WILMINGTON, N.C., May 15, 2024 (GLOBE NEWSWIRE) -- 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 (https://www.ncino.com/solutions/ncino-
iq?utm_source=google&utm_medium=cpc&utm_campaign=q1_ncinoiq_na&creative=68977235
3962&keyword=ncino%20niq&matchtype=p&network=g&device=c&gad_source=1&gclid=CjwKC
Ajw88yxBhBWEiwA7cm6pfkSqwEus-jKN6JVwbO65Zad7NKScmG0xm5luP-mihfD0Wr1-
PzCrRoCBMUQAvD_BwE) 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 (https://www.ncino.com/news/ncino-expands-ncino-iq-offerings-
through-partnership-with-rich-data-co) 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
(https://www.globenewswire.com/Tracker?data=ZIAmuokhrkvBfvYoioAmZgZBK1kq8OLD5dVq
HDkDNEkW6T8B7G0Foi80GesybqXXhYsOnob1CYkBetkcE1VxCgOOsJsIfq6h2wCkQzYTtexCax6vVZgG
_yXnNaWRMJlxkYJUqHdZoaZ5bd3wHd2euVJnjOyp1wT5j3P2MgyRXBNkCCPWIYx_yLYQFuGLnZHzlFWz
l7LMuWFSGymjG914N79nZ6eeNgNHufD28kaDbz8=).
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.
(http://richdataco.com.)
Media Contacts
Natalia Moose
press@ncino.com (mailto:press@ncino.com)
Safe Harbor Statement
This press release contains forward-looking statements within the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995. Forward-
looking statements generally include actions, events, results, strategies and
expectations and are often identifiable by use of the words "believes,"
"expects," "intends," "anticipates," "plans," "seeks," "estimates," "projects,"
"may," "will," "could," "might," or "continues" or similar expressions. Any
forward-looking statements contained in this press release are based upon
nCino's historical performance and its current plans, estimates, and
expectations, and are not a representation that such plans, estimates, or
expectations will be achieved. These forward-looking statements represent
nCino's expectations as of the date of this press release. Subsequent events may
cause these expectations to change and, except as may be required by law, nCino
does not undertake any obligation to update or revise these forward-looking
statements. These forward-looking statements are subject to known and unknown
risks and uncertainties that may cause actual results to differ materially
including, among others, risks and uncertainties relating to the market adoption
of our solution and privacy and data security matters. Additional risks and
uncertainties that could affect nCino's business and financial results are
included in reports filed by nCino with the U.S. Securities and Exchange
Commission (available on our web site at www.ncino.com (http://www.ncino.com/)
or the SEC's web site at www.sec.gov (http://www.sec.gov/)). Further information
on potential risks that could affect actual results will be included in other
filings nCino makes with the SEC from time to time.
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