How WaFd Bank Reimagined Efficiency and Revenue with nCino
Before embarking on their digital transformation journey, WaFd Bank was a lean operation, providing few services but executing them well.
Optimize Your SBA Lending with the Pioneer in Cloud Banking
nCino's SBA solution enhances the 7(a) loan process for your clients and employees by digitizing documentation collection, eliminating manual processes, simplifying data entry, and providing real-time transparency.
Unlock the Small Business Opportunity
Submit SBA loan guaranty requests from within the nCino Cloud Banking Platform via the SBA’s E-Tran Portal, reducing duplicative data entry.
Review and edit the application information and continue to send updated data until the SBA approves or rejects the loan and provides a loan number.
Control users’ access level with permission sets.
Synchronize data that users update in the E-Tran application window with the related records on which the data resides.
Ensure data transmits to the SBA in the required format with automated mapping and data translation capabilities that work in the background.
Deliver an Enhanced SBA Lending Experience with nCino
nCino's SBA Solution creates a streamlined documentation experience for customers and supports submission of the following forms via the Docusign integration: - IRS Form 4506-C - SBA Form 1919
85%
Reduction in Time to Deliver Loan Decisions
"The flexibility of nCino’s SBA solution has allowed us to process over half a billion dollars in PPP loans for new and existing clients.”
Brent Beardall
President and CEO, WaFd Bank
PPP
Financial institutions using nCino have been able to swiftly and digitally provide more than $30 billion for their eligible small business clients through the SBA’s Paycheck Protection Program (PPP).
Improve SBA Lending Efficiency
The nCino SBA Solution facilitates the loan approval process for any type of SBA loan, including but not limited to 7(a) and Express. Bankers can take advantage of nCino’s integrated view of the customer to streamline the data entry process and to create and submit their loan application via an integration to E-Tran. SBA features include:
Leverage a complete end-to-end system for SBA loan processing with intuitive step-by-step workflows for automatic routing of applications.
Streamline loan processing with an intuitive SBA loan interface with applicable built-in SBA workflow rules.
Reduce duplicative data entry by submitting the loan application directly to the SBA using the E-Tran integration.
Accelerate Document Generation and Management
All documentation and forms are stored within nCino, allowing FIs to package the loan and its related documents quickly and conveniently, improving operational efficiency and eliminating manual re-keying of application data
Generate SBA 7(a) closing documents through document prep integrations.
Create and map the SBA Loan Authorization and SBA Express Loan Authorization forms.
Leverage nCino’s Document Manager, a configurable, integrated document repository providing instant, secure and digital access to any form within nCino.
Provide clients with a streamlined document and closing experience through digital channels and e-signature capabilities.
Submit the application directly to the SBA via an integration to E-Tran.
nCino not only allows us to react quickly to customers' needs, but also helps us maintain transparency so that we are able to efficiently manage priorities as the current situation continues to evolve
Brad Turner
EVP and Chief Credit Officer, Coastal States Bank
Commercial Loan Origination System
Equip your institution with a streamlined application and origination process to accelerate revenue growth, improve operational efficiency, effectively manage risk, and deliver exceptional customer experiences with our Commercial Loan Origination System.
4 Steps to Prepare Your Financial Institution for Dodd-Frank 1071
Dodd-Frank 1071’s final rule, issued on March 30th, 2023, one day before the critical amendment to the Equal Credit Opportunity Act (ECOA) was anticipated to be finalized, is a game-changer for small business lenders.The rule mandates that financial institutions report certain lending data points for small business lending, including demographic data on women-owned, minority-owned and LGBTQI+-owned small businesses. This data will be used by the Consumer Financial Protection Bureau (CFPB) to enforce fair lending laws and to identify community needs and access to credit. The data collected under the rule will also be used to develop new programs and initiatives to support small businesses.
When a financial institution (FI) is required to collect and report the required data is dependent upon the number of small business loans originated during 2022 and 2023. The earliest date an FI is required to begin collecting data is October, 1, 2024 (2,500 originations) with time extensions to April 1, 2025 (100 or 500 to 2,500 originations) or January 1, 2026 (at least 100 originations), depending on circumstances.
The rule is a complex one, and FIs will need to take steps to comply with it. As your FI prepares to conform to the new requirements, here are some actions to consider.
See How nCino Assists Institutions with their Modernization Journeys
Over the last decade, nCino has supported thousands of institutions with implementation projects through a phased, project-based approach. From this experience, we’ve identified best practices to ensure financial institutions undergo a successful transformation that eliminates inefficiencies, improves strengths, maximizes productivity, and builds a competitive advantage.
