Company's Gen AI tool, powered by nCino IQ (nIQ), delivers real-time intelligence and optimizes decision-making with data-driven insights for financial institutions across asset sizes and geographies
Participants of Banking Advisor’s closed beta testing Product Design Program finding efficiency gains through employee time savings and proactive portfolio management
WILMINGTON, N.C., June 17, 2024 (GLOBE NEWSWIRE) -- nCino, Inc. (NASDAQ: NCNO), a pioneer in cloud banking for the global financial services industry, today made generally available its new artificial intelligence (AI) solution, Banking Advisor. nCino’s Banking Advisor is a banker-focused, conversational co-pilot tool that provides financial institutions a modern approach to proactive portfolio management, helps streamline routine tasks to save significant time and effort, and takes the guesswork out of complex processes to help financial institutions track and comply with regulatory requirements.
The intelligence and automation embedded in Banking Advisor allow multiple roles at an institution to increase productivity and spend time on higher-value activities like building and maintaining client relationships. The solution is powered by nCino IQ (nIQ), which was introduced in 2018 and leverages AI, machine learning and analytics to deliver intelligent automation, data-driven insights and industry benchmarks that create an enhanced user experience and deliver greater value to customers utilizing the nCino Cloud Banking Platform.
nCino’s Banking Advisor leverages large language models to drive real-time information awareness, provide suggestions for next actions, and offer insightful interactions with information, documents and objects to unlock new value. The co-pilot is thoughtfully designed with a set of unique skills to meet the modern demands of relationship banking and represents an innovative leap in Gen AI-assisted financial service capabilities.
The initial version of Banking Advisor includes the following skills, with more being developed:
The Customer Experience
Banking Advisor operates exclusively on the data provided by the individual financial institution, ensuring a tailored and precise user experience. Participants of the Product Design Program, nCino’s closed beta program that represents various geographies and asset sizes, have pioneered Banking Advisor’s functionality, confirming optimized processes and providing valuable first-hand perspectives.
“Since nCino’s inception, we’ve been committed to transforming the financial services industry through innovation, reputation and speed,” said Donald Permezel, General Manager of Product at nCino. “As financial institutions recognize the tremendous potential of AI to reshape their operations, there is a concerted effort to incorporate these technologies to achieve differentiation in the marketplace and enhance user experiences. We’re pleased to offer innovative solutions that not only make an immediate impact for our customers, but that also have the ability to evolve and become more insightful as adoption increases.”
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.
About First Horizon Bank
First Horizon Corp. (NYSE: FHN), with $81.8 billion in assets as of March 31, 2024, is a leading regional financial services company, dedicated to helping our clients, communities and associates unlock their full potential with capital and counsel. Headquartered in Memphis, TN, the banking subsidiary First Horizon Bank operates in 12 states across the southern U.S. The Company and its subsidiaries offer commercial, private banking, consumer, small business, wealth and trust management, retail brokerage, capital markets, fixed income, and mortgage banking services. First Horizon has been recognized as one of the nation's best employers by Fortune and Forbes magazines and a Top 10 Most Reputable U.S. Bank. More information is available at www.FirstHorizon.com.
About Northern Bank
Northern Bank is a full-service bank dedicated to providing practical, common sense financial solutions to help our customers’ lives and businesses grow. From deposit products to loans to payment and collections services, we work hands on with our entrepreneurial customers, both locally and across the country, to provide the financial support they need to realize their personal and business goals. Founded in 1960, Northern Bank has 13 locations serving communities throughout Middlesex County. Northern Bank is a Member of the FDIC, and an Equal Housing Lender.
Media Contacts
Natalia Moose
press@ncino.com
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