nCino and Zest AI Create Strategic Partnership to Bring More Efficiency to Financial Services Through AI-Automated Underwriting
nCino today announced a partnership with Zest AI, the leader in automating underwriting with more accurate and inclusive lending insights.
Through this strategic partnership, lenders will leverage artificial intelligence to quickly respond to shifts in market condition and upkeep borrower risk accuracy.
This AI powered underwriting can analyze hundreds of data points in seconds to better determine lending decision outcomes, leading to greater efficiency and accuracy.
WILMINGTON, NC – 23 May 2023 — nCino, Inc. (NASDAQ: NCNO), a pioneer in cloud banking for the global financial services industry, today announced a strategic partnership with Zest AI, the leader in automating underwriting with more accurate and inclusive lending insights, to build an integration into nCino’s Consumer Banking Solution. The integration will enable lenders with streamlined access to cutting-edge consumer credit lending insights to help make efficient, accurate decisions about borrower risk.
“The financial services industry is in a new phase of growth as modern technology becomes more accessible to lenders through partnerships like our own with nCino. The future of lending relies on optimizing how we determine an applicant’s credit risk so lenders can give them a faster decision and move them into the next stage of the banking process,” said Zest AI’s Head of Corporate Development, José Valentín.
“Artificial intelligence has the potential to help financial institutions cross the modernization divide by powering more efficient, automated and personalized experiences,” said Justin Norwood, Vice President – Data and AI at nCino. “We’re excited about this partnership with Zest AI and look forward to bolstering our already best-in-class underwriting technology with intelligence that helps financial institutions utilize data for faster and improved decisions.”
This partnership integration spans three consumer portfolios — auto loans, personal loans and credit cards. Zest AI’s connectivity within nCino’s Consumer Banking Solution allows lenders to choose AI-automated underwriting for their portfolios, enabling efficient lending decisions without needing massive IT modernization projects.
As part of the partnership, nCino previously participated in a funding round supporting Zest AI’s ability to expand access to AI-automated credit underwriting for all lenders as more financial institutions look to adopt AI tools to make better credit decisions.
nCino (NASDAQ: NCNO) is the worldwide leader in cloud banking. Through its single software-as-a-service (SaaS) platform, nCino helps financial institutions serving corporate and commercial, small business, consumer, and mortgage customers modernize and more effectively onboard clients, make loans, manage the loan lifecycle, and open accounts. Transforming how financial institutions operate through innovation, reputation and speed, nCino is partnered with more than 1,850 financial services providers globally. For more information, visit www.ncino.com.
Zest AI is a tech company on a mission to make fair and transparent credit accessible for everyone. Since 2009, we’ve worked with financial institutions to provide AI-driven credit solutions to their borrowers. Today we work with all types of lenders — but especially credit unions — to democratize underwriting automation and equitable credit decisioning. Learn more at zest.ai and connect with us on LinkedIn.
Company's Gen AI tool, powered by nCino IQ (nIQ), delivers real-time intelligence and optimizes decision-making with data-driven insights for financial institutions across asset sizes and geographies
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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.
Rabobank Australia and New Zealand has partnered with nCino to implement its Bank Operating System. This will help RANZ to automate its financial spreading analysis, improve the speed and quality of credit decisions, and free up employees' time to focus on strengthening customer relationships.
