In early June, nCino employees gathered for One nCino Day, a global event that embodies our vibrant culture and celebrates the unique individuals who help shape it.

As the financial services industry continues to evolve, efficiency has become a top priority. In order to maximize efficiency, stay competitive, and unlock new value streams, financial institutions (FIs) are leveraging the power of artificial intelligence (AI) throughout their business processes.

As we continue to witness the exponential rise of Artificial Intelligence (AI) in the financial services industry, it's crucial to understand the inner workings of the models driving these intelligent systems.

Opening a commercial bank account is a significant decision for any business. All businesses are unique entities with operational requirements, product needs, and shareholder arrangements, and the choice of a bank as a business partner is often a relationship-driven decision.

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.