nCino has updated its cloud-based software for the financial services industry.
The newly launched version of the product includes improvements to its branch management, credit underwriting, risk review and relationship statistics systems, the Wilmington, N.C.-based nCino said Thursday. The product now lets customers underwrite loans entirely within the nCino system, develop spreadsheets and other statements and retrieve statistics for individual branches.
The company is rolling out its upgraded Bank Operating System, named "Pinehurst," to existing customers and will include it in new customers' systems. nCino markets the system primarily to small and mid-sized financial institutions.
The software is designed to reduce the compliance and regulatory loads on bank's loan officers, whose responsibilities increase with increased regulations, Pierre Naudé, chief executive officer of nCino, said in the news release. "That is where the Bank Operating System and nCino provide true and continued value to a financial institution, as evidenced by the continual enhancement of our core products and the introduction of new features," he said.