What happens when a loan is rejected in nCino?

When a loan is rejected in nCino, notifications are sent immediately. This is crucial for maintaining effective communication between the bank and the borrower, as timely notifications help the borrower understand the decision regarding their application without unnecessary delays. Immediate notifications allow clients to make informed decisions about their next steps, whether that involves seeking clarification, addressing any issues that may have led to the rejection, or exploring alternative financing options.

Moreover, prompt communication aligns with best practices in customer service, ensuring borrowers are not left in uncertainty about their application status. This immediacy can significantly enhance customer satisfaction, even in cases of rejection, as it demonstrates the bank's commitment to transparency and responsiveness in its operations.