BankNewport Revolutionizes Banking with Innovative Solutions
WILMINGTON, N.C. — nCino, Inc. (NASDAQ: NCNO), a leader in intelligent banking solutions, is thrilled to announce that BankNewport has officially launched on the nCino Platform. This initiative marks a major step forward in improving consumer banking experiences. By embracing nCino, the Rhode Island community bank has rolled out several solutions, such as Commercial Lending, Marine Lending, Deposit Account Opening (DAO), and Portfolio Analytics, all seamlessly integrated into a single platform.
Simplifying Deposit Account Opening
Understanding the potential of technology to boost efficiency, BankNewport has expanded its use of the nCino platform to enhance the deposit account opening procedure. Just three weeks after the launch of the DAO, the bank saw an impressive drop in the time it takes to open accounts, with some cases showing up to a ninety percent quicker process.
Improving In-Branch Experience
BankNewport observed a significant decline in the time customers spend in branches when opening deposit accounts. Their early efforts to integrate Business DAO have enabled accounts to be opened and funded promptly, with some transactions taking around fifteen minutes and requiring no assistance. This improved efficiency not only boosts customer satisfaction but also allows bank staff to dedicate more time to building strong relationships with clients.
Positive Results and Future Aspirations
John Sullivan, the Executive Vice President and Chief Information Officer at BankNewport, shared his excitement about the positive changes brought 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 remarked. Looking ahead, BankNewport plans to apply similar efficiency improvements to their Business DAO initiatives, aiming to enhance experiences for local businesses.
BankNewport’s Dedication to Personalized Service
As one of the longest-operating community banks in the U.S., BankNewport is well-known for its unwavering commitment to personal banking. This guiding principle drives their mission to provide customers with the support they need to meet their financial goals. Their ongoing partnership with nCino illustrates their dedication to integrating leading-edge technology into their operations, ultimately enriching customer experiences.
Insights from nCino Leadership
Will Cameron, Senior Vice President of U.S. Financial Institutions at nCino, emphasized the vital role their solutions play 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 noted. nCino proudly stands by BankNewport in its efforts to optimize and improve banking services for the communities they serve.
About nCino
nCino (NASDAQ: NCNO) stands at the forefront of innovation in cloud banking. Their software-as-a-service (SaaS) platform helps financial institutions modernize their operations, streamline client onboarding, manage loans, and facilitate account openings. Partnering with over 1,800 financial service providers globally, nCino is redefining how these entities function in today’s fast-evolving financial environment.
About BankNewport
Founded in 1819, BankNewport offers a comprehensive range of loan and deposit products for families and businesses throughout Rhode Island. Their long-standing reputation as a community bank, coupled with a commitment to customer service and innovative technology, positions them as a trusted financial partner in the area. With nineteen branches and specialized lending services, BankNewport meets various client needs, including marine and recreational vehicle financing.
Frequently Asked Questions
What significant improvements has BankNewport achieved with nCino?
BankNewport has cut deposit account opening times by up to ninety percent, greatly improving the overall customer experience.
How does nCino assist financial institutions?
nCino offers integrated solutions that modernize operations and boost customer engagement, allowing banks to streamline several services.
What is the impact of the DAO on customer service?
The DAO functionality speeds up account openings, significantly reducing wait times and letting staff focus more on personal interactions.
What notable quotes were shared by BankNewport executives?
Executives emphasized how the nCino platform enhances their ability to build relationships with customers, resulting in a better banking experience.
How long has BankNewport been in operation?
BankNewport has been serving the community since 1819, making it one of the oldest community banks in the United States.
