Final answer:
False, the nCino platform does not specifically use a 'Loan Team Member' feature to alert users on loan updates; instead, it allows for configurable workflows and notifications based on institutional settings.
Step-by-step explanation:
False. The nCino Bank Operating System does have features for managing loans, including various notifications, but the specific function of alerting users listed on the Loan Team when a Loan Stage or Loan Status is updated is not tied to a feature called 'Loan Team Member.' Instead, nCino provides configurable workflows and notifications that allow institutions to set up alerts for specific conditions or status changes as per their business rules. These notifications can be sent to users or teams involved in the loan process, but there is not a default 'Loan Team Member' feature responsible for alerts regarding Loan Stage or Loan Status updates.