Platinum Bank Quickly Deploys the nCino Bank Operating System® to Streamline Business Lending
February 09 2021 - 7:30AM
nCino, Inc. (NASDAQ: NCNO), 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:
- Provided with a fast deployment plan to help accelerate full
user and feature adoption;
- Given the flexibility to implement additional features and
expand the platform over time;
- Provided the most critical nCino features up front to help
realize immediate business value; and
- 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.”
About nCinonCino (NASDAQ: NCNO) is
the worldwide leader in cloud banking. The nCino Bank Operating
System® empowers financial institutions with scalable
technology to help them achieve revenue growth, greater efficiency,
cost savings and regulatory compliance. In a digital-first world,
nCino's single digital platform enhances the employee and client
experience to enable financial institutions to more effectively
onboard new clients, make loans and manage the entire loan life
cycle, and open deposit and other accounts across
lines of business and channels. Transforming how financial
institutions operate through innovation, reputation and speed,
nCino works with more than 1,200 financial institutions globally,
whose assets range in size from $30 million to more than $2
trillion. For more information, visit: www.ncino.com.
About Platinum BankFounded in
2007, Platinum Bank is a premiere Twin Cities business bank
headquartered in Oakdale, Minnesota. The bank has total assets of
$425 million and serves clients throughout the Minneapolis-St. Paul
Metro and Western Wisconsin. Platinum Bank is an SBA Preferred
Lender and offers commercial products including lines of credit,
construction loans, real estate financing, and equipment finance.
For more information, visit: www.platinumbankmn.com.
MEDIA CONTACTS |
Claire
Sandstrom, nCino+1 646.520.0710csandstrom@mww.com |
Natalia Moose,
nCino+1 910.248.4602natalia.moose@ncino.com |
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(available on our web site at www.ncino.com or the SEC's web site
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