Texas Farm Credit Deploys Wilmington-based nCino’s Bank Operating System

9/27/20

By Laura Brummett, NC Biz News

nCino, Inc., the cloud-based software-as-a-service company used by banks, said on Thursday that Texas Farm Credit is using its Bank Operating System to digitize its rural property lending practices.

Texas Farm Credit, a rural lending cooperative headquartered in Robstown, Texas, makes rural loans and finances agricultural production across 100 counties.

The cooperative’s employees previously used nine separate systems to close a single loan. Now, they can use a single cloud-based platform through nCino, improving transparency, automating processes and streamlining member onboarding.

“We partnered with nCino to meet the needs of a rapidly changing industry and diverse borrower base, while also repositioning ourselves in an aggressive lending environment,” Texas Farm Credit CEO Mark Miller said in the release. “We trust that this relationship will continue to evolve as we accelerate our transformation to meet the credit and financial needs of farmers and ranchers across the country.”

The cooperative initially went live on nCino’s Commercial Banking Solution, Customer Portal and Online Applications features in February.

Despite challenges associated with the COVID-19 pandemic, the number and volume of transactions completed has been “unmatched,” according to the press release said. nCino helped the cooperative close a record $400 million in loans year-to-date, the most in its history.

“In today’s landscape, the adoption of high-tech banking capabilities is more crucial than ever and we are excited to have Texas Farm Credit utilizing the nCino Bank Operating System to better serve and manage their agriculture relationships by removing friction from the lending process and creating new opportunities for digital engagement,” Josh Glover, chief revenue officer at nCino, said.

Shares of nCino (NCNO) were last trading up 2.4 percent, or $1.89, near $80.69 on Friday.

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