After 20 years in business, Tradition Capital Bank has taken the initiative to improve their technology stack, establishing a best in breed strategy. nCino Commercial Onboarding and Account Opening was selected as their first digital solution to bring an exceptional commercial account opening experience.
“In the past few years, seeing how commercial banking technology has evolved, we have decided to set our own destiny and be more independent from our core. [nCino] is our first major initiative on that mission.” Lizzie England, VP Business Analyst, Tradition Capital Bank
Tradition Capital Bank
Tradition Capital Bank is a $2B private bank with locations in the Minneapolis, MN suburbs as well as Scottsdale, AZ. Tradition Capital Bank is a partner in business and in life, building dreams and futures on one simple idea: strong one-on-one relationships with clients. They aim to become a total solution for individuals who want more from their bank.
The Challenge
While technology is evolving quickly, Tradition Capital Bank was still using a manual process for commercial account opening that was creating a clunky experience for their bankers and clients alike.
Without an online commercial account opening solution, getting clients their bank accounts and deposits was taking as long as a week or more, with frustration on both sides. Bankers were often tasked with manual rekeying to input information, and with modern technology available in so many other areas of life, their lack of banking technology was becoming a pain point for their business.
Historically a community bank with limited IT resources and staff, Tradition Capital began to realize their current technology solution was not delivering the value they needed to provide their customers. They decided to take the initiative to investigate best in breed solutions.
Build vs Buy
Tradition Capital Bank wanted to source best-of-breed tech solutions—referring to the finding the most innovative solutions out there—versus being reliant on a single platform to do everything technologically for them. Building an entire commercial account opening solution from scratch would not be an efficient or easy route given the complex nature of this process. After being introduced to nCino Commercial Onboarding and Account Opening through an ICBA roundtable discussion, they could quickly see how our commercial account opening solution was the answer.
One of the main benefits Tradition Capital sees with nCino is an overall excellent user experience—not just for the clients, but for the bankers as well. After full implementation, Tradition Capital is well on their way to becoming a tech-forward community bank.
Saving Time: From Weeks to Days to Open a Commercial Banking Account
Beyond modernizing their technology solutions, nCino has also created benefits for Tradition Capital by reducing the amount of time it takes to open a commercial account from a week or more to mere days. Not only does this get account numbers in the hands of clients faster, it also gets deposits in the bank sooner.
Tradition Capital is seeing firsthand with nCino Commercial Onboarding and Account Opening how improving technology can also improve the bottom line.
