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
nCino, Inc. (NASDAQ: NCNO), a pioneer in cloud banking for the global financial services industry, today announced that M&T Bank Corporation (“M&T”) (NYSE:MTB) an existing and long-standing nCino customer, is expanding its use of the nCino platform and integrating nCino’s Continuous Credit Monitoring Solution into its operations. The solution is powered by nIQ and leverages Rich Data Co’s (RDC) AI decisioning platform.
nCino’s Continuous Credit Monitoring Solution leverages RDC’s explainable AI platform and is designed to bring transparency to every decision, giving M&T more comprehensive insights into cash flow health, credit risk, and lending opportunities at both the customer and portfolio levels. This will enable M&T to detect more early warning signs and have access to additional data when making decisions throughout the customer relationship lifecycle. This innovative solution is set to transform how M&T manages credit risk and loan performance across its portfolio.
"M&T Bank is committed to delivering enhanced credit risk management solutions to our Commercial and Business Banking clients, leveraging data to drive additional automation, and provide intelligent, actionable insights,” said Nicholas Batyko, Engineering Director, M&T Bank.
“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. This scalable capability will provide insights to our employees to drive even more timely and tailored banking experiences," said Sarah Hudak, Director of Credit Product Delivery, M&T Bank.
nCino's solution, enriched by RDC's AI technology streamlines early warnings, customer reviews and uncovers new, lower-risk lending opportunities.
"Partnering with nCino and M&T Bank to bring this innovative solution to life has been a rewarding experience," said Julian Bloomfield, Chief Revenue Officer at RDC. "Our AI-driven platform forecasts future serviceability, enables deeper, more meaningful banker-customer interactions and greatly improves credit outcomes. This collaboration showcases the potential of joint efforts in enhancing efficiency and innovation in the banking industry, ensuring superior service delivery to customers."
Through this collaboration, nCino is setting a new standard in how financial institutions manage credit risk. "Our goal is to transform the approach to credit risk management, moving it from a reactive to a proactive stance," said Sean Desmond, Chief Product Officer at nCino. "nCino not only streamlines operations by automating previously manual tasks but also bridges the gap between ambition and achievement by providing real-time, actionable insights that empower strategic decision-making."
Last year nCino announced a global reseller agreement with RDC, and subsequently became an investor in the company to leverage RDC’s decisioning capabilities. The integrated capabilities enhance nCino’s Cloud Banking Platform, extending the ability for nIQ to further embed advanced intelligence into banking workflows to more efficiently, accurately, and holistically assess portfolio health and credit risk.
About nCino
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 1,800 financial services providers globally. For more information, visit www.ncino.com.
About Rich Data Co.
Rich Data Co (RDC) is an industry leader in artificial intelligence (AI) decisioning for business and commercial lenders. The RDC AI platform enables banks to make high-quality lending decisions efficiently and safely. Leveraging advanced explainable AI technology, the platform delivers efficiency and transparency in both origination and portfolio management decisions. With the RDC platform, banks can deliver more meaningful customer interactions, improve credit outcomes, and increase lending. For more information, visit richdataco.com.
