Fintech
M&T Bank Expands Use of nCino Continuous Credit Monitoring Solution
nCino, Inc. (NASDAQ: NCNO), a pioneer of cloud banking for the global financial services industry, announced 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 decision-making platform.
nCino’s continuous credit monitoring solution leverages RDC’s explainable AI platform and is designed to bring transparency to every decision, providing M&T with more complete information on cash flow status, credit risk and lending opportunities both at customer and portfolio level. This will allow M&T to detect earlier warning signs and have access to additional data when making decisions throughout the customer relationship lifecycle. This innovative solution is set to transform the way M&T manages credit risk and loan performance across its portfolio.
“M&T Bank is committed to providing advanced credit risk management solutions to our commercial and corporate banking customers, leveraging data to drive further automation and deliver intelligent, actionable insights,” said Nicholas Batyko, chief technical officer of M&T Bank.
“By adopting nCino’s continuous credit monitoring solution, we are further improving our ability to manage credit risk through the automation of early warning indicators. This scalable capability will provide our employees with insights to drive even more timely and personalized banking experiences,” said Sarah Hudak, Director of Credit Product Delivery, M&T Bank.
nCino’s solution, powered by RDC’s AI technology, streamlines timely alerts, customer reviews and uncovers new low-risk lending opportunities.
“Collaborating with nCino and M&T Bank to bring this innovative solution to life has been a rewarding experience,” said Julian Bloomfield, Chief Revenue Officer of RDC. “Our AI-powered platform predicts future functionality, enables deeper and more meaningful bank-customer interactions, and dramatically improves credit outcomes. This collaboration demonstrates the potential of joint efforts to improve efficiency and innovation in the banking sector, 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 from a reactive to a proactive approach,” said Sean Desmond, Chief Product Officer at nCino. “nCino not only simplifies operations by automating previously manual tasks, but also bridges the gap between ambition and success by providing actionable, real-time 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 decision-making capabilities. The integrated capabilities enhance nCino’s cloud banking platform, extending nIQ’s ability to further integrate advanced intelligence into banking workflows to more efficiently, accurately and holistically assess portfolio health and credit risk.