Navy Federal Credit Union has selected nCino’s Bank Operating System to streamline processes and optimise systems.

The cloud-based digital platform will replace the credit union’s multiple disparate systems and optimise the lending process for its employees and members. The lender has over seven million members and 300 branches globally.

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Using nCino’s digital platform, the employees of credit union will be able to fulfil business loans with even more productivity, speed and accuracy from application to funding.

The platform will arm the credit union’s staffs with a digital platform that can fulfil business loans with even more productivity, speed and accuracy from application to funding.

It will also provide a clearer view of member relationships to better identify their needs, the technology vendor said.

Additionally, nCino’s member-facing portal will enable Navy Federal borrowers to apply for business membership and business loans. Members can track the status of their loan or application in real time.

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Also, the platform’s document management system will allow all departments besides its members, to interact and contribute to the required documentation, even after the loan is booked.

Navy Federal Credit Union senior vice president of consumer and business lending Dave Ledwell said: “We consider our members – men and women serving in the military, veterans and their families – to be some of the best borrowers of any financial institution.

“With nCino, our employees can service members with key insights gained on the digital banking platform. We want to provide an experience that is quick, effortless and enjoyable, and we see nCino as being the tool to provide those things and more.”

nCino’s Bank Operating System will be deployed by West Monroe Partners across Navy Federal’s user base.