At its inaugural user conference today in Wilmington, nCino unveiled enhancements to its technology to customers, some of whom had  suggested the need for those improvements.

nCino, a spinoff of Live Oak Bank, sells its secure, cloud-based bank operating system to community banks and credit unions. The system was originally developed by Live Oak to better manage its nationwide SBA lending business but subsequently tweaked to be applicable to other institutions.

Improvements to nCino’s bank operating system include a “complete spreading engine and the introduction of the credit memo feature, both of which are configurable to client needs and were developed based on customer feedback and industry best practices,” the company’s news release stated, adding “These new features and enhancements allow institutions to become even more efficient by leveraging the power of the nCino Bank Operating System.”

The improvements are being released to current nCino customers and will be included as part of the standard system for new customers, the release stated. Many of the changes were made as a result of customer suggestions.

“We take a very client-centric development approach, asking our customers what enhancements they would like to see,” said nCino CEO Pierre Naudé.

Naudé said that one of the product enhancements means that client bank personnel would need to enter data only once.

“We get people away from having to enter data multiple times – sometimes as many as 14 times. This enhanced collection of financial data, entered only once, flows through to what we call the credit memo, which is used to approve or disapprove the loan,” Naudé said.

Other enhancements include reorganization of the financial analysis section and tweaks that allow for greater client customization of portions of the bank operating system.

nCino's inaugural user conference, nSight 2013, kicked off with a dinner Wednesday evening and concludes Thursday with a dinner. Attending the event at nCino’s Wilmington headquarters are the young company’s 26 bank and credit union clients as well as company partners and prospective customers, the release stated.

Live Oak Bank spun off nCino as a separate company in early 2012. In September of this year, New Hanover County Board of Commissioners and Wilmington City Council approved an incentives package to support nCino’s expansion and new headquarters facility in Wilmington.