5 Key Takeaways from nCino’s EMEA Summit

AI and Machine Learning

In his keynote, Charith Mendis, the Head of Worldwide Banking Industry at AWS, outlined the key uses of AI and Machine Learning in banking transformation. According to Charith, these are five ways AI/ML can improve an FI’s business processes:

• Streamlining Customer Onboarding: When institutions leverage AI/ML to streamline the customer onboarding process, it becomes more efficient and user-friendly.

• Frictionless Customer Interactions: AI/ML can provide customers with a choice of channel and help create a seamless, omnichannel experience.

• Faster Decisions and Better Risk Assessments: When AI/ML is used to automate the credit decisioning process, the risk of error by entering information manually is reduced. In addition, some institutions also use ML for quality assurance.

• Preventing Fraud and Financial Crimes: AI/ML can help prevent fraud and other financial crimes, including money laundering, by identifying trends and reducing false positives.

• Hyper-personalised Offers and Services: With AI/ML, institutions can personalise each customer’s needs to meet them where they are on their journey by identifying and suggesting the products and services that will best serve them.

Tom Byrne, General Manager of EMEA Product, and Anthony Morris, Chief Industry Innovation Officer, took the stage to discuss how nCino is building AI into our foundation. They shared that the near-term focus for nCino is on delivering benefits via AI/ML that will boost efficiency and reduce cost.

Not only is nCino revolutionising AI in the financial industry, we’re doing it by adhering to the five key principles of the European Union Artificial Intelligence Act:

1. Transparency

2. Accountability

3. Human oversight

4. Risk-based approach

5. Non-discriminatory

In this keynote, Thomas Byrne shared that a recent Forbes article found 77% of bankers believe that the ability to unlock the value of AI will be the difference between the success of failure of financial institutions. At nCino, we’re here to help you safely unlock all the possibilities of AI.

Data

Thomas introduced and demonstrated for attendees the nCino Banking Assistant, powered by nIQ. The nCino Banking Assistant is a new tool designed to simplify your work by operationalising data within your organisation and delivering insights and intelligence.

The nCino Data Community is what makes the nCino Banking Assistant so powerful. When you trust nCino with data, we’re able to leverage that data to revolutionise how you do business. “When you provide us your data,” Anthony said, “we will return that data back to you, amplified.”

Thomas Byrne shared in his keynote that according to Accenture, 73% of customers are willing to share personal data with their financial institution in exchange for personalised offers. With trust, security, and explainability at the foundation of our AI strategy, we are pioneering AI tools ethically, responsibly, and with control.

Continued Digital Transformation

Pierre Naudé, nCino CEO and Chairman, spoke to attendees about the future of banking and nCino’s continued commitment to innovation.

In order to survive, banking needs to become more client-centric, and that transformation needs to start now. Analytics, AI, and data-driven insights are the future, and the cloud is the necessary foundation. As the cloud banking leader, nCino is helping FIs become more customer-centric. Our platform is well-poised to enable you to provide your customers the best service possible, in every line of business.

In a thought-provoking customer panel, one of our UK customers shared how they are ensuring continuous innovation on the nCino platform as part of their vision to achieve full data and digital transformation. Some key tips for a successful transformation included:

• Define what success looks like from the start and its implications in terms of change management. Explaining and articulating the ‘why’ at the very beginning is key.

• Align to your long-term vision and ensure executive sponsorship.

• Plan your transformation appropriately and deploy an incremental approach aligned with your resources.

• Be agile and prepared to fail—it's an iterative process and never perfect.

• Ensure continuous training and regular feedback loops.

• Maintain a good partnership with your tech vendors, and don’t be afraid to ask for help and advice.

What You Can Expect from nCino

At nCino, we don’t just talk about innovation—we deliver it. In his keynote, Thomas Byrne shared some exciting features and updates coming soon to the nCino Cloud Banking Platform. Topics included:

• Commercial Real Estate (CRE): Support your customers through the current volatility in the CRE space by actively managing risk in real time with nCino.

• Priority Management: nCino gives the middle and back offices a new way to manage bank policy by delivering your data more efficiently.

• Enhanced Pricing: With nCino, you can offer customers accurate and segmented pricing, along with real-time updates, with a high level of agility in a volatile market.

In a roundtable discussion, Daniel Broadhurst and Tom Chaplin discussed what’s to come with the future of Mortgage Transformation in UK and Ireland. Transformation is not a single event, they said, but rather, perpetual—something that needs to be planned, managed, and maintained for lenders to stay relevant and respond to the needs of their customers and an ever-evolving market.

The four key areas we’re focused on from a mortgage perspective now are customer retention, pricing transformation, broker advocacy, and user experience. They also explored the role of AI in mortgage lending and how AI and data decisioning will begin to play a part in the process. In order to use AI and data to manage operational efficiency, improve personalisation and take predictive analytics to the next level, you must have a robust data strategy. nCino can help ensure data quality and provide you with the tools you need to create a 360-degree view of your customers.

The ESG Revolution

In a breakout session, Alice Whitworth and Harry Powel spoke about the ESG revolution in lending. Rather than a trend, they emphasised, ESG (Environmental, Social, and Governance) is a fundamental and essential industry shift. Sustainability isn’t just about effects on the environment, but also includes social impact, such as fair wages and positive community outcomes. Some key takeaways from the ESG conversation include:

• Regulators need to work more closely with FIs, especially when it comes to consulting before a new standard is launched and committing to timelines.

• Data collection will be a challenge in terms of availability, quality, and reliability. FIs will need standardisation when it comes to ESG data collection and assessment.

• The burden of ESG seems to rest with the customer and front line. For now, many will rely on these parties to provide and collect data. Supporting their education and culture shift towards ESG is vital.

• FIs need to start early and build from the ground up. A robust data model designed for longevity, but that also a solution that provides flexibility to adapt will be key, as static solutions will be a burden to react to the constant changes coming in the industry.

Two of our partners, FullCircl and Codat, also held discussions on the importance of partner integrations to enhance your client journey and the future of credit risk management powered with real time data.

At nCino, we’ve developed an ESG Solution that allows for a truly embedded ESG strategy. We’ve taken our core Commercial Lending capabilities and added a layer of ESG throughout, enabling the collection of ESG data needed for disclosures and reporting. You’ll have the ability to view relative ESG performances across your portfolio to help you identify where your risk and opportunities lie. ESG strategies can be complex and multi-faceted, but nCino enables you to execute your strategies with ease through digitisation and automation.

We’re excited to be on this journey with you, transforming the industry through reputation, innovation, and speed by incorporating cutting-edge AI technology into our solutions. Schedule your demo to learn more.