Great Southern moves to cloud-based OS

Great Southern Bancorp Inc. (Nasdaq: GSBC) moved its operating system to the cloud. The Springfield-based bank with $4.4 billion in assets now uses Wilmington, North Carolina-based nCino’s Bank Operating System for its commercial loan process, according to a news release.

With more than 100 offices, Great Southern Bank expects to reduce its current number of software point solutions to make the commercial loan process more efficient by streamlining the loan process from beginning to end. NCino’s Bank Operating System is built on its Salesforce.com product, which combines customer relationship management, loan origination, workflow, content management, business process management and instant reporting.

“As we continued to open new offices and bring in other institutions, we found our commercial loan portfolio concurrently growing; in fact, last year, the bank experienced the largest commercial loan growth year in its history,” said Director of Loan Operations Ryan Storey, in the release. “By leveraging nCino, we’ll be able to keep up with and support this new business by automating the loan process, allowing us to close loans more quickly and with more accuracy than before.

According to the release, Great Southern Bank will work to reduce workflow inefficiencies such as duplicate data entry with nCino. While the bank currently inputs some data fields four or five times, it expects to reduce this down to a single entry with nCino’s platform. Through these efficiency enhancements, coupled with a broader view of the entire portfolio, Great Southern plans to speed up closing times, reduce the risk of manual errors and boost overall data accountability and management, according to the release.

Great Southern Bank has more than 1,260 employees serving 180,000 households across nine states. The bank reported first-quarter net income of $11.5 million, a nearly 18 percent increase from a year earlier.

GSBC shares closed June 6 at $49.85, compared with a 52-week range of $34.48 to $56.70.


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