The Before and After of Commercial Account Opening with nCino
Opening a commercial bank account is a significant decision for any business. All businesses are unique entities with operational requirements, product needs, and shareholder arrangements, and the choice of a bank as a business partner is often a relationship-driven decision.
That’s why nCino Commercial Onboarding and Account Opening empowers banks to maintain close relationships with business clients while ensuring a smooth back-end process.
In a traditional landscape, commercial bankers meet new customers who agree to open an account at the bank. When the banker requests the required documents from the customer, a back-and-forth email chain is sparked. With the opportunity for typos, missing documents, and other mistakes, it can take several weeks to collect all the correct documents and required signatures. Including time for all the documents to be processed, commercial account opening can take weeks, if not months—not a great way to kick off a new relationship!
With nCino Commercial Onboarding and Account Opening, this typically tedious process is streamlined into an efficient, user-friendly experience. Commercial bankers share the bank's branded portal, powered by nCino, for the customers to begin their application. They can upload all necessary documents directly into the portal, which immediately verifies them for accuracy and completion. An alert system ensures any missing or incorrect documents are immediately flagged and resolved immediately.
nCino’s revolutionary product enables customers to open an account within days, sometimes minutes—a great start to a new relationship!
When it comes to commercial account opening, everyone wants to get to business as fast as possible. With nCino Commercial Onboarding and Account Opening, businesses can access their accounts quickly and easily, and bankers can build their relationships on the solid foundation of a seamless account opening experience.
Ready to transform your commercial account opening process? Download our comprehensive infographic for a closer look at the before and after of commercial banking with nCino.
Artificial Intelligence (AI) is not the new frontier; it is here and now. The question we should be asking is not whether banks should adopt AI technologies, but rather how and where the banking sector, particularly regional and community banks, should start implementing it.
With the rapid evolution of technology and increasing regulatory demands, financial institutions (FIs) face the dual task of enhancing operational efficiency while mitigating risks.
How do you choose when to buy a solution and when to build your own in house?
For commercial banking, there’s key differences between online account opening and digital account opening.
Thanks to the advances in artificial intelligence (AI) and machine learning, the future of the lending industry is undergoing a major transformation. AI is enabling lenders and financial institutions to automate processes, reduce costs, improve customer experience, and manage risks more effectively. AI can also help lenders offer more personalized and tailored products and services to their customers, based on their preferences, behavior, and creditworthiness.
