Wells Fargo & Company WFC has partnered with nCino, Inc. NCNO in its efforts to boost its digital transformation within its commercial banking and corporate & investment banking businesses. The banking giant will use nCino Bank Operating System to streamline operations digitally.nCino’s single platform extends business lines; offers connectivity between employees, clients, and third parties; and removes silos for financial institutions. Hence, Well Fargo can leverage the platform and enhance its ability to offer a more comprehensive view of clients, collaboration opportunities, generate more loans, and cut costs.Given the complex and ever-changing needs of clients in its commercial lending operations, the adoption of the nCino Bank Operating System will offer Wells Fargo a flexible and speedy digital solution to efficiently manage all facets of the commercial banking lending process. This, in turn, will help in driving greater automation, speed and efficiency across its commercial banking operations.Kyle Hranicky, EVP and head of middle-market banking at Wells Fargo, noted, “Wells Fargo is investing in digital capabilities to improve our clients’ experience and enable our teams to more quickly and effectively serve clients.”With regulatory restrictions and scandals plaguing its growth, Wells Fargo has resorted to other measures to drive its growth momentum. Of late, the company has been shifting its focus to rebuilt capabilities by investing in businesses core to its consumers and the corporate client base, while monetizing stake in less attractive ones. The efforts have started to bear fruits by boosting efficiency, strengthening the balance sheet and leading to significant cost savings.It is focused on reducing its expense base to $53 billion in 2021 by building a more efficient company, with a streamlined organizational structure, closing branches, and reducing headcount by optimizing operations and other back-office teams. Such efforts are likely to support bottom-line growth for the company.With the gradual revival of the economy and the resumption of business activities, the deposit balance is likely to continue improving, particularly in the consumer business and commercial banking segments.However, legal hassles continue to haunt the company. Recently, Bloomberg reported that per people with knowledge of the situation, the Office of the Comptroller of the Currency and the Consumer Financial Protection Bureau have privately indicated that the bank might face new sanctions, ensuing unsatisfactory progress on remedial efforts and fulfilling its obligations related to sales practice scandals.The asset cap constraint is the biggest concern for the company, limiting its ability to offer loans and grow loan balances. Hence, if regulators are unsatisfied with the company’s efforts, the penalty could be here to stay for an extended period. Any additional sanctions could also hurt the bank's prospects.Shares of the company have jumped 76.8% over the past year compared with 57.7% growth recorded by the industry. Image Source: Zacks Investment Research Wells Fargo currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Stocks to ConsiderA few better-ranked stocks from the banking space are mentioned below.First Business Financial Services, Inc.’s FBIZ earnings estimates for the current year have moved up 4% over the past 30 days. At present, it sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.Farmers National Banc Corp’s FMNB earnings estimates for the current year have moved 12.6% upward over the past 30 days. The company currently flaunts a Zacks Rank #1. More Stock News: This Is Bigger than the iPhone! It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 77 billion devices by 2025, creating a $1.3 trillion market. Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 4 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2022.Click here for the 4 trades >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Wells Fargo & Company (WFC): Free Stock Analysis Report First Business Financial Services, Inc. (FBIZ): Free Stock Analysis Report Farmers National Banc Corp. (FMNB): Free Stock Analysis Report nCino, Inc. (NCNO): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research