In the rapidly evolving lending landscape, caused in part by the bank failures of 2023, credit portfolios are facing significant stress and heightened challenges, including rising default rates, fluctuating interest rates, and economic uncertainty. Coupled with strict regulatory demands for risk differentiation and portfolio diversification, these pressures are exposing the limitations of current credit portfolio monitoring processes, which are often static, reactive and subjective. The Australian CRE market has seen an 8.5% decline in capital growth with the office sector being a major contributor to this decline due to its cumulative loss of 22%­­. As a result, financial institution (FI) leaders are rethinking their credit portfolio management practices.

Artificial Intelligence (AI), particularly Generative AI (Gen AI), has transformed industries in significant ways, and financial services is no exception.Today, financial institutions (FIs) grapple with a myriad of challenges. These include time-consuming loan processing, disparate data sources, resource-intensive loan origination processes, and the overwhelming task of interpreting large sets of data.At the same time, AI is unlocking new value streams for FIs, especially in the areas of efficiency and productivity, deal pricing and profitability optimization, credit risk management, compliance, and customer experience.

In honor of Global Volunteer Month, employees in nCino’s Wilmington and Lehi offices took part in a series of impactful events, each contributing to the company’s mission of making a positive difference in the community. Employees rallied to volunteer in the community, thanks in part to one of our favorite perks—16 paid hours of volunteer time each year,to help support our favorite causes.

As technology continues to rapidly change the way financial institutions conduct business, AI has the potential to transform CIB lending.

After 20 years in business, Tradition Capital Bank has taken the initiative to improve their technology stack, establishing a best-in-breed strategy. nCino Commercial Onboarding and Account Opening was selected as their first digital solution to bring an exceptional commercial account opening experience.

In the dynamic world of financial services, Artificial Intelligence (AI) stands at the forefront of a revolution, unlocking unprecedented value for financial institutions. This technology, characterized by its ability to learn and adapt, is not merely an addition to the toolkit of the financial sector; it's a game-changer. By harnessing AI, financial institutions (FIs) are enhancing decision-making processes, optimizing operational efficiencies, and delivering highly personalized customer experiences.

While banks are partnering with innovative and forward-thinking tech vendors to improve their business and services, not all of these partnerships are successful. Even with impressive products and glowing reviews, some tech vendors aren’t suitable matches for the banks they partner with.

Community banks and credit unions play a huge role in the communities they serve. Unlike their larger counterparts, these institutions provide loans in the neighborhoods where their customers live and work, positively impacting local businesses and communities.

In the dynamic world of finance, managing risks effectively is not just a necessity—it's a hallmark of successful financial institutions.