M&T Bank Expands Use of nCino with Adoption of Continuous Credit Monitoring Solution Powered by Rich Data Co’s Explainable AI Platform
nCino’s Continuous Credit Monitoring Solution will help assess credit risks and monitor loan performance
Discover Continuous Credit Monitoring
Experience the revolution in credit risk management with nCino’s Continuous Credit Monitoring solution, powered by nIQ. Switch from a reactive to a proactive model that enhances efficiency through intelligent automation across the entire credit lifecycle.
Unleash Operational Efficiency
nCino empowers financial institutions to efficiently manage credit portfolios and easily integrate data-driven strategies. Benefit from the operational flexibility provided by real-time, actionable insights from a unified Cloud Banking Platform.
Overcome Legacy Constraints
Do away with the restrictions of legacy and disparate technology that hinders real-time, proactive risk identification. Continuous Credit Monitoring replaces subjective analysis with intelligent, automated workflows and data-driven decisions.
Review Early Warning Indicators
Utilize Risk Ratings to measure creditworthiness
Quickly access Lead Limits to manage credit exposure
Automated Approvals, Reviews, and Renewals
30%
of risk management is spent on manual data collection.
-PwC
Up to 30%
of credit losses can be reduced by automating risk monitoring tasks.
-McKinsey
Up to 20%
of reporting costs could be saved by automating and unifying data architecture and management.
-McKinsey
By adopting nCino’s Continuous Credit Monitoring Solution, we are further enhancing our ability to manage credit risk through the automation of early warning indicators.
Sarah Hudak
Director of Credit Product Delivery, M&T Bank
Dive Deeper into Credit Monitoring
Why Explainable AI is the Future of Lending
The introduction of Apple’s transformative product in 2007 was a moment that changed the future. Like the now iconic iPhone, the launch of generative AI tools like ChatGPT and Google Bard have captured the public’s imagination, launching an explosion of applications and experiments across nearly every industry, from business and commerce, to art and government.
For many of these use cases, the “how” behind the AI model isn’t particularly relevant. If you ask ChatGPT to compose a wedding invitation in the form of a Shakespearean sonnet, you don’t necessarily need to understand how AI can instantly conjure the right rhyme scheme.
A wedding invitation is one thing; a financial institution’s credit lending decision is quite another. When it comes to such high stakes decisions, understanding the inner workings of the model is vitally important—even required. For those use cases, explainable AI is the solution.
nCino Expands nCino IQ Offerings Through Partnership with Rich Data Co.
Partnership with AI decisioning platform to provide deeper insight and more confident lending through a single platform.WILMINGTON, N.C., February 7, 2023 — nCino, Inc. (NASDAQ: NCNO), a pioneer in cloud banking and digital transformation solutions for the global financial services industry, today announced a value-added reseller agreement with Rich Data Co (RDC), an industry leading artificial intelligence (AI) decisioning platform, to enhance the lending process for its customers. The combined value delivered by this partnership will equip financial institutions with deeper insights into their clients’ business and improve, streamline and further automate workflow and monitoring, creating significant value and efficiencies in small business and commercial lending.
nCino will integrate RDC’s decisioning capabilities into the nCino Bank Operating System® to enhance nCino’s Commercial Banking and Small Business Banking solutions with ground-breaking AI and machine learning techniques. This will simplify the traditional credit technology landscape and empower transparent and explainable decision-making driving revenue and efficiency for nCino’s customers. The partnership with RDC will expand the use cases for nCino IQ (nIQ®), which leverages intelligence and machine learning to transform data into information and actionable insights, empowering financial institutions to focus on key-value add activities and make better business decisions.
“The combination of AI, data and digital customer experience enables banks to more efficiently, accurately and holistically assess the health of a customer’s business, enabling lenders to have better visibility and control of their existing and new credit for the entire business lending portfolio,” said Gordon Campbell, Chief Product Officer at RDC.
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