Case Study: WaFd Bank


Discover how the cloud-based nCino Bank Operating System® empowered WaFd to achieve a 51% increase in loan volume.

     


    The Challenge

    WaFd Bank looked to replace its ultra-low-cost operating model with a digital-first approach that would:

    • Facilitate the bank’s transformation into a full-fledged commercial bank

    • Enable the bank to scale its commercial lending capabilities

    • Provide real-time insights into the commercial loan origination process

    • Improve the quality of the customer experience


    The Solution

    By implementing the cloud-based nCino platform in March 2020, WaFd further consolidated its transformation into a full-fledged commercial bank and enabled it to better manage the onslaught of commercial loans triggered by the Paycheck Protection Program (PPP).


    The Results

    The nCino platform furthered WaFd’s strategic objectives in multiple ways.

    • WaFd originated 6,500+ PPP loans in the span of four weeks.
    • The bank’s total loan production went from $4.1 billion in new loans in 2019 to $6.2 billion in new loans in 2020 — a 51% increase.
    • Despite the dramatic increase in loan volume, the bank’s net promoter score improved to 51 in 2020, up from 47 in 2019.

     

    “nCino really opened our eyes to what a modern architecture could do and how you could be nimble from an IT perspective.”

    – Brent Beardall, CEO, WaFd Bank

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