Artificial Intelligence (AI) is not the new frontier; it is here and now. The question we should be asking is not whether banks should adopt AI technologies, but rather how and where the banking sector, particularly regional and community banks, should start implementing it.
With the rapid evolution of technology and increasing regulatory demands, financial institutions (FIs) face the dual task of enhancing operational efficiency while mitigating risks.
As we continue to witness the exponential rise of Artificial Intelligence (AI) in the financial services industry, it's crucial to understand the inner workings of the models driving these intelligent systems.
Like many businesses across the US, community and regional banks face challenges stemming from economic fluctuations, regulatory reforms, and shifting consumer preferences. To navigate these headwinds, they’re leveraging their unique strengths, such as personalized customer interactions and local market insights.
nSight 2024, nCino’s annual conference, was held May 14 – 16 in Charlotte, NC.
Artificial Intelligence (AI), particularly Generative AI (Gen AI), has transformed industries in significant ways, and financial services is no exception.
Today, financial institutions (FIs) grapple with a myriad of challenges. These include time-consuming loan processing, disparate data sources, resource-intensive loan origination processes, and the overwhelming task of interpreting large sets of data.
At the same time, AI is unlocking new value streams for FIs, especially in the areas of efficiency and productivity, deal pricing and profitability optimization, credit risk management, compliance, and customer experience.
