WSFS Bank Chooses nCino to Foster Additional Loan Growth

WSFS Bank Chooses nCino to Foster Additional Loan Growth
25.10.2016 01:45 pm

WSFS Bank Chooses nCino to Foster Additional Loan Growth

Banking , Cloud

nCino, the worldwide leader in cloud banking, announced today that WSFS Bank has selected its Bank Operating System to more cost effectively grow the institution’s commercial and small business lending portfolio.

WSFS Bank is the oldest and largest bank and trust company headquartered in Delaware and the Delaware valley, with a rich history of supporting area businesses. Over the past four years, it has grown its small business lending division by 100 percent through organic growth, as well as acquisition. The bank realized that maintaining consistent growth and high performance measured by ROA would require more effective use of technology. WSFS Bank determined that nCino would increase efficiencies across the institution while reducing loan onboarding and servicing costs, ultimately growing its loan book another 30 percent without adding to back office personnel. nCino’s Bank Operating System provides WSFS Bank with a secure, cloud-based platform that combines loan origination with customer relationship management (CRM), business process management and reporting all within a single, central place.

“Today’s business borrower expects speed and values surety of execution,” said Glenn Kocher, Senior Vice President and Director of Small Business Banking for WSFS Bank. “With the automation afforded by nCino’s Bank Operating System we anticipate same-day approvals for small business loans. In addition, the platform’s evolving feature functionality supports current and future initiatives, such as online application and mobile lending, so that we can better serve our customers’ needs and enhance their overall experience.”

Kocher added that nCino’s roots in commercial and small business lending, as well as references from existing nCino customers, helped validate the bank’s decision. nCino’s Bank Operating System will help WSFS Bank scale for further growth, employing automation to eliminate duplication of work and expedite loan processing. At the same time, the institution gains greater transparency and collaboration throughout its lending operations.

Josh Glover, EVP of Community and Regional Sales at nCino, explained, “Institutions like WSFS Bank must find ways to foster their growth while maintaining an exceptional customer experience. We’re excited to partner with WSFS Bank at a time when its business is expanding, so that we may help strengthen current processes and introduce additional customer touchpoints. This financial institution understands how innovative technology can support the connection between cost efficiency with growth and service.”

Related News

Al Ain Finance selects Temenos SaaS to remotely deploy corporate banking solution during Covid-19

Temenos (SIX: TEMN), the banking software company today announced that Al Ain Finance will rapidly deploy Temenos Infinity and Temenos... Read more »

New digital-first bank – Monument – coming to the UK, to meet the needs of professionals, property investors and entrepreneurs

Monument reveals that it is in the latter stages of its application for a banking licence.  Monument plans to launch the bank of choice for the overlooked and underserved... Read more »

Royal Bank of Scotland (RBS) Leverages Mphasis’ Testing Centre of Excellence to Support Business Alignment Objectives

Mphasis (BSE: 526299; NSE: MPHASIS), an Information Technology (IT) solutions provider specialising in ... Read more »

OpenPayd unveils crypto banking and payments proposition amid unprecedented sector growth

OpenPayd, the API-led Banking-as-a-Service provider, today unveils its banking and payments solution for... Read more »

CaixaBank to enable non-residents to open an account and apply for a mortgage online

CaixaBank, Spain’s leading retail bank headed by chairman Jordi Gual and chief executive officer Gonzalo Gortázar, has become the country’s first bank to... Read more »

Paymentology eyes the Middle East as competition to attract digital-ready customers grows

UK cloud-based payment processor, Paymentology announces the expansion of its Middle East operation to meet the projected growth of digital banking in the... Read more »

Free Newsletter Sign-up
+44 (0) 208 819 32 53 +44 (0) 173 261 71 47
Download Our Mobile App
Financial It Youtube channel