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nCino Unveils AI-Powered Banking Advisor to Enhance Portfolio Management

  • nCino has introduced a new AI-powered tool, Banking Advisor, designed to streamline portfolio management and compliance monitoring for banks, enhancing productivity and user experience.
  • The tool, leveraging nCino IQ’s AI and analytics capabilities, aims to revolutionize digital banking by enabling financial institutions to refocus on strategic initiatives and offer personalized services.

The brand new product, unveiled in a press release by nCino on Monday (June 17) It is an “banker-focused, conversational copilot tool” that helps with portfolio management by streamlining processes as well as helping banks monitor compliance with regulations.

“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,” Donald Permezel, general manager of product for nCino the company, stated in a press announcement.

“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,” the CEO explained.

In the press release, Banking Advisor’s automation and intelligence aid in increasing productivity, which allows employees to concentrate focused on “higher-value activities like building and maintaining client relationships.”

Banking Advisor is powered by nCino IQ, which debuted in the year 2018, and utilizes AI machines, machine-learning as well as analytics, to “deliver intelligent automation, data-driven insights and industry benchmarks that create an enhanced user experience,” the company claimed.

In the last month, nCino reported that demand for its single-platform cloud bank solution as well as AI features fueled the company’s record-breaking gross sales during its most recent quarter.

Pierre Naude, chairman and chief executive officer at nCino In an announcement that the company’s record sales in the first quarter underscored “the effectiveness of our single platform strategy” and the customers want products which “embed intelligence into essential business processes.”

“With more visibility into their own financial performance, more and more financial institutions have been able to refocus on strategic initiatives to improve their operations, create additional operating efficiencies, provide better user experiences for their clients and improve their competitive positioning,” Naude stated. “This is translating to more technology spend.”

“AI assistants are the next step in the digital banking evolution, allowing customers to interact with their finances through natural language,” Kare Kjelstrom who is the chief technology officer of Lunar said in a statement to.

It is a significant departure from conventional User Interfaces (UIs) which allow people to gain deeper insights into their finances through ways that are easy to understand and natural to them.

“It is a journey toward hyper-personalization,” Kjelstrom said, adding that traditional banking systems often provide generic and impersonal services, which can leave users feeling disconnected from their finances.

“Banks actually have a lot of information about you that can be leveraged to help you take control of your finances,” He added although only a handful banks use AI methods to make it work.

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