COMMERCIAL LENDING GOES HIGH-TECH: A Case Study

With no physical branch structure sans its Wilmington, NC, headquarters, Live Oak Bank is not your typical community bank -- at least not by today's expectations. The $475 million bank has taken the concept of banker mobility to new levels of reality. In putting its business loan strategy into...

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Bibliographic Details
Published inBank News Vol. 114; no. 10; p. 18
Main Author Underwood, Neil
Format Trade Publication Article
LanguageEnglish
Published Minneapolis NFR Communications Inc 01.10.2014
Subjects
Automation
Case studies
Cloud computing
Commercial credit
Community banks
Customer relationship management
Decision making
Employees
Financial institutions
Loan originations
Operating systems
Small business loans
United States > US
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Summary:With no physical branch structure sans its Wilmington, NC, headquarters, Live Oak Bank is not your typical community bank -- at least not by today's expectations. The $475 million bank has taken the concept of banker mobility to new levels of reality. In putting its business loan strategy into practice, the bank sought out a sound loan origination system that would enable effective communication and awareness into specific loans and the portfolio as a whole. When failing to find a system to do what Live Oak needed, the nCino Bank Operating System was born of necessity and fine-tuned in a real-bank environment. Cloud-based, it fuses loan origination, customer relationship management, business process management, intelligence and reporting to centralize awareness of lending performance. Since deployment of the nCino Bank Operating System, Live Oak has risen to the rank of third-largest originator of SBA loans in the US.
ISSN:0005-5123