Cloud-Based Operating System Expected To Reduce Closing Turn Time In Half

By Karla Paris

Bank anticipates loan closing turn time to be cut in half with deployment of 360-degree customer management view.

Salt Lake City-based TAB Bank has partnered with nCino, a provider of secure, cloud-based operating solutions to the financial services industry, to deploy nCino’s Bank Operating System. With the deployment, TAB Bank is set to achieve straight-through processing for document workflows and a more holistic view of customer relationships across the bank.

TAB Bank (TAB), formerly Transportation Alliance Bank, was established as an Industrial Loan Corporation (ILC) in 1998. TAB, a wholly-owned subsidiary of FJ Management, Inc., provides working capital facilities, equipment financing, and deposit products to a variety of business sectors while continuing to build on its success within the transportation industry.

nCino's Bank Operating System is designed to function at all organizational levels and across all lines of business, which is something TAB Bank is using to increase its profitability, productivity, and regulatory compliance.

Workflow customization provides accountability and the assurance that regulatory compliance standards are being met at all times. With access controls and workflow alerts in place, TAB is anticipating faster and more accurate loan closings.

The nCino document manager provides a central repository allowing for instant and secure access to any document, anytime, across all lines of business, improving transparency and eliminating TAB’s need for paper files as well as standardized naming conventions.

As a secure cloud-based solution, the nCino Bank Operating System empowers bank employees and leaders with insight into the bank through an end-to-end solution combining CRM, loan origination, workflow, enterprise content management, and instant reporting capabilities. nCino integrates with the bank core and transactional systems, while replacing point solutions and manual based processes. Designed by bankers who understand how banks operate, nCino delivers ROI by driving revenue growth and efficiency, expanding customer relationships, improving regulatory compliance, and enabling data analytics.

SOURCE: Business Wire