Reducing data entry time by 500% with customized LOS solution and redesigned, efficient processes

Our Impact

Similar to other agricultural credit associations in the Farm Credit System, our ag lender client is part of a co-op that leverages shared technology and application services among association members. Their custom loan origination system was nearing the end of its shelf-life and required an upgrade. The lender and the other association members agreed to move to Salesforce and nCino out of a shared desire to shift to a SaaS environment and to gain important functionality like real-time dashboards and workflow visibility.

West Monroe partnered with the co-op technology provider and their associations to build a baseline accelerator system that would provide common functionality. The goal was to then implement, tailor and iterate the new system to meet the unique needs of each association and their customers. West Monroe was able to get these associations live on the new platform quickly and efficiently.

Starting with this particular lender, we:

• Developed a customized nCino LOS solution
• Redesigned processes to achieve new efficiencies and maximize new tech
• Reimagined associate roles to perform higher-value tasks
• Used communication, training, and change management to accelerate adoption and benefits

The Challenge

After selecting nCino’s loan origination system, the agricultural co-op wanted to tailor the system to provide a shared functionality to all participants while also allowing customization that would meet the unique needs of each association and their customers. West Monroe guided the system design to address these different sets of requirements. In order to maximize the benefit of the new system, the association also requested the following:

• Modify job roles and creating new roles based on technology capabilities
• Improve business processes
• Ensure rapid associate adoption

However, truly making a shift to an SaaS environment and enhance efficiency requires more than just new technology. This would be a significant change for employees – and it would come with numerous organizational changes. Training and communication would need to combat “change fatigue,” and provide support along the way to maintain momentum and ensure each user saw the value.

An Undeniably Different Approach

This is the type of challenge West Monroe is uniquely qualified to tackle. We rapidly mobilized a multidisciplinary team across lending operations, technology, customer/employee experience, and organizational change management.

To design and implement the nCino system, our team employed Intellio® assets and accelerators – proprietary tools that we use to deliver the benefits of new technology faster. However, we know to truly be digital requires more than simply getting new technology up and running, so we paid just as much attention to the human side of the equation.

After partnering with association leaders to define the project’s vision and goals, we worked to determine how to bring those goals to fruition and redesigned processes together. We reimagined how people would perform their roles with new technology and then used that insight to design training. We partnered with the client’s change management and learning & development teams to pair our nCino expertise with internal knowledge of the culture and the best ways to engage and interact with system users. We formed and mobilized a network of change champions. And we employed existing and trusted communication channels to reach employees and leaders at the right times.

Key project milestones included:

• Determining vision and goals for the nCino loan origination system
• Designing, developing, and implementing the LOS solution, customized to the association’s needs
• Identifying key performance indicators for measuring adoption and other goals
• Creating training that equips associates to perform specific roles using the new technology
• Developing and supporting a change management plan

Real Results

The solution is delivering on the client’s goals to improve ease of use. For example, it has reduced manual entry in favor of more streamlined, automated processes.

The association has improved its ability to report loan performance, collateral, risk profile, and other characteristics. Previously, this reporting required compiling information from multiple Excel reports.

The efficiency gains don’t stop there. The solution reduces the need for manual entry – a key pain point identified during up-front planning. For example, by incorporating robotics process automation (RPA), the bank can now transfer data from a spreading tool to the loan origination system in just 5 to 10 seconds per loan – down from 20 to 30 minutes per loan – which translates to a better employee and customer experience.

Finally, integrating the loan origination system with Salesforce CRM provides associates with a more complete picture of their customers, a capability that enhances cross-selling and collaboration across lines of business and simplifies training.