Valley National Bank takes commercial lending to the cloud
Valley National Bank, a $23 billion financial institution in New Jersey, is implementing nCino’s Bank Operating System for commercial lending.
nCino’s cloud-based solution is built on Salesforce.com. The vendor says it combines customer relationship management, loan origination, workflow, enterprise content management, business process management and instant reporting on a single platform.
It will provide the bank with “greater transparency” into the loan process, it adds. Employees will gain “a 360-degree view of both individual loans as well as the entire portfolio, enabling them to identify and correct any inefficiencies in real time”. This should also improve communication with customers about the status of their loans.
“Valley National Bank has embarked on a multiyear journey to drive customer centricity, digitise our businesses and leverage data to power decision making,” states Robert Bardusch, EVP and CIO of the bank.
“As we evaluated different solutions in the marketplace, we found a natural fit between our strategy and nCino’s technology.”