TD Bank this week became the largest financial institution to adopt nCino’s Bank Operating System digital lending platform.

The $312 billion-asset bank announced Tuesday that it will use the technology across its corporate and commercial lending divisions as part of a digital transformation.

The first wave of TD Bank users, within the Toronto bank’s equipment finance business, has been live on the new system since the middle of 2017. The rest of the corporate, commercial and business banking teams is expected to adopt the platform by the end of the year, said Jason Thacker, head of U.S. deposits and consumer payments at TD Bank.

TD Bank signage
Bloomberg News

“We believe this will allow us to serve our customers better with quicker decisioning; speed to market is a big benefit,” Thacker said.

NCino’s Bank Operating System is built on the Salesforce platform and integrated with Salesforce Financial Services Cloud.

It combines customer relationship management, loan origination, account opening, workflow, content management, business process management, customer engagement and instant reporting in a centralized location. Thacker said this will allow TD Bank's sales, underwriting and credit risk management teams to be able to collaborate more easily on deals and gain greater insights into the bank's commercial lending portfolio.

“Being able to leverage nCino and Salesforce together will allow our relationship managers to have a better understanding of where a loan is anywhere in the cycle and use that information to respond quickly to customers,” Thacker said.

Many banks are investing in technology to improve the digital offerings and efficiency of their lending operations.

“I think a lot of banks are cognizant that customer expectations have changed" when it comes to lending, said Josh Glover, nCino's executive vice president of sales for the Americas. “Not only that, but there is a fierce competition for to attract and retain talent, and employees want to work with cutting-edge software.”

In January, nCino announced an undisclosed funding round led by Salesforce Ventures aimed at further fueling the company’s global growth initiatives as well as accelerating the development of its Bank Operating System.

Bryan Yurcan

Bryan Yurcan

Bryan Yurcan is a senior writer with American Banker, with a focus on financial technology.