BankNewport Enhances Consumer Banking Experience with nCino
BankNewport Transforms Banking with Innovative Solutions
WILMINGTON, N.C. — nCino, Inc. (NASDAQ: NCNO), a pioneer in intelligent banking solutions, is excited to share that BankNewport has successfully launched on the nCino Platform. This move marks a significant stride in enhancing consumer banking experiences. By adopting nCino, the Rhode Island community bank has initiated multiple solutions, including Commercial Lending, Marine Lending, Deposit Account Opening (DAO), and Portfolio Analytics, all integrated into a single platform.
Streamlining Deposit Account Opening
Recognizing the potential of technology to improve efficiency, BankNewport expanded the use of the nCino platform to streamline its deposit account opening processes. Within only three weeks of introducing the DAO, the bank experienced a remarkable reduction in the time required to open accounts, with some instances demonstrating up to a ninety percent acceleration.
Enhancing In-Branch Experience
BankNewport noted that the total time spent in branches by consumers for deposit account openings has significantly decreased. Early integration efforts into Business DAO resulted in accounts being opened and funded quickly, with some transactions completed in approximately fifteen minutes without needing assistance. This efficiency not only enhances customer satisfaction but also allows bank staff to focus on building meaningful relationships with clients.
Positive Outcomes and Future Plans
John Sullivan, Executive Vice President and Chief Information Officer at BankNewport, expressed enthusiasm for the positive transformations brought about by the nCino platform. “The nCino platform has really allowed our bankers to focus on what they’re best at: building relationships that empower a more convenient and valuable experience for our customers,” he stated. BankNewport is looking forward to applying similar efficiency gains to their Business DAO initiatives, enhancing experiences for local businesses.
BankNewport’s Commitment to Personal Service
As one of the longest-established community banks in the U.S., BankNewport is known for its dedication to keeping banking personal. This philosophy drives their aim to ensure customers receive the support they need to achieve financial goals. The ongoing partnership with nCino demonstrates their commitment to integrating cutting-edge technology into their operations, ultimately enhancing customer experiences.
Feedback from nCino Leadership
Will Cameron, Senior Vice President of U.S. Financial Institutions at nCino, highlighted the importance of their solutions in empowering local banks. “It’s extremely rewarding to see how BankNewport is utilizing our DAO functionality to give so much of the time typically spent on manual account opening back to their customers and bankers,” he remarked. nCino remains proud to support BankNewport in optimizing and transforming their banking services for the communities they serve.
About nCino
nCino (NASDAQ: NCNO) is at the forefront of cloud banking innovation. Their software-as-a-service (SaaS) platform facilitates financial institutions in modernizing operations, client onboarding, loan management, and account opening. Partnering with over 1,800 financial service providers worldwide, nCino continues to redefine how these entities operate in today’s fast-paced financial landscape.
About BankNewport
Founded in 1819, BankNewport provides a comprehensive array of loan and deposit products for families and businesses throughout Rhode Island. Their long-standing reputation as a community bank, combined with a commitment to customer service and innovative technology, positions them as a trusted financial partner in the region. With nineteen branches and dedicated lending services, BankNewport supports various client needs, including marine and recreational vehicle financing.
Frequently Asked Questions
What significant improvements has BankNewport achieved with nCino?
BankNewport reduced deposit account opening times by as much as ninety percent, significantly enhancing customer experience.
How does nCino assist financial institutions?
nCino provides integrated solutions that modernize operations and improve customer engagement, enabling banks to streamline various services.
What is the impact of the DAO on customer service?
The DAO functionality allows for faster account openings, reducing wait times significantly and allowing staff to focus on personal interactions.
What notable quotes were shared by BankNewport executives?
Executives highlighted the importance of the nCino platform in enhancing their relationship-building efforts with customers for a better banking experience.
How long has BankNewport been in operation?
BankNewport was established in 1819, making it one of the longest-standing community banks in the United States.
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