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Banking & Finance

NCino Logs New Customer In Georgia

By Jenny Callison, posted Jun 25, 2013

Wilmington-based nCino LLC has added a new client to its growing roster.

On Tuesday, the banking software company announced that Atlanta-based Cornerstone Bank has purchased its Bank Operating System to help the bank increase efficiency and productivity in its growing Small Business Administration (SBA) lending practice.

Cornerstone Bank, according to nCino’s news release, has been one of the fastest-growing SBA-focused community banks in metro Atlanta. The release stated that Cornerstone will use the cloud-based system to streamline credit processes and boost profitability as it continues to expand its lending.

“The customer relationship management features of nCino's platform, together with its innovative loan origination and comprehensive reporting capabilities, will greatly enhance the service our SBA lending team can provide,” Charles Yorke, managing director of Cornerstone's SBA Lending Division, said in the release.

The company’s Bank Operating System was developed by Wilmington-based Live Oak Bank for its own use. After being spun off by Live Oak in the spring of 2012, nCino has logged steady growth. Its Bank Operating System helps users manage customer relationships as well as the SBA lending process, which is complex and requires substantial documentation, said Pierre Naudé, nCino’s CEO, in the news release.

According to nCino spokeswoman Sara Mallory, Cornerstone Bank is nCino’s 19th client and its fourth in Georgia. The company also has four clients in North Carolina, four in Texas, two in Virginia and one each in California, Michigan, New Hampshire, Ohio and Wisconsin.

“The asset size of our customer banks and credit unions ranges from under $100 million to just over $3 billion,” Mallory said in an email.  “Of our 19 customers, nine have assets over $1 billion. The company’s target market is community banks with assets between $300 million and $10 billion and credit unions with assets greater than $200 million."

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