EXECUTIVE INSIGHT
and I ’ m passionate about continuing to guide the careers of those within the team and seeing them develop . As a leader , I learned a long time ago it is no longer about me !
At nCino , the mission is to transform financial services through innovation , reputation and speed . Within the market and solutions for which I ’ m responsible , I ’ m keen to double down on the innovation agenda and further our reputation for innovative lending in Europe .
Q . WHAT ’ S THE BEST PIECE OF ADVICE YOU ’ VE EVER RECEIVED ?
» Don ’ t talk about what you do ; talk about what you believe . This transfers across all walks of life , but I ’ ve found it to be especially powerful in a product and professional context . The difference between telling someone about a product or feature , and explaining how you think it will add value to and drive our industry forward , is massive .
Q . HOW DO YOU THINK AI WILL TRANSFORM COMMERCIAL BANKING AND LENDING OVER THE COMING MONTHS ?
» I think we all saw the power of AI in 2023 and became excited about the technology . At nCino , we are uniquely positioned to bring this innovation to the market in a game-changing way . Given the breadth of the platform , we see so many opportunities to create automation and intelligence in the processes .
I believe that , in the future , we ’ ll see disruption in all parts of the value chain , from intelligent recommendations on pricing for both the FI and the customer , to automating manual tasks completely . I think we ’ ll see the role of bankers change , and administrative tasks will begin to go away .
But we ’ ll also see more specialised and typically more experienced roles emerge within FIs , with their jobs augmented by insights to help guide them to where their expertise is truly needed . Whichever way you look at it , the future is not going to be boring , and we ’ re excited to be at the forefront of taking our customers on this journey .
Q . ARE THERE ANY SPECIFIC AREAS YOU THINK COULD BE TRANSFORMED BY AI ?
» Enhanced credit underwriting :
• Smarter risk assessment : AI-powered algorithms can analyse vast amounts of financial and non-traditional data ( e . g . news articles , social media ) to create more accurate and holistic credit profiles . This leads to better loan pricing and reduces the risk of bad debts .
• Automated loan decisions : AI models can streamline the approval process , enabling faster decisions for smaller loans and those with lower risk profiles . This improves customer experience and operational efficiency .
• Fraud detection : AI can detect fraudulent applications and suspicious activity in real time , protecting lenders from financial losses .
Personalised lending :
• Dynamic interest rates : AI can personalise interest rates based on a borrower ’ s unique risk profile and market conditions , fostering fairer and more competitive lending .
18 March 2024