This level of support would not have been possible without our partnership with nCino, the long hours our associates have dedicated to this work, creative and nimble decision making, and excellent teamwork. Because of nCino’s cloud-based technology, our team was able to continue working and processing loans without interruption and at a much higher volume than we could have ever done manually. Ultimately, the nCino platform has enabled us to get more money into the hands of our clients more quickly, and we remain ready to continue supporting our clients through the next wave of funding and beyond.”

Read More: Celsius Network and Prime Trust partner to secure depositors funds and offer low-cost credit

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