nCino Introduces Banking Advisor, a GenAI Solution to Support Efficiencies at Financial Institutions

nCino, Inc. (NASDAQ: NCNO), a firm focused on cloud banking for the global financial services industry, made generally available its new artificial intelligence (AI) solution, Banking Advisor.

nCino’s Banking Advisor is said to be “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:

  • Interactive Documents: Enabling bankers to “chat” with any PDF document such as credit policies, training materials, market data, how-to guides, etc.
  • Intelligent Automation: Automated writing of new deal and credit memo narratives, evolving a previously manual task and reducing human error using the narrative skill embedded in the tool
  • Data-Driven Insights: Offering of conversational industry benchmarks and insights via a chat interface, helping bankers ask questions about the data to determine best next steps for the business
  • Advanced Processing: Streamlined document upload process by scanning the data and categorizing information to associate the scanned data with the appropriate relationship
  • Query Response: Answering specific banker questions based on uploaded documentation, such as:

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.”

Donald Permezel, General Manager of Product at nCino said:

“Since nCino’s inception, we’ve been committed to transforming the financial services industry through innovation, reputation and speed. 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.”

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