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FirstBank Puerto Rico selects nCino to enhance commercial lending services

By Delisha Fernandes

March 21, 2024

  • Cloud Banking
  • Commercial Banking
  • Digital Transformation
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nCino, Salesforce, financial services, cloud banking, financial institutions, risk, loan origination, deposit account opening, portfolio management, Fintech news, Fintech USAFirstBank Puerto Rico, a subsidiary of First BanCorp, has partnered with nCino, a pioneer in cloud banking, to offer a more modern commercial banking experience for its customers in Puerto Rico, Florida and the Virgin Islands.

“FirstBank Puerto Rico is focused on providing their customers with personalized services and innovative solutions designed to improve and simplify their lives,” said Matt Fernandez, Regional Vice President of Enterprise Sales at nCino. “We’re proud to provide the single, end-to-end platform as they continue to improve their services and achieve their mission.”

This project was spurred on by FirstBank Puerto Rico’s digital transformation initiative, which is focused on enhancing the customer experience by providing greater agility and simplicity in its online commercial operations.

The outcome will be a more efficient and customer-centric platform that can centralize data for reporting and portfolio management, accelerate loan cycle times and streamline processes. These innovations will also improve the lending and portfolio management process for FirstBank Puerto Rico’s employees, simplifying the loan cycle and enhancing credit response times.

Juan Carlos Pavía, Executive Vice President and Chief Credit Officer at FirstBank Puerto Rico, said, “Here at FirstBank Puerto Rico, we are driven by technology, but our true motivation will always be serving our customers’ needs. Our strategic partnership with banking technology expert nCino to implement their cloud-based platform is a groundbreaking move that underscores our unwavering commitment to elevating the commercial banking experience in Puerto Rico, Florida and theVirgin Islands. nCino will allow us to shorten our cycle times and significantly improve our portfolio management capabilities. In doing this, we are reaffirming our dedication to innovation and leveraging cutting-edge digital technology to set new standards in customer experience.”

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