nCino, Inc., a pioneer in cloud banking and digital transformation solutions for the global financial services industry, today announced that $425 million-asset Platinum Bank has deployed the nCino Bank Operating System to optimize its business lending. With COVID-19 hastening financial institutions’ need to transition to a digital environment, Platinum Bank employed nCino’s Accelerate delivery model to first adopt the platform’s core functionality and swiftly respond to client and employee needs while enabling them to iteratively add further features and capabilities in the future.
Headquartered in Oakdale, Minnesota, Platinum Bank’s core focus is business banking. They looked to nCino to provide a framework that allows its team to collaborate seamlessly and, when necessary, remotely through a single end-to-end digital platform. The bank adopted nCino to reduce manual, repetitive tasks so that its team would have more time for business development and taking care of existing clients all while delivering faster credit decisions. nCino is helping Platinum Bank to more effectively identify bottlenecks in its sales process and work to quickly overcome those obstacles so that it can grow its business loan portfolio.
“In spite of beginning implementation at the start of COVID-19, nCino’s Accelerate delivery model allowed us to quickly configure and deploy the nCino platform while still continuing to serve our clients,” said Jeff Bajek, chief credit officer at Platinum Bank. “We knew speed was of the essence, so we made a strategic decision to get the core functionality in place first, knowing we can add additional capabilities in the future as our needs change and our growth accelerates. We’re grateful to nCino for steadily guiding us to a launch date during unprecedented environmental and economic challenges.”
nCino’s Accelerate delivery model is a prescriptive plan that can meet the needs of financial institutions looking to swiftly and cost effectively implement the nCino platform. With the Accelerate delivery model, financial institutions are:
1. Provided with a fast deployment plan to help accelerate full user and feature adoption;
2. Given the flexibility to implement additional features and expand the platform over time;
3. Provided the most critical nCino features up front to help realize immediate business value;
4. Able to configure automation to suit their individual needs.
“The need to develop digital banking services to adapt to changing consumer expectations is stronger than ever and with nCino’s Accelerate delivery model, financial institutions can undergo digital transformation in smaller steps, allowing them to achieve faster ROI,” said Paul Clarkson, EVP of U.S. financial institutions at nCino. “We’re proud that Platinum Bank has entrusted us with providing a scalable, sustainable and flexible solution as a foundation for its continued digital growth.”
Bajek added, “If we as an industry don’t learn to become more efficient, we’re susceptible to disruption, resulting in lost market share and the risk of our model becoming irrelevant. With nCino, we’re anticipating double-digit loan growth in the coming years.”