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In the Navy: nCino Brings its Bank Operating System to World’s Largest Credit Union

In the Navy: nCino Brings its Bank Operating System to World’s Largest Credit Union

With more than $87 billion in assets, more than seven million members, and 300 branches, Navy Federal Credit Union is known as the largest credit union in the world. So it is a pretty big deal for the team at nCino to announce that NFCU has selected the North Carolina-based fintech’s Bank Operating System to help support its continued growth.

“With nCino, our employees can service members with key insights gained on the digital banking platform,” SVP for Consumer and Business Lending for NFCU Dave Ledwell explained. “We want to provide an experience that is quick, effortless and enjoyable, and we see nCino as being the tool to provide these things and more.” Ledwell called NFCU’s military-based membership – including veterans and their families – “some of the best borrowers of any financial institution.”

Left to right: Jonathan Rowe (CMO), Trisha Price (EVP, Product Development and Engineering), and Nathan Snell (Head of Innovation and Design) demonstrating nCino’s Bank Operating System at FinovateEurope 2017.

nCino’s platform will enable bank professionals to facilitate the full process of business lending from application to funding faster and more accurately. The technology also gives banks an edge in customer engagement by providing what nCino SVP of Community and Regional Financial Institutions Paul Clarkson called “a clearer view of members’ needs.”

“Rapidly growing and service-oriented institutions like Navy Federal require an innovative solution that enhances the loan process in order to provide the highest levels of convenience and service to its members,” Clarkson said.

Founded in 2012 and headquartered in Wilmington, North Carolina. nCino demonstrated its Bank Operating System at FinovateEurope 2017. Last month, the company announced that Ithaca, New York’s CFCU Community Credit Union ($1 billion in assets) would deploy its Bank Operating System to better serve its 70,000 members.

The firm has raised more than $81 million in funding – most recently a $17 million private equity round in August – and includes Insight Venture Partners among its investors. Named to Deloitte’s 2017 Technology Fast 500 in November, and having earned the top spot in Aite Group’s report on global commercial loan origination in October, nCino has also partnered with Iberiabank of Lafayette, Louisiana, and teamed up with community bank ConnectOne Bank in recent months. Pierre Naudé is CEO.

Watch our interview with nCino Head of Innovation and Design Nathan Snell as he discusses personalization and the customer experience with Finovate research analyst Julie Muhn.