What is the purpose of 'contacts' in nCino?

In nCino, the primary purpose of 'contacts' is to store individual personal information. This data typically includes essential details about individuals associated with a business relationship, such as clients, prospects, and other stakeholders. This information helps financial institutions and organizations understand and manage their interactions with these individuals effectively.

The contact records are crucial for building and nurturing relationships, which directly contribute to business development and customer service efforts. By maintaining accurate and comprehensive personal data, organizations can tailor their offerings and communications, ensuring they meet the specific needs and preferences of their clients.

Understanding individual personal information is also essential for compliance and regulatory requirements, as it allows businesses to maintain proper records and conduct due diligence as needed. This functionality plays a vital role in enhancing customer experience and streamlining various processes within the nCino platform.