Navy Federal Credit Union Insures nCino Data with Own

Navy Federal Is the World’s Largest Credit Union

Founded in 1933 with the goal of serving military personnel and DoD members and their families, Navy Federal Credit Union is one of the largest credit unions in the USA. With over 330 locations and 18,000 employees, the Department of Defense is the single sponsor of the credit union.

Financial Services
Vienna, VA
Backup and Recovery
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Navy Federal Is Powered by nCino

nCino is used by Navy Federal’s commercial accounts and lending department to manage credit union and business memberships. Navy Federal relies on nCino as their loan origination system for all commercial lending products. Furthermore, 160+ Navy Federal branches and the Navy Federal contact center supports business members with nCino.

Navy Federal Accelerates SBA Paycheck Protection Program Loan Processing with nCino and Own

On March 27, 2020, the CARES Act officially dedicated roughly $349 billion for the SBA Paycheck Protection Program (PPP) to guarantee small businesses the loans they need to cover eight weeks of payroll, along with some utility and rent costs. 30 million small businesses rushed to their lender’s website to apply for the funds that were intended to prevent many of them from permanently closing their doors this month. That loan money ran out in just 13 days.

Exactly one month later, $310 billion in PPP loans became available in a reopening of funding. The rush of loan applicants and SBA E-Tran technical glitches buried lenders in paperwork that would usually be handled in person by a lot less employees.

Navy Federal Launched a SBA PPP Solution in Four Days with nCino

By working closely with nCino and their own internal developers, Navy Federal was able to build and test their PPP product. Then, in about four days, they rolled it out within their nCino org.

In just one quarter, Navy Federal accumulated a total of 16,000 applications that were in various stages of completeness. nCino helped Navy Federal process over a year’s worth of loan applications in days. Without nCino’s assistance, Navy Federal would have had hundreds of employees process all of these loan applications manually.

Not only did nCino help Navy Federal build out the new PPP loans product, but they also helped them build out the different integrations. Part of the PPP procedures is the integration with E-Tran, the SBA’s portal. The nCino solution helped them get all the manual operation down to just two button clicks.

Navy Federal Innovates Quickly and Confidently with Own

While building and improving their SBA PPP solution, Navy Federal made a lot of changes to their org. Even with testing procedures in place, having Own allowed them to know that they could back out of these changes very quickly if needed. Own gave Navy Federal the peace of mind and confidence to make steps that needed to be taken.

In addition to the backup piece, the ability to seed sandboxes & speed up testing, analysis, and troubleshooting makes Own a solution that allows Navy Federal to do more than just backup all of their instances and documents daily.

Navy Federal Identified and Prepared for nCino Data Loss and Corruption Risk Well Before the 2020 Global Crisis

Before partnering with Own, to protect their critical nCino data, Navy Federal relied on their core servicing systems and system of record to back up their data. For their metadata, Navy Federal refreshed their full sandbox monthly. Navy Federal first became aware of the need for a more comprehensive nCino backup and recovery solution during nCino’s nSight event. At the event, Hayes Harkey, an Enterprise CSM at nCino, recommended they connect with Own to minimize their data loss and corruption risk.

Before implementing Own, Navy Federal had experienced a couple of data loss and corruption incidents that would have been resolved faster with Own.

Navy Federal Partners with Own to Protect nCino Data and Metadata

After a stringent information security and business review process, Navy Federal selected Own to protect their mission-critical nCino data.

Navy Federal is now able to automate daily backups of all data, metadata, and DocMan files.

If a data loss or corruption were to occur, Navy Federal can promptly recover to maintain business continuity.

Own’s Bring Your Own Key (BYOK), Powered by AWS, Builds Additional Protection

Navy Federal selected Own, powered by AWS, because it provided the level of security and compliance it needed to store critical backups.

Also, Navy Federal added an additional layer of security with Own's Bring Your Own Key, a tool that helps generate, rotate, and revoke their master encryption keys. This is an option for customers using Own storage on AWS, enabling Navy Federal to use their own encryption keys for data encryption at the bucket level.

Own enables encryption on an Amazon S3 bucket dedicated to Navy Federal and configures the bucket to use Navy Federal’s key. Keys are created in the credit union’s Amazon Web Service Key Management System (AWS KMS), and then Navy Federal permissions access to the key by Own’s AWS account, which sends the Amazon Resource Name (ARN) to Own. Own then configures a dedicated S3 bucket to retrieve the encryption key from the ARN. Own has no access to the keys at any time, and does not access the key management system directly.

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Own has given us the nCino data protection peace of mind that we needed. It is an elegant disaster recovery tool and so much more. Own will revolutionize how we approach troubleshooting and testing of our nCino instance. Being able to use it as a comparative tool will also help better maintain data operations. Ultimately, it allows us to quickly address problems and continue to focus on our core business of providing excellent service to our members.
Larry Perino
Manager, Program Development Business Solutions at the Navy Federal Credit Union
Financial Services
Backup and Recovery