Partnership with AI decisioning platform to provide deeper insight and more confident lending through a single platform.WILMINGTON, N.C., February 7, 2023 — nCino, Inc. (NASDAQ: NCNO), a pioneer in cloud banking and digital transformation solutions for the global financial services industry, today announced a value-added reseller agreement with Rich Data Co (RDC), an industry leading artificial intelligence (AI) decisioning platform, to enhance the lending process for its customers. The combined value delivered by this partnership will equip financial institutions with deeper insights into their clients’ business and improve, streamline and further automate workflow and monitoring, creating significant value and efficiencies in small business and commercial lending.nCino will integrate RDC’s decisioning capabilities into the nCino Bank Operating System® to enhance nCino’s Commercial Banking and Small Business Banking solutions with ground-breaking AI and machine learning techniques. This will simplify the traditional credit technology landscape and empower transparent and explainable decision-making driving revenue and efficiency for nCino’s customers. The partnership with RDC will expand the use cases for nCino IQ (nIQ®), which leverages intelligence and machine learning to transform data into information and actionable insights, empowering financial institutions to focus on key-value add activities and make better business decisions.“The combination of AI, data and digital customer experience enables banks to more efficiently, accurately and holistically assess the health of a customer’s business, enabling lenders to have better visibility and control of their existing and new credit for the entire business lending portfolio,” said Gordon Campbell, Chief Product Officer at RDC.

AmeriCU, a New York-based credit union, will implement SimpleNexus' Nexus Engagement™, Nexus Origination™ and Nexus Closing™ to modernize the member home buying experience. These solutions will provide members with a seamless, mobile-first experience and enable AmeriCU to streamline its workflows and improve operational efficiency.

Idaho Central Credit Union (ICCU) has a growing, wide-spread customer base with diverse needs. That’s just one reason the ICCU has partnered with nCino across multiple lines of business—and why they knew nCino would be able to help them transform their business lending processes.

With the anticipation of a global downturn, a number of banking and technology trends are emerging worldwide. As a result, financial institutions will have to innovate faster than ever to avoid falling behind competitors and ensure they’re positioned to take full advantage of new opportunities today and throughout 2023.

As financial institutions (FIs) face the current macroeconomic landscape and an impending global recession, they are beginning to feel the impact on their budgets. As a result, many banks are redirecting their spend towards projects with faster time to value that improve operational efficiency and help control costs.For lenders, this also means navigating increased risk and higher chances of loan defaults, not to mention new competition threatening their market share, all while continuing to create personalized experiences, winning customers, mitigating risk and managing compliance. That’s no easy feat.

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Penrith Home Loans, a mortgage lender in the western United States, has implemented SimpleNexus' Nexus Engagement™, Nexus Origination™ and Nexus Closing™ to provide a single sign-on digital home buying environment from application to post-close. This will allow Penrith Home Loans to provide its customers with a more convenient and efficient home financing experience.

Choosing the right digital mortgage vendor can feel daunting. Mortgage lenders must consider not only their own business needs, but also federal regulations that impact how they manage and access their borrowers’ data. In an increasingly tech-heavy mortgage environment, lenders are navigating new digital solutions to fix old problems.

With 2023 underway, savvy lenders are looking for mortgage tech that will help them navigate the economic headwinds this year is slated to bring. Efficiency, cost savings, and better collaboration are top of mind for many lenders. But which part of the mortgage journey can they digitize?