In a strategic bank-fintech partnership move towards modernizing its banking operations and enhancing customer service, Michigan-based Honor Bank has joined forces with nCino, a dynamic North Carolina-headquartered software company specializing in cloud banking solutions. The partnership has allowed Honor Bank to go live on nCino’s innovative business banking platform, marking a significant step forward for the century-old institution.
Founded in 1917, Honor Bank has a rich history of serving individuals and businesses in northwest Michigan, providing a wide array of financial services including checking and savings accounts, investment services, credit cards, loans, and mortgages. However, as the banking landscape evolves in the digital age, Honor Bank recognized the importance of upgrading its technology stack to remain competitive and meet the evolving needs of its customers.
The transition to nCino‘s cloud-based commercial banking platform aligns with Honor Bank’s commitment to becoming more customer-centric. Since implementing nCino’s solution, the bank has experienced streamlined operations, improved customer experiences, and a strengthened competitive position in the region.
One notable achievement of this partnership is the impressive speed of implementation. Honor Bank was able to go live on nCino’s platform within just six months, a remarkable feat that underscores the agility and efficiency of nCino’s solutions. This rapid deployment allowed Honor Bank to quickly adapt to the evolving financial landscape and provide its customers with cutting-edge banking services.
nCino, established in 2011, operates a Software-as-a-Service (SaaS) cloud banking platform and boasts a global clientele of over 1,850 financial institutions. The company provides tools and services that facilitate client onboarding, loan origination, loan lifecycle management, and account opening.
The collaboration between Honor Bank and nCino signifies a significant step towards the digital transformation of traditional banking institutions, ensuring that they remain relevant, customer-focused, and competitive in today’s fast-paced financial world.
To know more about other trending usecases in the US financial services industry, like Generative AI, Open Banking, Buy Now Pay Later (BNPL), explore our other insights.
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