nCino unveils AI-powered banking advisor

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Cloud Banking Company nCino has unveiled an artificial intelligence (AI)-powered solution called Banking Advisor.

new offer, announced Monday (June 17), is a “banker-centric, interactive Copilot tool” that provides portfolio management by streamlining operations and helps banks track and comply with regulatory requirements.

“As financial institutions recognize the tremendous potential of AI to reshape their operations, there is a concerted effort to incorporate these technologies to achieve market differentiation and enhance customer experiences. ” Donald ParmeselGeneral Manager of Products In nCino, said in a news release.

“We are pleased to offer innovative solutions that not only have an immediate impact on our customers, but Ability to do As adoption grows it evolves and becomes more insightful,” he added.

Banking advisor intelligence and automation help improve productivity, allowing employees to spend more time on “high-value activities like building and maintaining client relationships,” according to the release.

Banking Advisor is powered by nCino IQ, launched in 2018 and uses AI, machine learning And “Intelligent automation, analytics to deliver data-driven insights And industry standards that improve the user experience,” the company said.

Last month, nCino reported that its single-platform cloud banking solution and AI features helped fuel demand. Record gross sales In its most recent quarter.

Pierre NoddynCino's chairman and CEO said in a news release that record first-quarter sales highlighted “the effectiveness of our single platform strategy” and consumer demand for products that “embed intelligence into essential business processes.” “

“With more visibility into them own Financial performance, more and more financial institutions have been able to refocus strategic initiatives to improve their operations, create additional operating efficiencies, provide better customer experiences for their customers. And Improve your competitive positioning,” Naudé said. “This is translating into higher technology spending.”

Meanwhile, PYMNTS last week wrote about how AI is helping to improve the convenience associated with digital banking.

“AI assistants are the next step in the evolution of digital banking, allowing customers to interact with their finances through natural language,” Kåre Kjelstrømof the CTO Lunartold PYMNTS during a discussion for “AI Effect” series.

It marks a Important change From traditional user interfaces (UIs), it allows users to access deeper financial insights in ways that are intuitive and come naturally to them.

“It's a journey towards hyper-personalization,” Kjelstrøm said, adding that traditional banking systems often provide generic and impersonal services, which can make customers feel disconnected from their finances.

“The bank in fact There's a lot of information about you that can be used to help you take control of your finances,” he added, though only a few of them would use AI solutions to enable it. are

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