What is one of the key uses for compliance records in nCino?

In the context of nCino, compliance records play a crucial role in creating reports and notifications. This functionality is fundamental for financial institutions, as it ensures that they comply with regulatory requirements and internal policies. Compliance records serve as a source of truth for tracking adherence to various laws and regulations, enabling organizations to generate comprehensive reports that can be submitted to regulatory bodies or used for internal auditing purposes.

In addition, these records help in setting up notifications for parties involved in processes that pertain to compliance, such as loan origination or modifications. By ensuring that relevant stakeholders are alerted about compliance-related activities, institutions can respond in a timely manner to any compliance issues or requirements, thereby minimizing risks and enhancing operational efficiency.

The other options, while relevant to the broader context of loan management and customer interaction, do not align with the primary function of compliance records as integral to regulatory adherence and information dissemination within nCino’s ecosystem.