nCino Team
We’ve covered nCino in depth over the past year from optimizing nCino implementation, recruiting top nCino talent, and effective strategies for finding and retaining nCino professionals. For now, let’s deep dive into what the market is looking like as we move towards 2025.
The Impact of Federal Reserve Decisions on nCino Projects
The Federal Reserve's cautious approach to interest rate cuts has influenced the nCino talent market and demand in the first half of 2024. Many community and regional banks that the Empiric team has been working with are hesitant to invest in nCino commercial projects, primarily due to concerns about immediate ROI in the short term.
But here's the thing - this cautious stance is not the case across the entire banking sector. As we head into Q4, we’ve noticed a considerable boom in requests for project resources focused on nCino retail and consumer implementations.
This shift shows that banks are starting to see the value nCino brings in enhancing customer experiences and streamlining operations in these critical segments, and with the FED starting to cut rates now, we remain cautiously optimistic that 2025 should bring back a surge in commercial projects.
The Rise of Retail and Consumer nCino Implementations
With customers expecting more from their digital banking experiences, banks are scrambling to stay competitive. That's why we're seeing more and more institutions turn to nCino to modernize their retail and consumer operations.
This is a win for customers as this shift in customer expectations is pushing banks to improve their operational efficiency and consumer-facing tech.
Dodd-Frank 1071 Compliance: A Driving Force for nCino Adoption
Dodd-Frank 1071 regulation requires financial institutions to collect and report data on small business loan applications, and it's a top priority for many lenders right now. With the compliance deadline fast approaching in October 2025, banks are scrambling to find experts who can help them meet new regulatory requirements and in turn we’re seeing growing demand for nCino talent to help banks effectively navigate the shifting landscape.
The most in-demand candidates on our talent bench have a solid grasp of nCino platform configuration and customization, along with experience integrating it with core banking systems. Experience and skills in data migration and management, a deep understanding of regulatory compliance, and a proven track record in project management and implementation set candidates apart in the current market.
Preparing for Future Growth
As we watch for potential interest rate cuts by the Federal Reserve in the coming months and anticipate an improved economic outlook for the remainder of the year, banks are increasingly prioritizing growth and liquidity strategies for 2025.
To achieve their growth objectives, baks are turning to technology solutions like nCino to empower their bankers to open more accounts quickly and efficiently. For commercial onboarding and account opening, the focus is on accelerating the process, enhancing client relationships through improved digital experiences, and ensuring ongoing compliance with evolving regulations like Dodd-Frank.
Seizing Opportunities in the nCino Ecosystem
With positive expectation for growth and expansion as we head into 2025, now's the time to secure top talent and expertise. For nCino technology professionals, the market offers abundant opportunities for career growth and development.
Whether you're a hiring manager looking to build a strong nCino team or a professional seeking new opportunities in this dynamic field, our dedicated team can streamline your hiring process and secure top-tier nCino talent. We offer access to a curated pool of professionals with the specific skills and experience you need, along with expert guidance throughout the recruitment process. Our deep understanding of the nCino talent market ensures we attract the best candidates, saving you valuable time and resources so you can focus on other critical business areas to ensure you’re getting things done.
Learn more about Empiric's nCino capabilities on our dedicated nCino page and be sure to subscribe to our newsletter.
Connect with Kyle, Emma and Jess on LinkedIn.
