Among the many decisions financial institutions will need to make in order to comply with the new CECL Accounting Standard Update (ASU), one of the most important is determining which method to use to estimate expected credit losses on loans and other assets measured at amortized cost.This ASU references loss rate methods, probability or default methods, and discounted cash flow methods, but how do you know which method is most appropriate for your institution? In this white paper, industry experts offer a guide to help you make the best decision for your financial institution.

In today’s transaction-driven banking environment, providing an exceptional treasury management experience and service are key factors in creating value for customers. In order to optimize treasury’s value, financial institutions (FIs) must embrace automation in their sales and onboarding processes to reduce the amount of time between when a new treasury customer says “yes” to the first time a customer receives an account analysis statement.

Digital account opening is a top priority at many financial institutions, for good reasons. With loan-to-deposit ratios above or approaching 100%, banks and credit unions can’t afford to lose out on potential deposits due to ineffective or inefficient account opening processes. A “friction-free” process is essential to the digital account opening experience but achieving this goal may be harder than it looks for institutions jumping into the DAO waters.“Not long ago, most financial institutions basically had the same digital account acquisition capabilities. Not anymore. Leading institutions are pulling away. Banks and credit unions that don’t provide end-to-end digital account opening must upgrade quickly.”
– Cornerstone Advisors

New Australian SME Lender completes accelerated delivery of nCino’s cloud-based platform MELBOURNE, Australia and WILMINGTON, N.C., Sept. 07, 2021 (GLOBE NEWSWIRE) — nCino, Inc. (NASDAQ: NCNO), a pioneer in cloud banking and digital transformation solutions for the global financial services industry, today announced that TruePillars, a specialist SME lending company headquartered in Melbourne, Australia, is live on the nCino Bank Operating System®. TruePillars selected KPMG Australia as their delivery partner, who in conjunction with the nCino team in Australia, were able to transform the TruePillars’ lending process rapidly and get their users live on the nCino platform in only 12 weeks. 
“As a start-up in the Australian financial services ecosystem, we knew we needed partners who could get us up and running quickly, who were flexible and who understood our business,” said John Baini, Co-Founder and CEO of TruePillars. “nCino and KPMG exceeded our expectations at every turn, from kick-off to go-live. ” 

Wells Fargo has chosen nCino's Cloud Banking Platform as a foundational technology platform to accelerate its digital transformation in commercial banking and corporate and investment banking. By adopting nCino's solution, Wells Fargo aims to enhance its clients' experience, improve efficiency, and streamline its commercial lending operations, while benefiting from a holistic view of clients and improved collaboration.

In the past, the financial services industry was slow to change. Due to the COVID-19 pandemic and consumers’ shifting preferences, however, financial institutions are rapidly adopting digital capabilities and other technologies to support quick, seamless and automated processes and better serve their customers. As the industry embraces change, emerging cognitive technologies like artificial intelligence (AI), natural language processing and machine learning are transitioning from a “nice-to-have” to established key business drivers.While banks begin to truly understand the importance of cognitive technologies, it’s imperative to understand how to fully leverage these technologies to see true business value. The time has come to transform the Agile Enterprise into the Intelligent Enterprise by fully harnessing the power of cognitive technologies to capture deeper customer insights, make informed, data-driven decisions, manage risk and increase efficiencies.

Before embarking on their digital transformation journey, WaFd Bank was a lean operation, providing few services but executing them well.

S&T Bank has implemented nCino's Cloud Banking Platform to streamline processes, advance its digital strategy, and better serve its business clients. By leveraging nCino's platform, S&T Bank has eliminated disparate systems and manual processes, enabling digitization, automation, and improved client experiences across multiple products and channels.

Before implementing nCino, Platinum Bank, a community bank based in the Midwest, was using paper-based processes that required manual tasks. Like many of their competitors, the Bank was looking for a cloud-based solution that would help it gain efficiency, increase transparency and offer its employees and clients a seamless digital experience.Platinum Bank went live on the nCino platform in just under six months, partnering with nCino on an accelerated delivery for incredibly fast implementation, despite additional challenges caused by the COVID-19 pandemic. With new efficiencies and automations to transform commercial lending, the Bank is now able to spend more time in business development and serving existing clients, all while delivering faster credit decisions. Powered by nCino, Platinum Bank can also grow its business loan portfolio more effectively and competitively by identifying bottlenecks in its sales processes.